PRESS RELEASE
 
March, 2004:
EFT CANADA LICENSES TRANSACTION PROCESSING SOLUTION
TO METRO CREDIT UNION (Update Oct, 2005 - Metro Credit Union is now Alterna Savings)

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 solution.

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 customer loyalty."

"Our business and organization members want convenience, timeliness and accuracy,” said Howard Bogach, CEO of Metro Credit Union. “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.

Forward-Looking Statements

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.

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For further information:

Jonathan Pasternak
President - EFT Canada Inc.
(416)781-0666
info (at) eftcanada.com