FastFunds Financial Announces New Contract.MINNEAPOLIS -- FastFunds Financial Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FFFC FFFC Force Flow Fusion Center ) ("FastFunds" or the "Company"), a provider of comprehensive cash access services under the trademarked name FastFunds to gaming facilities, retail locations and corporations, announced today that it has executed a new multi-year contract for cash access services offered through its wholly-owned operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Chex Services, Inc. The new contract with the Eagle Mountain Casino located in Porterville, California Porterville is a city in Tulare County, California, United States. The population was 51,467 at the 2007 census. The city's population grew dramatically as the city annexed many properties and unincorporated areas in and around Porterville. , provides for comprehensive cash access services via full booth operations including FastFunds' ChexGuard(TM) electronic check conversion system and CreditGuard(TM) credit card cash advance system as well as ATM placements and processing. ChexGuard electronically converts customer checks into an electronic transaction utilizing the VISA banking rail to verify the account is open and the funds written for the check amount are currently in the customer's account. The funds are deposited into a merchant's account the following day, thus significantly speeding up deposits versus the manual deposit method and decreasing overall bank charges. CreditGuard is a proprietary credit and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. cash advance system that allows casinos and retail customers to have the funds electronically transferred into their account, thus maximizing their cash position and expediting the float of funds. FastFunds Financial Corporation is a holding company operating through its wholly-owned subsidiaries, Chex Services, Inc. of Minnetonka, Minnesota For other uses, see Minnetonka (disambiguation). Minnetonka is a suburban community located eight miles west of Minneapolis in Hennepin County. Its 2000 population of 51,480 makes it the fourteenth largest city in Minnesota. , and FastFunds International, Inc. based in London, England. Chex Services provides comprehensive cash access services to casinos and other gaming facilities under the trademarked name FastFunds. The Company specializes in, and is the industry leader for, full booth operations to Native American casinos and has developed a suite of cash access products for use in the traditional gaming and retail markets. Chex Services' website is located at www.fastfundsonline.com. The Company is majority owned by Equitex, Inc. (Nasdaq:EQTX), a holding company based in Englewood, Colorado Englewood is a city in Arapahoe County, Colorado, USA. As of 2005, the city is estimated to have a total population of 32,350.[5] It is part of the Denver-Aurora Metropolitan Area. . Certain information contained in these materials is "forward-looking" information, such as projections, estimates, pro formas As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma , or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the Company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information. |
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