Rahaxi, Inc.’s Finnish Subsidiary Rahaxi Processing Oy Completes a Major EMV Roll-out in the Finnish Market

Finnkino Oy, the Largest Movie Theatre Chain in Finland with sales of 94,3 Million EUR in 2008, chose Rahaxi to provide complete EMV certified payments processing solutions…

HELSINKI, Finland, June 10 /PRNewswire-FirstCall/ — Rahaxi, Inc. (OTC Bulletin Board: RHXI), an international card payments processor and technology company, today announced that its wholly owned subsidiary, Rahaxi Processing Oy has completed a major EMV chip and pin roll-out in the Finnish Market, delivering a fully EMV certified, end-to-end payment processing solution to Finnkino Oy, the largest movie theatre chain in Finland. The roll-out demonstrates the trend of continuing high demand for Rahaxi’s international standard payments processing products and services offering in the Finnish market.

Paul Egan CEO of Rahaxi Inc. said: “This rollout demonstrates the level of progress that Rahaxi has made in its overall EMV strategy for Finland and Scandinavia as a whole. Our relationship with Finnkino Oy, a large blue chip company further supports the view in the marketplace and payments industry, that Rahaxi’s payment solutions are indeed of the highest standards.” Egan added, “Furthermore we look forward to working more closely with the Rautakirja Group in Finland for further planned rollouts which will lead to a significant increase in revenues for Rahaxi.”

About Finnkino Oy

Finnkino Oy operates the largest chain of cinemas in Finland. The company was founded in September 1986 as a consortium of a total of 34 companies engaged in film distribution and exhibition. Finnkino has been a part of the Rautakirja Group since 1994. Finnkino currently operates 16 cinemas in eleven cities in Finland. The 16 cinemas have a total of 94 screens. Alongside its operations in the domestic market, Finnkino has subsidiaries in Latvia, Lithuania and Estonia.

Finnkino is continuously developing its cinema services, both by building new theatres and refurbishing existing ones. Finnkino’s aim is to develop and expand the cinema-going experience by offering a combination of quality films, the very best in comfort and audio-visual technology, and a wide range of ancillary services.

Rautakirja Movie Operations recorded net sales of EUR 94.3 million in 2008. Movie Theatre Operations employed an average of 982 persons over the year, with the great majority of these working in the chain of cinemas.

For more information, please visit http://www.rautakirja.fi/index.cfm?pageid=240

About Rahaxi Inc.

Rahaxi Inc. provides mission-critical solutions to the financial industry worldwide. Working with merchants and acquirers in more than twenty countries, its product suite has empowered partners to focus on their core competencies, while its innovative driven approach has enabled them to benefit from first to market advantage and realize their true potential. Rahaxi Inc. has adopted a partnership strategy for growth. Its partners are market leaders in their respective industries. These include IKEA, Finnair and Stockmann. Its subsidiaries, Rahaxi Processing Oy, Finland, FreeStar Technologies Ireland, Ltd., and FreeStar Dominicana S.A. Dominican Republic, continue to develop and implement first class products and solutions that enhance the service level its partners can offer their customers.

For more information, please visit http://www.rahaxi.com

    Contact
    For more information, please contact:

    At Rahaxi Inc.
    Fionn Stakelum
    f.stakelum@rahaxi.com

    At Finnkino Oy
    Mr. Janne Uusi-Kolli
    Head of Development
    Tel. +358-9-1311-9270

SOURCE Rahaxi, Inc.