FreeStar Technology Corp. (FSRT.OB), a global payment processing and technology company headquartered in the Dominican Republic, announced today that the company has achieved record sales for the fiscal year ending June 30, 2008. Sales skyrocketed 66% to over $6 million. Perhaps more remarkable is the fact that the company’s most significant projects are still in their infancy.
Paul Egan, FreeStar CEO, said, “The revenue growth we achieved in 2008 occurred even though we are still in the early stages of seeing returns on our significant investment into the China Unionpay project and our other projects involving Monex and Global Refunds. Each of these could significantly impact our revenue streams in the future.”
Key to the huge sales increase was the success achieved in consulting and hardware. Consulting revenue went up by 115% while hardware sales rose over 160%. Transaction processing revenue also grew.
Freestar operates a robust Northern European BASE24 credit card processing platform based in Finland, which currently processes some 2 million card payments per month, and supports all major cards. FreeStar offers a one-of-a-kind advanced software package for card processing ensuring a high level of security for online transactions. Rahaxi Processing Oy, a FreeStar subsidiary based in Finland, is a leading European provider of electronic payment processing. FreeStar also has a network of strategic alliances in the Americas, Europe, and the Caribbean.
FreeStar’s products help companies prevent fraud, and provides additional customer convenience and safety. Chargebacks are greatly reduced, while individual consumer credit information and financial privacy are better protected. FreeStar technology allows every desktop to become a POS terminal, and allows debit and ATM cards with PIN numbers to be used as easily as credit cards.
In addition to corporate offices in Santo Domingo, Dominican Republic, FreeStar has offices in Dublin, Ireland, and Helsinki, Finland. For more information see www.FreeStarTech.com and www.Rahaxi.com.
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