ESI Entertainment Systems Inc. ("ESI") (TSX:ESY) a leading provider of secure payment processing services to the international online gaming industry, today announced that its wholly owned subsidiary, Citadel Commerce Corp., will pilot its SecureSwipe(TM) device with Leisure & Gaming plc. The SecureSwipe(TM) device is a point of sale terminal which enables an end user to swipe a credit or debit card and enter a PIN to conduct an immediate secure payment from home.
"We have revolutionized the way on-line gaming merchants and their customers conduct business over the Internet," said Michael Meeks, President of ESI and Citadel Commerce. "The combination of myCitadel Wallet and our SecureSwipe(TM) pinpad enables our merchants to record transactions as 'card- present' and we are very pleased to include Leisure & Gaming into our pilot."
SecureSwipe(TM), which plugs into any personal computer via standard USB connection, enables consumers to pay securely for gaming site services with either a credit or debit card. A consumer can now transfer eMoney into their myCitadel Wallet and pay by physically swiping their credit card at home using an assigned SecureSwipe(TM) pinpad device and electronically signing a receipt. Citadel Commerce correctly codes the credit card transactions according to card association regulations, and the purchases are approved because the payments are treated as card-present transactions.
"The entire concept of myCitadel Wallet and SecureSwipe is geared towards increasing credit card acceptance, in turn simplifying customer acquisition and retention," said Alistair Assheton of Leisure & Gaming. "Given our strategic focus on these areas, we're pleased to be partnering with Citadel Commerce during the pilot phase of their SecureSwipe product launch, and look forward to working with them as the product is rolled out across our business in the months ahead."
The credit card is the most popular and preferred payment method for on-line consumers. A large percentage of cardholders do not, or cannot, use their credit cards to pay for purchases on the Internet due to coding parameters imposed by card associations for card-not-present transactions and/or concerns related to credit card fraud.
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc. is a public company traded on the Toronto Stock Exchange (TSX: ESY). Its wholly owned subsidiary, Citadel Commerce Corp., is recognized as a leading provider of secure and efficient payment processing services to the international online gaming industry.
About Leisure & Gaming plc
Leisure & Gaming plc is a holding company focused on the interactive betting and gaming sector. L&G is listed on the AIM and made its first acquisition of VIP Management Services N.V. and Bon Bini Investments N.V. (together "VIP") on 28th June 2005. Through its VIP subsidiary, the Company operates a number of online sports betting and casino gaming brands including VIP.com and Nine.com.
Forward-looking Statements
This news release contains forward-looking statements concerning ESI Entertainment Systems Inc, which statements can be identified by the use of forward-looking terminology such as "expect", "proposed", "may", "plan", "intend", "will", "would" or the negative thereof or any other variations thereon or comparable terminology referring to future events or results. Forward-looking statements are statements about the future and are inherently uncertain, and the actual events or results could be materially different than those anticipated in those forward-looking statements as a result of numerous factors discussed more fully in the Company's Final Prospectus dated March 22, 2006 and elsewhere. These risks include risks related to revenue growth, operating results, industry growth, changes in regulation and legislation, products, technology, financing, competition, personnel and other factors affecting the Company and its business, any of which could cause actual events or results to vary materially from ESI's anticipated future results. Forward-looking statements are based on beliefs, opinions and expectations of ESI's management at the time they are made, and ESI does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change. The Toronto Stock Exchange does not accept responsibility for this press release.
For further information: ESI Contact: Dan Parmar, Chief Financial Officer, Telephone: (604) 299 6922 ext 375, Email: dparmar@esi.ca; Citadel Commerce Contact: Donna Montgomery, Director of Marketing, Telephone: (604) 299 6924 ext 306, Email: dmontgomery@citadelcommerce.com; The Equicom Group Contact: Dave Feick, Managing Director, Western Canada, (403) 538-4787, dfeick@equicomgroup.com