Nov-08-2005

HELSINKI, Finland – (PR Newswire) -- November 8, 2005 – FreeStar Technology Corp. (OTCBB: FSRT), an international card payments processor and technology company, today announced its wholly owned subsidiary Rahaxi Processing Oy., based in Helsinki, has signed a strategic partnership agreement with ePocket to integrate the ePocket Payment System into Rahaxi’s payment processing systems.
The ePocket payment system makes it possible for customers to pay for transactions using cash by depositing cash or an amount charged to a credit or debit card in a receiving institution. Using cash to pay for a transaction preserves the privacy and identity of the payer. For ePocket payments, the merchant will benefit from real-time settlement, lower transaction fees and guaranteed funds.
CEO Paul Egan of FreeStar Technology said, “The addition of ePocket payment technology to Rahaxi Processing’s payment systems makes possible for customers to use digital cash that provides anonymity, ease of use, and identify theft protection for on-line purchases.”
Under the agreement’s terms, ePocket will work with existing Rahaxi Processing clients, such as regional banks, financial institutions and merchants, to integrate ePocket into their existing account management systems. In addition ePocket will be implemented as the payment mechanism for several new online gaming/gambling merchants. Rahaxi Processing will be granted an operator agreement for the ePocket Acquiring Software Application – permitting it to offer ePocket to existing and future merchants/clients.

A joint team will be responsible for the integration of the ePocket Mint into the Rahaxi Processing payment system, the implementation of the ePocket Merchant software into several merchant locations, and the setup of the ePocket Coin Issuing Mint.

ePocket Chairman Peter Hamilton said, “The deployment of the ePocket platform is on target. Rahaxi is the leading payment processor in Northern Europe. Rahaxi represents the first leg of the European implementation of the ePocket payment system. ePocket is also in the process of finalizing negotiations with additional payment processors located in both the United States and Canada.”

“We are very excited about our partnership with Rahaxi and the mutually beneficial opportunities,” Hamilton added.

ABOUT FREESTAR TECHNOLOGY CORP. FreeStar Technology Corporation is a payment processing company. It’s wholly owned subsidiary Rahaxi Processing Oy., based in Helsinki, is a robust Northern European BASE24 credit card processing platform. Rahaxi currently processes in excess of 1 million card payments per month for such companies as Finnair, Ikea, and Stockman. FreeStar is focused on exploiting a first-to-market advantage for its Enhanced Transactional Secure Software (ETSS), which is a software package that empowers consumers to consummate e-commerce transactions with a high level of security using credit, debit, ATM (with PIN), electronic cash or smart cards. The company, based in Dublin, maintains satellite offices in Helsinki, Santo Domingo, Dominican Republic, and Geneva. For more information, please visit FreeStar's websites at http://www.freestartech.com, http://www.rahaxi.com.

About ePocket Inc. (http://www.ePocket.com)
ePocket brings true electronic cash to the world for the first time, making purchases over the Internet as secure and simple as handing cash to a clerk in a store. ePocket enables banks to provide their customers with the ability to withdraw electronic cash in any currency from their regular deposit accounts, and send this electronic cash to merchants or other consumers in order to make payments. Cash created electronically is just like cash, except there are no coins, bills, or plastic cards -- it is entirely electronic. Just like cash, electronic cash does not require the identification of a payer. This provides privacy for consumers, and eliminates fraud and identity theft, making ePocket the most cost-effective payment solution for Internet commerce. ePocket payments cost merchants less than any other payment technologies. Their extraordinary cost effectiveness enables merchants to profitably accept very small payments of just one or two dollars. In contrast to other payment schemes, consumers do not have to open additional accounts with a payment intermediary. Consumers do not have to give up any identity or credit information in order to accomplish a payment. This makes ePocket payments completely secure and provides complete privacy for consumers.