EFT Canada Inc.
TSX VENTURE : EFT

EFT Canada Inc.

July 12, 2007 09:41 ET

Coastal Software Signs Canadian Electronic Transaction Processing Agreement With EFT Canada

TORONTO, ONTARIO--(Marketwire - July 12, 2007) - EFT Canada Inc. (TSX VENTURE:EFT), a publicly traded company based in Toronto Ontario, announced today that Coastal Software, based in Vancouver Washington and an independent provider of Automated Clearing House (ACH) processing services to NetSuite Small Business and NetSuite customers in the United States, has integrated with its Canadian electronic transaction processing platform.

Coastal Software, using its existing integration with the NetSuite group of products, will utilize EFT Canada's robust backend technology processing platform to provide Canadian and United States NetSuite Small Business and NetSuite merchants with a comprehensive, easy-to-use, and affordable Canadian electronic processing solution. Merchants using this cash management solution will have the ability to process many different types of Canadian electronic fund transfers (EFT's), including but not limited to direct deposit payroll and accounts receivable collection.

NetSuite Inc, a private company founded in 1998 by Larry Ellison of Oracle Corp. and Evan Goldberg, is a leading provider of integrated business application software for small and midsize businesses. With thousands of customers globally using NetSuite's online products and professional services, companies are enabled to manage all key business operations-in a single hosted system, including: customer relationship management (CRM); order fulfillment; inventory; finance and product assembly; ecommerce; Web site management; and employee productivity.

"We are pleased to have a relationship with EFT Canada and to have integrated into their robust transaction processing platform," said Deryk Marien, President of Coastal Software. "This opportunity enables Coastal Software to be the only NetSuite partner to offer a complete solution of electronic transaction processing in both Canada and the United States. With the addition of Canadian transaction processing, Coastal Software is well-positioned for continued growth."

"EFT Canada is pleased to welcome Coastal Software and to have them take advantage of our Canadian EFT solution. Coastal Software's relationship with Canadian NetSuite users fits nicely with EFT Canada's philosophy of providing services to small and medium sized business owners. We look forward to a long-term, rewarding relationship through providing the best quality processing and value added services for Coastal Software," said Jonathan Pasternak, President 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.

About Coastal Software & Consulting

Based in Vancouver, WA, Coastal Software & Consulting, Inc., (www.coastalsoftware.com) provides technology solutions to electronic financial management challenges faced by organizations of all sizes. In addition to its PC and Internet enabled offerings, the company has developed and brought to market EZ-Direct Deposit® and EZ-EFT® to make payroll, billing, bill payment and accounting more simple and effective. The applications work with the most popular accounting software packages and follow the standards developed by the National Automated Clearinghouse Association (NACHA) to implement automatic bank drafts, electronic fund transfers and direct deposits, and other electronic financial transactions. For more information, visit www.coastalsoftware.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.

Contact Information