TouchTunes Selects Optimal Payments to Enhance Payment Options
---Network of more than 23,000 jukeboxes with over 12 million unique consumers every month---
Montreal, Quebec, and Lake Zurich, Illinois, December 11, 2006 – Optimal Payments Inc., a wholly-owned subsidiary of Optimal Group Inc. (NASDAQ:OPMR), and TouchTunes Music Corporation today announce that TouchTunes has selected Optimal Payments to process credit and debit card payments for its music-on-demand, digital-downloading jukeboxes.
TouchTunes delivers music on its network of more than 23,000 digital touch-screen jukeboxes in commercial locations across the United States and Canada and in Latin America. The jukeboxes in the TouchTunes network are connected via broadband or dial-up and provide music to an average of over 12 million unique consumers per month. Prior to the enhancements offered through Optimal Payments, TouchTunes jukeboxes only accepted cash.
"We are very pleased that we were selected by TouchTunes, the world leader in digital jukeboxes. TouchTunes fits perfectly into our strategy of focusing on payment processing for the digital music market." said Doug Lewin, President of Optimal Payments.
"Optimal Payments' expertise in specialized payment solutions was a key factor in our selection process. We require a reliable payment solution with integrated fraud prevention," said John Perrachon, President and Chief Executive Officer of TouchTunes. "The addition of credit and debit cards as payment options significantly enhances our offering," added Mr. Perrachon.
Under the terms of the agreement, Optimal Payments will provide TouchTunes with the ability to accept U.S. dollar payments from consumers' Visa and MasterCard credit and debit cards.
About TouchTunes
TouchTunes is the world's leading provider of interactive, music-on-demand, digital-downloading jukeboxes. TouchTunes delivers music and advertising on its network of more than 23,000 digital touch-screen jukeboxes in commercial locations across the United States and Canada and in Latin America. All jukeboxes in the TouchTunes network are connected via broadband or dial-up and provide music to over 12 million unique consumers every month. TouchTunes has downloaded and played in excess of 1.0 billion songs since inception, growing at a rate of 450 million per year. TouchTunes has signed agreements with all major and most independent music labels, which permit the secure transmission, storing and playing of digitized copies of music masters on TouchTunes' central database and throughout its network of digital jukeboxes. TouchTunes is privately owned and has offices in Montreal (Canada) and Lake Zurich (Illinois). The company's latest information can be viewed at www.touchtunes.com.
About Optimal Payments
Optimal Payments, with operations throughout North America and in the United Kingdom, processes credit card payments for Internet businesses, mail-order/telephone-order and retail point-of-sale merchants, and processes electronic checks and direct debits online and by phone.
For more information about Optimal, please visit the Company's website at www.optimalpayments.com.
Doug Lewin
President
Optimal Payments Inc.
(514) 380-2701
doug@optimalpayments.com
Optimal Payments' Cautionary Statements Regarding Forward-Looking Statements
This Press Release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Words such as "expects", "intends", "anticipates", "plans", "believes", "seeks", "estimates", or variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements include, but are not limited to, statements about our current expectations with respect to our future growth strategies, opportunities and prospects, competitive position and industry environment. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities, or those of the markets we serve, to differ materially from those expressed in, or implied by, these forward-looking statements, including:
- existing and future governmental regulations;
- general economic and business conditions in the markets we serve;
- consumer confidence in the security of financial information transmitted via the Internet;
- levels of consumer fraud, disputes between consumers and merchants and merchant insolvency;
- our ability to safeguard against breaches of privacy and security when processing electronic transactions;
- the imposition of and our compliance with rules and practice procedures implemented by credit card and check clearing associations;
- our ability to adapt to changes in technology, including technology relating to electronic payments systems;
- our ability to protect our intellectual property;
- our relationships with our suppliers and the banking associations that we rely upon to process our electronic transactions;
- disruptions in the function of our electronic payments systems and technological defects; and
- the factors described under Item 1A "Risk Factors" in the Optimal Group Inc. Annual Report on Form 10-K for the year ended December 31, 2005, and its Quarterly Report on Form 10-Q for the three months ended September 30, 2006.
There may be additional risks and uncertainties and other factors that we do not currently view as material or that are not necessarily known. The forward looking statements made in this document are only made as of the date of this document.
Except as required by applicable securities laws, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changes in circumstances or any other reason after the date of this quarterly report.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about their companies without fear of litigation. We are relying on the "safe harbor" provisions of the Private Securities Litigation Reform Act in connection with the forward-looking statements included in this quarterly report.
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