Q Comm International Inc., a provider of prepaid transaction processing, announced today that Tripoint Payment Systems Ltd. of Nassau, Bahamas, has purchased and installed Q Comm’s server systems, and licensed Q Comm’s transaction processing platform for the electronic distribution of prepaid services in the Bahamas.
Tripoint Payment Systems is the exclusive provider of payment processing or merchant services terminals in the Bahamas. In 2004, Tripoint successfully installed and tested Q Comm’s systems in the Bahamas by selling prepaid phone cards and prepaid wireless airtime through more than 80 active retail locations including Burns House liquor stores and Super Value grocery stores. Tripoint will now begin to roll out services among their 2,200 retail locations. Tripoint plans to switch out all of their existing 2,200 terminals with new VeriFone Omni 3750 terminals by the end of 2005. Tripoint will preload Q Comm’s prepaid application on all terminals before placing them in their retail locations. Upon installation, retailers will be invited by Tripoint to join the prepaid sales program enabled by the new terminal.
Tripoint’s retail locations include restaurants, gift shops, clothing stores, grocery stores, convenience stores, drug stores and liquor stores. Doug Pfeiffer, CEO of POSA Tech and board member of Tripoint Payment Systems said: “I estimate that as many as 80 percent of our retailers will be interested in the prepaid program. Most locations with merchant processing terminals serve tourists and tourists often purchase prepaid phone cards, as their cell phones normally do not work in the Bahamas.”
Regarding the process that Tripoint went through in choosing a prepaid processing platform, Pfeiffer continued: “When we started looking for a prepaid services platform, we first narrowed our list to the top three worldwide providers. We chose Q Comm for the simplicity, power and flexibility that their back office system offers us. We have successfully tested their systems, are pleased with their prepaid platform, and like the flexibility of supporting both the q xpress and VeriFone terminals.”
Darin Hunsaker, vice president of sales at Q Comm International, said: “Tripoint Payment Systems has significant merchant processing presence in the Bahamas. With their many direct retail relationships, they have the ability to effectively offer prepaid services throughout the Bahamas. We are excited to be working with them as they roll out services.”
ABOUT Q COMM INTERNATIONAL:
Q Comm International is a prepaid transaction processor that electronically distributes prepaid products from service providers to the point of sale. Key components of Q Comm’s offering include proprietary prepaid transaction processing platforms, support of various point-of-sale (POS) terminals, product management, merchandising, customer support and engineering. Q Comm systems replace traditional hard cards (also known as scratch cards or vouchers) that are costly to distribute, and provide more comprehensive reporting and inventory management among other benefits. Q Comm’s solutions are currently used by wireless carriers or mobile operators, telecom distributors, and various retailers to sell a wide range of prepaid products and services including prepaid wireless or prepaid mobile, prepaid phone cards, prepaid dial tone and prepaid bank cards, such as prepaid MasterCard. Visit www.qcomm.com for more information.
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other factors identified in the company’s filings with the Securities and Exchange Commission, including the Form 10-K for the year ended Dec. 31, 2003, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
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