LODI, Calif., Feb. 6, 2006 (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 that the Banking division grew over 100% in 2005.
"This is very encouraging news," stated Clifford Goehring, President of Pacific's Banking Services division. Mr. Goehring continued, "This rapid growth is due to continued expansion of our organic site locating and installation of additional Point-of-Banking terminals within Pacific's own portfolio of deployed terminals. Additionally the growth of our managed units at Pacific has added several new management contracts from outside companies and many of our existing clients successfully grew their own portfolios."
Owned and managed Point-of-Banking terminals grew by 462 units in 2005. Current rates of growth in existing client portfolios, ongoing negotiations with potential clients and new internal installations are excellent indicators that 2006 will continue to be an excellent growth year. Point-of-Banking transactions now exceed 1,000,000 annually.
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), Financial 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 Financial Solutions., Inc. at 877-649-0016 or visit their website at www.pfuo.com.