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:
President - EFT Canada Inc.
info (at) eftcanada.com