QuickLinx(TM) card will provide more convenient access
TSX Venture Exchange Symbol: PIN
EDMONTON, March 24 /CNW/ - Pay Linx Financial Corporation ("Pay Linx" -
TSXV: PIN) has signed an agreement with RBC to provide prepaid debit card
services through an electronic benefit payment card. The RBC QuickLinx Prepaid
Benefit card is designed for government agencies as an alternative to issuing
Pay Linx has been working with RBC to develop and deliver a benefit
payment card and related services. As RBC implements a prepaid platform for
consumers, Pay Linx has been enlisted to provide back-end services, processing
and customer support for RBC's QuickLinx cardholders.
"Pay Linx is an industry leader in innovative prepaid payment solutions,"
said Anne Koski, head RBC Card Innovations. "We're pleased to have their
expertise and processing capabilities to provide a high quality prepaid
service to our clients."
Similar to a debit card, the QuickLinx card gives cardholders convenient
access to their benefit payments by being able to withdraw cash at ATMs and
make purchases at most stores in Canada using the point of sale ("POS")
terminals displaying the Interac symbol. For some government agencies this
means they will be able to provide ready access for individuals who are
receiving benefit or social assistance payments.
"The success we recorded in a pilot project that has been operating since
March 2006 with the Alberta Employment, Immigration and Industry enabled us to
secure this agreement with RBC," said Pay Linx's President, Ian McNeill. "Our
benefit payment card is unique and not only provides cost benefits to clients,
it also allows them to provide better service to their customers. In this
regard, we are looking forward to working with RBC to provide services to
their customers through our benefit payment card service."
About Pay Linx
Pay Linx delivers affordable, accessible and contemporary payment
processing services that integrate seamlessly into North America's existing
financial systems for financial institutions and their/our corporate and
government clients. Pay Linx is 25% owned by Royal Bank of Canada. Pay Linx
cornerstone Application Service Provider product is a Payment Card solution
and is in the business of processing and managing electronic payment cards.
Pay Linx partners with the best in the industry, securing relationships with
established, reliable partners with broad market reach and utilizing
contemporary ATM, Point of Sale (POS) and online technology. As a result, we
set the industry standard for security, affordability and user responsiveness.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Certain statements contained herein may constitute forward-looking
statements. These statements relate to future events or our future
performance. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often, but not
always, identified by the use of words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict",
"potential", "targeting", "intend", "could", "might", "should", "believe" and
similar expressions. These statements involve known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking statements.
We believe that the expectations reflected in the forward-looking statements
are reasonable based upon management's current views but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon. No assurance can
be given that actual results, performance or achievement expressed in, or
implied by these forward-looking statements will occur, or if they do, that
any benefits may be derived from them. Past results have been applied in
drawing a conclusion or making a forecast or projection set out in the
For further information:
For further information: Ian McNeill, President and CEO, Pay Linx
Financial Corporation, Tel: (780) 702-4710, Email: Ian.Mcneill@PayLinx.ca,
www.paylinx.ca; Marshall Rosichuk, CMA, CFO, Pay Linx Financial Corporation,
Tel: (780) 702-4702, Email: Marshall.Rosichuk@PayLinx.ca, www.paylinx.ca