SOURCE: Rahaxi Inc.

February 18, 2009 04:30 ET

ChinaPay and Rahaxi Platform Set to Leverage Hotels, Airlines and Car Rental in the European Market

HELSINKI, FINLAND--(Marketwire - February 18, 2009) - Rahaxi Inc. (OTCBB: RHXI) an international card payments processor and technology company, today announced that it has entered into an agreement with the Irish based Hotel Group Carlton Hotels. This agreement will provide access to ChinaPay e-commerce program. The program is designed to enable suitable merchants based in the EU region, to gain access to the previously inaccessible but lucrative Chinese online market.

The Agreement allows Carlton Hotels, which owns eight four-star hotels throughout Ireland and its partner programs with Airlines and Car rental companies, to gain access to the millions of Chinese Tourists seeking travel to Europe and Ireland. Rahaxi and ChinaPay Plan to offer the online program to merchants in the hospitality industry with expansion to other online services such as luxury online retail markets.

Paul Egan, CEO and President of Rahaxi Inc., said, "This is a significant moment in Rahaxi's history. By teaming up with Carlton Hotels, the leading four-star hotel group in Ireland, we prove that our ChinaPay offering is of significant commercial interest to EU entities seeking to leverage the Chinese Online Market." Egan continued, "The significant investment to date is reaping rewards and the upward trend is set to continue well into the future. Rahaxi is planning to boost its revenue significantly in 2009 as a result of its online and retail offering of CUP Cards acceptance to Chinese tourists and business travellers visiting European destinations. We are currently in Negations with some major Airlines, Car rental and online sports industries."

Kevin O'Driscoll, Managing Director of the Carlton Hotel group said, "We are pleased to avail of Rahaxi's ChinaPay program today. One of our aims for this year is to boost foot traffic through our hotels and this is certainly a positive step to this end. The Chinese online community is a substantial market and one which Carlton Hotel group wishes to maximise as much as possible."

About Carlton Hotel Group

Carlton Hotels is an Irish owned company with eight four-star luxury properties in stunning locations throughout Ireland. Carlton hotels are renowned for leisure breaks, business guests and spa packages. With locations from Dublin to Donegal, Westport to Wexford, Kildare to Kinsale and the brand new Carlton Shearwater Hotel in Galway we have a destination to suit you.

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About ChinaPay

Founded in 1999, ChinaPay, the online payment subsidiary of China UnionPay, is a government-backed, cross-bank bank card information switch network and professional internet payment service provider. Supported by People's Bank of China and China UnionPay, combining advanced electronic payment technology and professional financial service, ChinaPay is able to provide all cardholders and merchants with safe bank card payment and fund settlement services. Based on new channel such as internet, ChinaPay, which has a unified national payment platform, engages in online e-payment service, telephone payment, inter-bank transfer, online fund trade, self-service terminal and other alternative online payment methods and value-added services.

About Rahaxi Inc.

Rahaxi Inc. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. FreeStar Technology has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy., Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers.

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Forward-Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The companies caution that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in FreeStar's Form 10-KSB filing and other filings with the U S. Securities and Exchange Commission (available at FreeStar undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events, or otherwise.

Contact Information

  • For more information, please contact:
    Rahaxi Inc.

    Paul Warren
    Global Sales Director
    Direct: +44 (0) 1484 532 544
    Email Contact

    Paul Egan
    President & CEO
    Tel: +1-809-547-2248
    Email Contact