MONTREAL, June 9, 2005 (PRIMEZONE) -- DM2 Technology, a wholly owned subsidiary of Financial Access Solutions Technology (Pink Sheets:FLST) is pleased to announce that Rogers Wireless has started to carry DM2's wireless POS units in their retail outlets. The retail outlets are carrying the Lipman Nurit 8000 model. This will enable the company to expand its customer base significantly by providing greater access to DM2's Wireless POS technology and products and enable the company to provide our customers considerable value added services. Financial Access Solutions Technology is working toward the goal of having the retail outlets all across Canada carry its products.
Each wireless POS terminal runs on a cellular network to carry the signal and, given DM2's relationship with Rogers Wireless, it enables DM2 to offer its clients access to the best cellular network available. This arrangement with Rogers Wireless gives the company a competitive edge over other providers of wireless terminals.
About Rogers Wireless
Rogers Wireless is the largest Canadian wireless communications service provider, serving more than 5.7 million subscribers at December 31, 2004, including over 5.5 million wireless voice and data subscribers and nearly 0.2 million one-way messaging (paging) subscribers. Rogers Wireless is a wholly owned subsidiary of Rogers Communications Inc., (TSX:RCI.MVA) (NYSE:RG) a diversified Canadian communications and media company.
About Financial Access Solutions Technology, Inc.
Financial Access Solutions Technology, Inc., through its wholly owned subsidiary DM2 Technology, is a leading provider of specialized point-of sale (POS) terminals and software that allows merchants to accept as payment debit and credit cards for purchases made by their customers. These POS terminals are standard countertop models and handheld wireless models operating on a cellular network. DM2 leases or sells these terminals to retailers through their network of sales agents. DM2 handles the processing of these transactions for a fee per transaction. DM2 is also the first independent sales organization to sell Prepaid MasterCard credit cards.
The debit card and credit card processing industry is a multibillion dollar, worldwide market. Billions of dollars of electronic debit and credit card transactions occur on a daily basis in more and more locations worldwide. With the advent of the handheld wireless models, taxis, airplanes, delivery trucks, and many more mobile locations as well as locations without access to a hardwired line are now able to process credit card and debit cards for purchases as well as transactions being done in line, in your seat at the stadium or theater. Financial Access Solutions Technology is positioning itself to be a global leader in the debit and credit card processing industry through its aggressive growth strategy and by continuing to pursue alliances and partnerships with other leading companies that share its corporate vision. DM2 has concluded various agreements with several industry leaders and retailers such as Rogers, MasterCard International, Open Solutions, TelePlus and EasyHome.
Financial Access Solutions Technology's continued growth and rapid expansion is fueled by its growing reputation as an industry leader and by the rising choice by consumers to use debit cards and credit cards versus cash for all their purchases. Financial Access Solutions Technology sees further expansion not only in Canada but throughout North America.
More information is available at www.dm2debit.com. Investors and media can receive a free investor kit for Financial Access Solutions Technology, Inc. by contacting Investor Relations at info@dm2debit.com.
This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statements provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Such forward-looking statements by definition involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. In particular, there is no assurance that production, pricing levels or other factors pertaining to the manufacturing and retail operations will be sustained at the expected rates or levels over time. Discussions of factors, which may affect future results, are contained in the Company's most recent SEC filings.