Toronto, Ontario, March 2004 —EFT Canada Inc.,
a leading provider of innovative electronic transaction processing
solutions, announced today that Metro Credit Union has begun to
offer EFT Canada's web-based electronic transaction processing
Founded in 1949, Metro Credit Union is a full-service financial co-operative,
serving businesses, organizations and individuals in the Greater Toronto Area
through a network of 10 branches. Metro Credit Union provides a full range of
banking services to its 42,000 members, including commercial loans, lines of
credit, mortgages, term deposits and other investment options. Metro Credit Union
has assets under administration of more than $500 million.
The web-based electronic transaction processing solution provides Metro Credit
Union with the tools to better serve the electronic transaction needs of its
business and organization members. In particular, the solution will enable members
to create and manage electronic transactions and customer profiles, in addition
to having full access to a suite of reporting functions.
EFT Canada is a leading provider of proprietary electronic transaction processing
solutions to financial institutions, businesses, and other merchants. According
to Randy Waxman, Executive Vice President for EFT Canada, "organizations
are turning to electronic transaction services as a way to increase sales, realize
fee savings and marketing effectiveness, and deliver enhanced services across
all channels. EFT Canada’s transaction processing software is a great solution
for financial service organizations that are looking to get started quickly and
cost-effectively in electronic transaction processing. Our offering and expertise
in this market gives these firms the ability to increase revenue, margins and
"Our business and organization members want convenience,
timeliness and accuracy,” said Howard Bogach, CEO of Metro
“This new partnership with EFT Canada provides the technology
and service we need to satisfy these requirements.”
"EFT Canada’s web-based solution will provide the
business and organization members of Metro Credit Union with
fast and informative services across all electronic transaction
processing channels. This will be of great assistance to Metro
Credit Union in delivering superior transaction processing service," stated
Jonathan Pasternak, EFT Canada's President.
About EFT Canada Inc.
EFT Canada Inc., headquartered in Toronto, Ontario, offers a
complete solution to the collection and payment processing needs
of merchants, banks, credit unions, and other financial firms
in Canada and the United States. The Company develops, maintains
and delivers innovative electronic transaction processing technologies,
such as customized electronic payment and collection processing
solutions, by drawing on its operational and applications expertise.
More information can be found on the corporate web site at www.eftcanada.com.
Certain statements in this news release are not historical and
may constitute forward-looking statements reflecting EFT Canada
Inc.'s current expectations in the banking and payment solutions
businesses. Investors are cautioned that all forward-looking
statements involve risks and uncertainties, including, without
limitation, changes in market and competition, technological
and competitive developments, cooperation and performance of
strategic partners, and potential downturns in economic conditions
generally. Forward-looking statements are based on management's
estimates, beliefs and opinions on the date the statements are
made. EFT Canada assumes no obligation to update forward-looking
statements if circumstances of management's estimates, beliefs
or opinions should change.
For further information:
President - EFT Canada Inc.
info (at) eftcanada.com