Freestar Technologies, Inc. announced that it has opened its new North American headquarters in the heart
of New York City to launch the sales and marketing of its PaySafeNow system in
the North American market. Freestar’s PaySafeNow system is the first system
to allow consumers to execute PIN-secured ATM, debit card, credit card and
smart card transactions over the Internet.
The PaySafeNow solution bundles Freestar’s proprietary software with a
secure card reader that connects the consumer’s PC to the financial
institution holding the consumer’s banked funds. The reader is compatible
with both magnetic-stripe and smart-card technologies, and utilizes a secure
numeric keypad to enter PINs and passwords. This system creates two-factor
authentication, which is required for ATM/debit transactions.
The PaySafeNow System is endorsed and certified by Banco Nacional de
Credito, a division of the National Financial Group (GFN), a principal
financial institution in the Caribbean and Latin American region.
Supporting the expansion of its sales and marketing effort, the Company also
announced the appointment of Cynthia Aadal as Director of Business
Development. Prior to joining FSTI, Ms. Aadal was a founding partner and
Director of Business Development for Get Real Girl, Inc. a consumer and multi-
media company featured on Oprah, NBC, QVC, the Wall Street Journal, Red
Herring and other media. She was also a business development specialist for
Abacus Online, a division of Double-click – the world’s leading Internet
advertising firm. Ms. Aadal holds a degree in Political Science and
Communications from the University of Arizona.
Paul Egan, CEO of Freestar Technologies, said, “This is an extremely
important step for Freestar Technologies with regard to the execution of our
business plan and the globalization of our PaySafeNow system. New York is the
business center of the world and therefore it is a natural choice for our
North America headquarters.
Mr. Egan concluded, “We are also very pleased to announce the appointment
of Cynthia Aadal, who will bring additional strength and experience to the
management team and enhance our position in a competitive market place.”
About Freestar Technologies, Inc.
Freestar Technologies, Inc.’s Enhanced Transactional Secure Software
(“ETSS”) is a proprietary software package that enables consumers to
consummate secure e-commerce transactions over the Internet using credit,
debit, ATM (with PIN) or smart cards. The ETSS system integrates a consumer-
side card-swipe terminal with a back-end host-processing center. It encrypts
sensitive financial data at the consumer’s personal computer, using powerful
DES encryption and algorithms. It sends an authorization number to the e-
commerce merchant, rather than the consumer’s credit card information, to
provide a maximum level of security. The Company plans to link several large,
established smart card systems together on an ETSS-based standard to achieve
economies of scale and further market penetration for this secure e-commerce
payment system. For more information visit the Web site of the Company at