RHXI: Launch of Prepaid Platform

RHXI: Launch of Prepaid Platform

posted in: Profile Updates by On December 2nd, 2009

Rahaxi Inc.’s Subsidiary Freestar Dominicana and UniCarte of Haiti Launch Prepaid Telco Processing Platform

Rahaxi’s Telco platform to process electronic Pin and Recharge for main carriers in Haiti, gross revenues could potentially top US $24 million in the first year.

SANTO DOMINGO, Dominican Republic, Dec. 2 /PRNewswire/ — Rahaxi Inc. today announced that its wholly owned subsidiary Freestar Dominicana has entered into a partnership agreement with UniCarte, a division of UNIBANK Haiti. The partnership is based on a 50/50 profit-sharing agreement on the sales of electronic pins and recharge/top-up transactions for telecommunication companies in Haiti, such as Digicel, Comcell, and Haititel. The first phase which required loading the prepaid application on to 600 terminals has been completed, and it is envisaged the application will be loaded to an additional 2000 terminals in the coming months. By partnering with Freestar Dominicana, UniCarte now has access to a prepaid platform that includes industry-leading guidelines, the highest product standards, a secure environment, and an enhanced technology infrastructure that provides UniCarte with substantial flexibility to develop value added applications and services for its merchants.

Paul Egan Chief Executive Officer of Rahaxi Inc. said, “Teaming up with UniCarte to provide all the platform technology is an exciting development for our company and will enable us to further expand our presence in Latin America and the Caribbean.” Egan added, “Given the almost 100% usage of pre-paid air time for cell phones in this region, we believe that gross revenue for the partnership could potentially yield approximately two million dollars per month or twenty four million dollars per year and increasing as more terminals are deployed.”

Patrick Cleopatra, Vice President of UniCarte stated: “We are excited and look forward to the success of this partnership with Freestar Dominicana. This partnership reflects our desire to collaborate with companies that share our vision of growth in Haiti. UniCarte’s high end merchant portfolio can now rapidly expand with this partnership and our pre-paid products can now reach the whole country giving our merchants alternative revenue streams via GPS Fixed line and internet terminals.”

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 UNIBANK

Since its inception in July 1993, UNIBANK has emerged as the banking leader in Haiti, striking the imagination, providing innovation, constantly introducing new products and services, and is now called the Bank leader of Haiti. UNIBANK is Haiti’s Largest Bank, with assets of US$768 million (as of September 30th, 2008). UNIBANK is Haiti’s Bank of Choice, with 723,000 customers in Haiti and 268,000 among Haitians living abroad. It has 1,828 employees and 568 points of service which include 45 branches, 17 Micro Credit National agencies, 3 UniCarte, UniCredit and UniFinance offices, 186 UniTransfer offices and remittance paying-agents throughout Haiti and 317 UniTransfer International offices and agents in the United States, Canada and various countries in the Caribbean.
For additional information on Rahaxi, Inc. (OTCBB: RHXI) visit http://www.stockorange.com/rhxi

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