ESI Entertainment Systems Inc. ("ESI") (TSX:ESY) a leading provider of secure payment processing services to the international online gaming industry, today announced that its wholly owned subsidiary, Citadel Commerce Corp., will pilot its SecureSwipe(TM) device with Excapsa Software Inc. The SecureSwipe(TM) device is a point of sale terminal which enables an end user to swipe a credit or debit card and enter a PIN to conduct an immediate secure payment from home.
"We have revolutionized the way on-line gaming merchants and their customers conduct business over the internet," said Michael Meeks, President of ESI and Citadel Commerce. "The combination of myCitadel Wallet and our SecureSwipe(TM) pinpad enables our merchants to record transactions as 'card present' while providing their customers with a secure, effective and easy to use payment solution not seen in the on-line gaming market today."
SecureSwipe(TM), which plugs into any personal computer via standard USB connection, enables consumers to pay securely for gaming site services with either a credit or debit card. A consumer can now transfer eMoney into their myCitadel Wallet and pay by physically swiping their credit card at home using an assigned SecureSwipe(TM) pinpad device and electronically signing a receipt. Citadel Commerce correctly codes the credit card transactions according to card association regulations, and the purchases are approved because the payments are treated as card-present transactions.
"We are thrilled to have been selected by Citadel Commerce to pilot their latest technology allowing our consumers to process credit card payments via their unique SecureSwipe(TM) device," said Jim Ryan, CEO of Excapsa. "Processing credit card transactions via SecureSwipe(TM) provides a true cost effective alternative for those users whose cards have been declined via traditional methods."
The credit card is the most popular and preferred payment method for on-line consumers. A large percentage of cardholders do not, or cannot, use their credit cards to pay for purchases on the Internet due to coding parameters imposed by card associations for card-not-present transactions and/or concerns related to credit card fraud.
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc. is a public company traded on the Toronto Stock Exchange (TSX: ESY). Its wholly owned subsidiary, Citadel Commerce Corp., is recognized as a leading provider of secure and efficient payment processing services to the international online gaming industry.
About Excapsa Software, Inc.
Excapsa (AIM: XCP) is a leading online gaming software developer. The Group successfully floated on to AIM in February 2006 in conjunction with a placing of 51,087,374 Common Shares at a Placing Price of 110p per share, market capitalization of (pnds stlg)214.2 million. Excapsa develops, maintains and markets multi-player, real time, Internet enables poker software and manages the Excapsa Poker Network. Licensee brands include DevilfishPoker.com, UltimateBet.com, UltimatePoker.com, CardPlayerPoker.com, MagicPalacePoker.com, DV8Poker.com and NationalLampoonPoker.com among others.
Forward-looking Statements
This news release contains forward-looking statements concerning ESI Entertainment Systems Inc, which statements can be identified by the use of forward-looking terminology such as "expect", "proposed", "may", "plan", "intend", "will", "would" or the negative thereof or any other variations thereon or comparable terminology referring to future events or results. Forward-looking statements are statements about the future and are inherently uncertain, and the actual events or results could be materially different than those anticipated in those forward-looking statements as a result of numerous factors discussed more fully in the Company's Final Prospectus dated March 22, 2006 and elsewhere. These risks include risks related to revenue growth, operating results, industry growth, changes in regulation and legislation, products, technology, financing, competition, personnel and other factors affecting the Company and its business, any of which could cause actual events or results to vary materially from ESI's anticipated future results. Forward-looking statements are based on beliefs, opinions and expectations of ESI's management at the time they are made, and ESI does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change. The Toronto Stock Exchange does not accept responsibility for this press release.
For further information: ESI Contact: Dan Parmar, Chief Financial Officer, Telephone: (604) 299-6922 ext 375, Email: dparmar@esi.ca; Citadel Commerce Contact: Donna Montgomery, Director of Marketing, Telephone: (604) 299-6924 ext 306, Email: dmontgomery@citadelcommerce.com
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