LODI, Calif., Nov. 23, 2005 (PRIMEZONE) -- Pacific Financial Solutions, Inc. (Pink Sheets:PFUO), a leader in providing cashless ATM and wireless POS devices featuring Pacific's Point-of-Banking (PBT) terminal technology, Merchant Processing and stored-value cards, announced today the appointment of Fred Rackers as President of its Pacific Card Services, Inc. division. For the past two years, Mr. Rackers has served as Consultant on Staff at GlobalCash, Inc., responsible for business development, contract negotiations, and project development for stored value programs and spearheaded all sales and marketing efforts for the nationwide bank cash depository program offered by GlobalCash. GlobalCash was recently acquired by Pacific Financial.
Previously, Mr. Rackers was Vice President at NetVoice Technologies involved in high growth sectors of telecom and VoIP services. Additionally, he was president of InterActive Services, a nationwide marketing agency for various telecommunication services. Mr. Rackers holds an Associates Degree in Electronics and a Bachelor of Science in Business Administration.
Cliff Goehring, Pacific Financials President commented, "Mr. Rackers brings a tremendous level of experience in national sales management, particularly within the stored value card industry. He has driven the marketing efforts for an exclusive nationwide bank cash depository service and through his many industry alliances successfully brought numerous business development opportunities to fruition. We are energized about Mr. Rackers joining our executive team and we look forward to his leadership."
About Pacific
Pacific Financial Solutions Inc., a premier global distributor of financial services and products provides its customers with a wide array of prepaid stored-value and kiosk enabling devices. Pacific is comprised of three integrated divisions: Point-of-Banking terminals (PBTs), kiosks and Stored-Value card products and services. Pacific is a location services provider (LSP) for national and regional retail merchants. Pacific's continued success is driven by corporate sales, ISO's sales as well as mergers & acquisitions. Pacific's global strategy centers on deploying both single and multi-use debit banking services and enabling devices worldwide.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve a number of known and unknown risks and uncertainties that may cause the company's actual results or outcome to be materially different from those anticipated and discussed herein. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry.
For more information, call Pacific at 877-649-0016 or visit their website at www.pfuo.com.