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TACOMA, Wash. -- HIMC Corporation (OTC:HMCO), a leading provider of Payment Services and Fast Transact, a leader in Internet and retail credit card processing, today announced that the companies have signed an exclusive merchant contract with Rent One Online.
Under the agreement, Rent One Online will utilize the HIMC/Fast Transact one-stop integrated Rental Payment Management solution with its web-based vacation rental software program. The company will begin converting its clients over to Fast Transact for credit processing beginning this week.
"At HIMC/Fast Transact we are pleased to form such a strong agreement providing the very best in payment processing options to the clients of Rent One Online," said Mike Durand, V.P. of Sales for HIMC. "Utilizing the Rental Payment Management solution Rent One Online will benefit from lower costs, faster transactions, and greater customer service. We are pleased to work along side Rent One Online as they are a clear leader in the vacation rental management industry."
"HIMC/Fast Transact are providers of solutions that bridge the gap between point-of-sale retail and internet credit card data compilation by seamlessly integrating existing software for targeted industry applications," said David Solomon, CEO of Fast Transact, Inc. "Our Rental Payment Management system is the only product available in the vacation and property management industry that marries both the retail and online merchant account service, with the gateway VeloCT service, into one point of contact. This allows us to offer better pricing for our customers and substantially improves customer service. Given our unique selling proposition we can offer to the vacation and property management industry, we are very excited about further exploiting our competitive advantages within this industry segment by actively pursuing additional contracts and increasing our market penetration within this space."
The agreement with HIMC/Fast Transact complements Rent One Online`s technological capabilities and adds value to our innovative vacation rental management and travel services platforms," commented Bart Meltzer, CEO of Rent One Online. "Fast Transact`s solution will enable our credit card transactions to qualify at the best lodging rate and minimize transaction processing time. This agreement strengthens our commitment to serve the needs of the vacation rental industry, by empowering vacation property owners and managers with premier professional tools."
About Rent One Online
Rent One Online provides 100% Web-based marketing, management and travel solutions for vacation rental managers. The Rent One Online mission is to bridge the gap that currently exists from the vacation property market to the larger travel services industry. Rent One Online does this by increasing marketing effectiveness, providing professional management tools and offering complementary and revenue-producing travel services. For more information, visit: www.RentOneOnline.com.
About Fast Transact, Inc.
On March 21, 2005, HIMC Corporation announced an agreement to acquire Fast Transact. Completion of the acquisition is subject to final approval by Fast Transact`s shareholders, which can occur only after the HIMC shares to be issued in the merger have been registered with the SEC.
Fast Transact was founded in 2002 as a privately held company in Olympia, Washington. The Company provides integrated electronic payment technologies for accepting, authorizing, securing, and processing credit card, check, and gift card payments for retail and Internet merchants nationwide. For more information, visit www.fasttransact.com.
About HIMC Corporation
Since 1996, HIMC Corporation ("HIMC"), through its wholly owned subsidiary ITI Internet Services Inc. ("ITI"), is a leading provider of Payment Services to over 25,000 customers. ITI Internet Services, Inc., offers a wide variety of payment, verification, and authentication systems, including the award winning PayByCheck service.
The PayByCheck services suite, provided through ITI Internet Services Inc., has been a leading provider of secure, real-time check and debit processing, Electronic Check Processing ("ECP"), refund and rebate check processing services, NSF Check processing and Automated Clearing House (ACH) transfers for international, national, regional and local businesses through the use of the Internet, telephone, wireless and point of sale (POS) devices. PayByCheck.com is ranked by Nilson in the top 10 for 2002-2004, and the third largest in customer base. For more information, visit the corporate web site at http://www.himc.com.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1955. Any "forward-looking statements" are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Any statements that are not historical fact (including without imitation statements to the effect that HIMC Corporation or its management "believes," "expects," "anticipates," "plans," "looks forward" and similar expressions) should be considered forward-looking statements. Factors that could cause actual results to differ from those indicated by such forward-looking statements include, uncertainties related to the Fast Transact acquisition, the demand for HIMC`s products and service offerings, expansion of HIMC`s business or increases in its revenues, profits or cash flows, competitive conditions in the industry, changes in technology, stock price volatility, the ability of the Company to attract and retain key personnel, general economic conditions as well as other risks and uncertainties.
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