TORONTO, ONTARIO — (Marketwired) — 11/13/13 — EFT Canada Inc. (“EFT”) (TSX VENTURE: EFT), a leading technology provider of electronic funds transfer services, today announced that it has launched its credit card transaction processing and risk management services to Canadian business owners. A report of 2011 Canadian payment data showed that electronic funds transfer (EFT) accounted for 7% of total Canadian volume, in comparison with 12% for credit cards.
The new product launch follows the recent announcement that the Visa and MasterCard networks have registered its payments gateway allowing Canadian businesses to sign up for credit card processing using its PCI Level 1 secure solution. The PCI DSS Level 1 requirement applies to any service provider who stores, processes or transmits more than 300,000 transactions annually to Visa or MasterCard.
EFT Canada will immediately begin marketing the new service to its existing and future client base. Using EFT Canada-s payment gateway, clients will be able to store, process and transmit credit card information in the cloud, without having to invest heavily in their own infrastructure. Retail, e-commerce, direct marketing, and recurring transactions are all market segments certified to be processed using the EFT Canada payment gateway.
“The continued demand by our existing client base was one of the contributing factors of this new service,” said Randy Waxman, EVP Sales and Marketing, EFT Canada. “The new service should both lead to organic revenue growth of our existing portfolio and diversification of our client base.”
EFT CANADA INC.
Founded in 2003 and headquartered in Toronto, Ontario, EFT Canada, a leading financial services firm, offers small and medium sized businesses a broad range of innovative and electronic payment solutions, including Canadian and U.S. electronic funds transfer (ACH/EFT), credit card payment processing gateway (PCI DSS Level 1), gift and loyalty programs and fraud prevention services. For more information, please visit .
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. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
EFT Canada Inc.
Jonathan Pasternak
President
(416) 781-0666
jpasternak(at)eftcanada.com
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