SOURCE: QI Systems Inc.

May 29, 2007 08:00 ET

QI Develops Innovative Unattended Cashless Bike Distribution System

High Visibility Cyclestation™ for Saint Francis Health System

DALLAS, TX and VANCOUVER, BC--(Marketwire - May 29, 2007) - QI Systems Inc. (OTCBB: QIII), a leading developer and integrator of contact and contactless card payment, access control and tracking solutions, today announced that the Company has completed development of Cyclestation™, a cashless card-operated unattended bike distribution system, for deployment in the metro Tulsa, OK area by the Saint Francis Health System.

The $300K project, called Tulsa Townies, is underwritten by the Warren Medical Research Center. It places cruiser bicycles in remotely monitored specially designed racks for free use. Bicycles are secured to the racks by means of a unique RFID tag on the bikes. To check-out a bicycle, users scan their credit card for identification and authorization purposes, and if a bicycle is not returned within the proscribed time, the credit card of the user will be charged a predetermined fee.

All of the bicycles, as well as all of the racks, are networked to a central server. Each rack location is supported by a User Identification Terminal (UseIT) and each terminal is solar powered and equipped with wireless communications allowing the system to function independently.

QI Systems intends to sell the Cyclestation technology on the open market and has already had inquiries about distribution rights. QI will donate a portion of the profits from each unit sold to Saint Francis Children's Hospital in Tulsa, OK.

QI Systems' President and CEO Steven Garman stated, "We are exceptionally pleased to have worked with the Warren Medical Research Center and the Saint Francis Health System to bring the innovative Tulsa Townies community bike project to the Tulsa metro area. This free public bike system promotes the value of a healthy lifestyle through outdoor activity and is an excellent example of the benefits that can be achieved when the public and private sectors work together for a common objective. At QI Systems, we develop and integrate unattended payment systems, access control devices and tracking solutions. This unique project allowed us to utilize our entire range of engineering capabilities. We are delighted to have been given the opportunity to develop the Cyclestation™ bike system for such a worthwhile project."

About QI Systems:

QI Systems Inc. develops and markets innovative chip-based card payment and tracking solutions for a number of industries as well as national, state and local government agencies. QI's products and core competencies include smart-card and stored-value systems, security protocols, data communication software design and hardware manufacture. For more information about QI Systems Inc., visit http://www.qisystemsinc.com.

Matters discussed in this press release are "forward-looking statements" and are subject to certain risks and uncertainties. Consider all risk factors carefully when evaluating forward-looking statements, as actual results may differ materially from current expectations. QI Systems undertakes no obligation to publicly update such forward-looking statements.

Contact Information

  • Corporate & Media Contact
    Steven R. Garman
    President & CEO
    817-485-8111
    Email Contact

    Investor Relations Contact
    Todd D. Lorenze
    ExpressIR
    407-327-6444
    Email Contact