February 24, 2005

Smart Card Payment Platform

First Time in U.S. That Local Merchant Network Supports Smart Card Payment System for in-Store Purchases and Parking

HAMPTON FALLS, N.H.--(BUSINESS WIRE)--Feb. 23, 2005--Parcxmart Technologies(TM), Inc., an electronic payments company specializing in smart card payment solutions, announced that the Parcxmart(TM) smart card payment platform has gone live today in stores in the Japantown section of San Jose, California. The participating Japantown merchants will now be able to distribute Parcxmart(TM) Cards, load value onto these cards using VeriFone Omni 3750 POS terminals, and then accept the cards for in-store purchases. The Parcxmart card can be used for on-street and off-street parking payments in participating cities once Parcxmart-compliant single and multi-space meters are installed.

"This marks the first time in the U.S. that a local merchant network is supporting smart card payments for in-store purchases and eventually on and off-street parking applications," said John Regan, President and CEO of Parcxmart Technologies. "The Parcxmart system is also the first smart card payment system that operates seamlessly between private merchant and public municipal networks."

The Parcxmart(TM) Card solution is a comprehensive payment platform that uses smart card technology to offer drivers and consumers a convenient one card alternative to coins and cash for small dollar transactions at on-street and off-street parking locations, as well as for retail purchases at participating merchants across the United States.

"Establishing the Parcxmart merchant network is the first step in ending the need for coins and small dollar bill transactions for consumers who want to segment their commuting expenses conveniently onto one card," said Regan. "The Parcxmart merchant network supports this easy payment for parking and shopping, making the transaction fast and cost-effective. We will continue our rapid expansion into other markets as we integrate into single and multi-space parking meters, and other garage payment systems."

About Parcxmart Technologies, Inc. (www.parcxmart.com)

Founded in 2003, Parcxmart is an electronic payments company specializing in smart card payment solutions, delivering value to customers with its initial focus on Municipal parking operations and local merchant communities.

Posted by Craig at February 24, 2005 03:25 PM