FORT LAUDERDALE, Fla., Sept. 26, 2007 (PRIME NEWSWIRE) -- Secured Financial Network, Inc. (OTCBB:SFNL) announced today that the Company has completed the build-out and official launch of its proprietary Payment Gateway, which going forward will be marketed to both online and offline merchants under the "The RedFin Network" brand name. The completed proprietary Payment Gateway will now perform PCI-CISP compliant level 1, 2, and 3 electronic payment processing for merchant clients by way of retail Point-Of-Sale terminals, virtual terminals, interactive voice response (IVR), e-commerce and mobile commerce (WAP) via wireless PDAs and phones operating on Java or Windows Mobile Wireless technology.
Initially the newly operational Payment Gateway will integrate, connect and service several large Internet and bricks-and-mortar merchants who are looking to use the RedFin Network Payment Gateway exclusively for their e-commerce/customer transactions, however the Company anticipates that it will be able to significantly expand the size and scope of this merchant client base in the coming months. While the Payment Gateway is currently integrated with processors such as Vital, First Data Omaha, and Fast Check/Cyclone, and it is anticipated that the Payment Gateway will be certified, over the next 30 to 60 days, by all major processors, such as Concorde, all First Data platforms, Chase/Paymentech (NYSE:JPM) and numerous others.
Secured Financials President and CEO, Jeffrey Schultz, commented, "We are delighted to be ready and capable of processing transactions through our newly-completed proprietary Payment Gateway and are excited to service the handful of merchants who have chosen to utilize The RedFin Network for their processing needs. Our goal is to be processing a minimum of 10 million payment transactions per month within 6 months, through a nationwide network of merchant agents and bank processors. We also intend to integrate additional value added proprietary offerings to the RedFin Network over the next several months, which include real-time Bill Payment and International Money Transfer services."
About Secured Financial Network
Secured Financial Network, Inc. is a Ft. Lauderdale, Florida-based Company that looks to create growth, add to profitability, and build shareholder value by engaging in a full-spectrum of e-commerce transactions through a PCI Certified Payment Gateway and proprietary 'bank-grade' electronic-vault based payment-processing system through its exclusive Envoii Deployment License Agreement.
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Secured Financial Network, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
INVESTOR INQUIRIES can be directed to the Company's website, http://www.sfnl.net.
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