×

General Payment Systems Announces Technology License Agreements, New Installations

IRVINE, Calif., Sept. 11, 2013 (GLOBE NEWSWIRE) -- General Payment Systems, Inc. (OTC:CPSZD) (the "Company") - a payment processing technology company that specializes in the $500 billion government payment space, is pleased to announce that the company has licensed its technology for specific and defined markets to Municipal Solutions, EZ Pay Corporate, EZ Payment Systems and EZ Pay Missouri. The licensing of the Company's software to these companies provides revenue to General Payment Systems via a licensing fee and ongoing residual royalties for contracts secured by the licensee.

"The licensing of our software to capable licensees allows us to penetrate our target markets even more quickly," stated Ron Hodge, President, General Payment Systems. "Our own experience tells us that relationships can greatly expedite the sales cycles and by leveraging licensees and their relationships we can get our technology earning in more locations more quickly."

"Our licensees have already secured accounts in multiple states which we will soon announce," added Hodge. "We have high expectations that our licensing efforts will be a significant contributor to the aggregate revenue pattern of General Payment Systems. As we continue to pursue more accounts with our own team, there will be a parallel effort by our licensees to secure even more market share."

About General Payment Systems

General Payment Systems Inc. (dba EZ Card and Kiosk) is a technology company that provides government agencies with proprietary hardware (Kiosks) and cloud based software systems that automate the process of collecting payments from the general public (Cash, Debit and Credit). These systems deliver payment acceptance, real-time accounting and payment risk-mitigation services. The company distributes these technologies through direct sales, channel partners, and various licensed entities.

For more information visit www.ezcardandkiosk.com

To receive future updates regarding General Payment Systems please send a request to info@integrityir.com

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company's past performance isn't necessarily indicative of its future performance. The Company doesn't undertake, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

CONTACT: Integrity Investor Relations www.IntegrityIR.com (702) 396-1000Source:General Payment Systems, Inc.