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International Card Establishment Enters Into Marketing Agreement to Offer Credit
Card Services to Canadian Merchants
Wednesday January 14, 6:00 am ET
Company Pursues Additional Non-U.S. North American Markets
OXNARD, Calif., Jan. 14 /PRNewswire-FirstCall/
-- International Card Establishment, Inc. (I.C.E.) (OTC Bulletin
Board:
ICRD -
News) today announced that it had entered into a marketing
agreement with a Toronto, Canada based company to provide credit
card services to merchants throughout Canada. I.C.E. will begin
marketing Visa and MasterCard to Canadian merchants immediately.
The Canadian company's name is not being disclosed for
competitive reasons.
The terms of the agreement call for ICE and its
Canadian partner to share equally in the net revenues generated
by their joint marketing and sales efforts.
"We are extremely pleased to offer credit card
services to Canadian merchants," said Jonathan Severn, Chairman
and President, I.C.E. "Our goal is simple. We aim to capture
market share by providing lower rates and better services than
are currently available." Mr. Severn went on to add, "I.C.E. is
pursuing entry into several other non-U.S., North American
markets; we hope to announce further expansion in the near
future."
In order to effectively capture market share in
Canadian credit card processing transactions among small
merchants, I.C.E. will use its internal sales force to conduct
direct mail and telemarketing campaigns to small merchants
throughout Canada, while its Canadian partner will concentrate
on providing face-to-face and technical support services on the
ground in Canada.
About I.C.E.
I.C.E. (http://www.cardnetone.com/) is a rapidly growing provider
of diversified products and services to the electronic transaction
processing industry. I.C.E. establishes merchant accounts for
businesses that enable them to accept credit cards, debit cards
and other forms of electronic payments; supplies point-of-sale
systems; facilitates processing; and markets a proprietary “Smart
Card"-based system – which allows gift and loyalty functions to be
stored on one card -- that enables merchants to offer
store-branded gift and loyalty cards.
Forward-Looking Statements
This press release may contain forward-looking statements that are
subject to risks and uncertainties. Important factors which could
cause actual results to differ materially from those in the
forward-looking statements, include but are not limited to: the
company's short operating history which makes it difficult to
predict its future results of operations; the company's initial
history of operating losses with possible future losses which
could impede its ability to address the risks and difficulties
encountered by companies in new and rapidly evolving markets; the
company's future operating results could fluctuate which may cause
volatility or a decline in the price of the company's stock; the
possibility that the company may not be able to price its services
above the overall cost causing its financial results to suffer;
and other factors detailed in this press release and in future
company filings with the Securities and Exchange Commission, at
such time as the company is required to report its results of
operations under the Securities Exchange Act of 1934, as amended.
Investor Relations Contact:
PAN Consultants, Ltd.
Philippe Niemetz,
toll-free: 800/477-7570
212/344-6464
email: p.niemetz@panconsultants.com
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