PRESS RELEASE
 
Sept 06, 2006:
EFT Canada Releases Proprietary Dual Authorization Electronic Transaction Processing Platform For Clients

Toronto, ON (Sept 6 , 2006) – EFT Canada Inc (TSX-V: EFT), a publicly traded company based in Toronto Ontario and a leading provider of Canadian and U.S. ACH electronic transaction processing services and gift and loyalty card solutions, today announced the release of its dual authorization functionality within its proprietary electronic transaction processing platform.  Using the new dual authorization functionality, clients can set individual transaction limits that employee’s are able to enter and authorize without a second authorization, automatically notify second or third user’s of transactions requiring dual authorization, in addition to limiting platform access on a per user basis. 

Using this new functionality, once a transaction has been entered and authorized by the original user, client signing officers are notified via email of a transaction requiring a second authorization.  Once a transaction has been fully authorized, any changes will void the original officer authorization.

Jonathan Pasternak, President of EFT Canada stated, "our technology department has responded to our client comments and the overall financial environment by creating an electronic tool that efficiently replaces the need for a two signature paper cheque.  This is a natural extension of our mission to provide proprietary, easy to use, and effective cash management tools at a discounted price."

"The dual authorization utility fits nicely with EFT Canada’s product offering.  With the increasing popularity of our services within the financial marketplace, and the requirement for greater financial controls addressing fraud and other security issues, this development is another example of how EFT Canada is providing our merchant customers with the resources they need to grow and protect their businesses,” said Randy Waxman, COO of EFT Canada.

 

About EFT Canada
Founded in 2003, EFT Canada Inc. is a financial processing company that offers a complete solution to the collection and payment processing needs of small and medium sized business merchants, banks, credit unions, and other financial firms in Canada and the United States.  The Company develops, maintains and delivers innovative electronic transaction processing technologies, such as customized electronic payment and collection processing solutions and gift and loyalty card services, by drawing on its operational and applications expertise.  For more information, please visit www.eftcanada.com.

 

This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ significantly from those projected herein.  The TSX Venture Exchange has not reviewed and does not accept responsibility for adequacy or accuracy of the content of the information contained herein.

For further information:

Jonathan Pasternak
President - EFT Canada Inc.
(416)781-0666
info (at) eftcanada.com