TORONTO, ON (Oct. 31, 2007)– Secure EFT, a partnership made up of Secure Payment Systems (SPS) of San Diego, Calif., and EFT Canada Inc. (TSX-V: EFT), a publicly traded company based in Toronto, announced that Open Solutions Canada, the Canadian subsidiary of Open Solutions Inc.®, a provider of integrated enabling technologies for financial service providers across the United States, Canada and internationally, and its independent sales organizations (ISOs) will deliver Secure EFT’s industry-leading gift card program to their Canadian merchants. Through this agreement Open Solutions Canada will use Secure EFT’s innovative technology platform to provide merchants with a comprehensive, easy-to-use and affordable gift card program that can help to increase customer visits, enhance revenue and enable small- and medium-sized merchants to compete with larger retailers in the very popular gift card market.
Lin Fellerman, president of SPS stated, “The SPS gift and loyalty product line works well for EFT Canada’s prospective clients given it’s a fully secure and accountable payment solution which is still in its infancy stage in Canada.” Fellerman added, “SPS’s strategy fits nicely with EFT Canada’s market presence and proposed product offering.”
Jonathan Pasternak, president of EFT Canada, said “Our agreement with Open Solutions is another example of the credibility of our gift and loyalty program and the tremendous growth this product channel is experiencing. This is an ideal compliment to our high-growth Canadian and U.S. electronic transaction processing product offering.”
Mike Kelso, general manager of Open Solutions Canada’s Payment Solutions Group, said, “We are pleased to add gift cards to the suite of products and services our ISOs can offer their merchant clients. Consumer and merchant demand for gift cards is on the rise in Canada and our gift card program enables small-business owners to enter this market space at a reasonable cost”. Kelso continued, “Open Solutions Canada is delighted to work with Secure EFT and its industry-leading partners to deliver this program to the Canadian market.”
About Secure Payment Systems
Founded in 1996 by Linden (Lin) Fellerman, privately held Secure Payment Systems, Inc. (SPS) is a unique information services company that specializes in the needs of small and midsize retailers. In addition to traditional point-of-sale transaction processing, SPS offers electronic check conversion, gift and loyalty card processing, a proprietary ATM debit payroll/international funds transfer card, as well as an array of ACH electronic debit services including file transmissions and a sophisticated WEB-based database platform for merchants to privately perform their own recurring debit activities. For more information, please visit www.securepaymentsystems.com.
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.
About Open Solutions Canada
Open Solutions Canada designs, builds, integrates and operates advanced banking and payment technologies for processing centres, financial institutions, retailers, independent sales organizations (ISOs) and third-party organizations worldwide.
Open Solutions Canada’s Payment Solutions Group supports and markets state-of-the-art, industry-standard payment (credit card, debit card, chip and Internet) transaction processing solutions internationally. The Payment Solutions Group operates the largest white label ATM and POS payment switch in Canada. In addition, it directly supports more than 30 Canadian financial institutions through a network providing shared cash transaction processing, ATM monitoring and 7/24 support.
About Open Solutions Inc
Open Solutions Inc. offers a fully featured strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, network services, HSAs, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at firstname.lastname@example.org or by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.
Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2007. Open Solutions Inc. All rights reserved.
The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.