Filmagic Entertainment Inc. announced it has changed its name to InstaPay Systems Inc. The new trading symbol is (OTCBB:IPYS). The name change reflects the company’s new focus in the transaction processing market.
InstaPay Systems provides an Internet Payment Service for the securities industry, the primary goal of which is to provide state-of- the-art payment solutions via the Internet. InstaPay offers a unique, efficient, economical, and expeditious solution to transfer funds to your brokerage account through the use of ATM/Debit with PIN technology via the Internet. The company has an exclusive license to market and sell this patent pending technology and gateway service to the securities (stock brokerage) industry. InstaPay’s licensed technology provides a gateway service that enables and delivers certain transactions to allow the use of the consumer’s bank-issued ATM card over the Internet.
This service is the first and so far only gateway service to enable Internet merchants to accept ATM Card transactions where the consumer uses their PIN number to verify their identity and complete their transaction. To learn more about the Internet Payment Service technology, visit [www.instapaysystems.com].
The company that licensed the technology to InstaPay has been in positive discussions with several ATM networks and hopes to be in production with at least one network early next year, but we are not yet in a position to make specific forecasts, and in some cases we are bound by confidentiality agreements.
About InstaPay Systems Inc.
InstaPay’s new focus is on the implementation of services such as Internet payments via an ATM/Debit card from home or office to securities brokerage accounts.