SOURCE: Rahaxi Inc.

February 19, 2009 04:30 ET

Update: ChinaPay and Rahaxi Platform to Leverage Hotels, Airlines and Car Hire in European Market in Its First Phase

Rahaxi Contracts Ireland's Carlton Hotel Group as Its First European Ecommerce Client to Accept CUP Cards On Line

The Top Blue Chip Hotel Group Selects Rahaxi to Leverage Chinese Market

HELSINKI, FINLAND--(Marketwire - February 19, 2009) - Rahaxi Inc. (OTCBB: RHXI), an international card payments processor and technology company, today announced that it has signed up the Irish based Hotel Group Carlton Hotels to its Ecommerce ChinaPay 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 and its partner programs to gain access to millions of Chinese tourists wishing to book their visits to Europe and Ireland. Rahaxi and China Pay plan to offer the online program to selected merchants in the hospitality industry and expanding to other online services such as high street retail and others.

Paul Egan, CEO and President of Rahaxi Inc., said, "This is a significant moment in Rahaxi's history. By teaming up with Carlton hotels we prove that our ChinaPay offering is of a significant commercial interest to EU entities wishing to leverage the Chinese Online Market." Egan continued, "The significant investment to date is reaping rewards and this 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 acceptances to Chinese tourists and business travellers visiting European destinations and Merchants."

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 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 the potential of as much as possible."

About Carlton Hotel Group

The Carlton Hotel Group is an Irish owned company with 8 luxury four star properties in stunning locations throughout Ireland.

Carlton hotels are renowned for quality and service and with locations from Dublin to Donegal, Westport to Wexford, Kildare to Kinsale, Galway and the newly acquired Carlton hotel in Castletroy in Limerick. They offer a venue to suit every occasion.

For more information, please visit http://www.carlton.ie

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. Rahaxi Inc. 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.

For more information, please visit http://www.rahaxi.com

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. http://www.chinaunionpay.com/

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 harbour 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 Rahaxi's Form 10-KSB filing and other filings with the U S. Securities and Exchange Commission (available at http://www.sec.gov). Rahaxi 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:

    At Rahaxi Inc.

    Mr. Paul Egan
    C.E.O
    Tel: +809 547 2248
    Email Contact

    Mr. Paul Warren
    Global Sales Director
    Tel: +44-7981514141
    Email Contact