EFT Canada Inc.

EFT Canada Inc.

February 26, 2008 14:52 ET

EFT Canada Licenses Software to Finnish Credit Union

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2008) - EFT Canada Inc. (TSX VENTURE:EFT), a leading provider of innovative transaction processing technology, announced today that the Finnish Credit Union has licensed its web-based electronic funds transfer solution.

Finnish Credit Union Limited (Osuuspankki), with offices in Toronto Ontario, is a full-service credit union offering financial products and services to the Finnish-Canadian community. Osuuspankki was founded in 1958 and is 100% owned by its members.

The web-based electronic transaction processing solution provides the Finnish Credit Union with the platform to better serve the electronic transaction needs of its member accounts. In particular, the solution will enable members to create and manage electronic transactions and customer profiles, in addition to having full access to a suite of reporting functions. Among the electronic functionality, users will have the ability to enter payroll, expense, accounts receivable and other collection and payment transactions.

EFT Canada continues to deliver a comprehensive, easy to use, yet robust, EFT/ACH transaction processing platform for small and medium sized businesses in North America. Using the web based platform, clients are given the ability to perform pre-authorized debits and direct deposits to customer and employee bank accounts based in Canada and the United States.

EFT Canada has been able to deliver superior service and customer support by efficiently executing this niche and building on the strength of its core infrastructure. EFT Canada Inc. is ranked 12 on the 2007 PROFIT Hot 50 Rankings the definitive ranking of Canada's Emerging Growth Companies.

Randy Waxman, Chief Operating Officer commented, "EFT Canada is pleased to be working with the Finnish Credit Union by offering our complete web based solution to its members. EFT is witnessing a growing market acceptance of its service and online product offering"

"This provides a much needed cost efficient, user friendly solution for our small and medium sized enterprises," said Antero Elo, CEO and General Manager of the Finnish Credit Union.

About EFT Canada

Founded in 2003 and publicly traded on the Toronto Venture Exchange, EFT Canada Inc. (TSX VENTURE:EFT) is a financial processing company offering a complete solution to the collection and payment processing needs of small and medium sized business merchants, and financial institutions in Canada and the United States. The Company develops, and delivers innovative electronic transaction processing technologies, such as customized electronic payment and collection, as well as gift and loyalty card services, by drawing on its operational and applications expertise. For more information, please call 416-781-0666 or 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.

Contact Information

  • EFT Canada Inc.
    Randy Waxman
    Chief Operating Officer
    (416) 781-0666
    Website: www.eftcanada.com