OREM, Utah Q Comm International Inc. (AMEX:QMM), a provider of prepaid transaction processing and electronic
point-of-sale (POS) distribution solutions, today announced that Harry Hargens has been appointed and has accepted a seat on the company’s board of directors effective Sept. 1, 2004.
Hargens was instrumental in the creation and early development of the business of automating credit card processing at the Point of Sale (POS). He has been active in the payments/transaction processing industry since 1981, having held senior management positions responsible for sales, marketing, and product development at Omron, VeriFone, TransNet (now part of Paymentech), HONOR (STAR), and National Data (Global Payments). During the 1980s, at hardware vendors Omron and VeriFone, he helped to launch and grow the market for POS terminals that automate credit card transactions. Subsequently, at transaction processors TransNet, HONOR, and National Data, he helped drive continued market growth by developing and marketing innovative new transaction processing services. Presently, Hargens serves as a CEO, president, and director of InstaPay Systems Inc. (OTCBB:IPYS), the holding company of Kryptosima LLC, which he founded in 2000. Kryptosima’s innovation is a unique Internet Payment Gateway Service that enables Internet merchants to accept ATM Card payments. The company currently holds a patent in Europe and has an additional patent filed in the United States. Hargens holds an MBA with honors from The University of Chicago, and a BSEE with honors from Illinois Institute of Technology. Terry Kramer, CEO and president of Q Comm stated: «Harry brings extraordinary talent, depth and diversity of experience to our board. He has over 23 years of experience with leading companies in both transaction processing and point-of-sale terminal manufacturing. He has demonstrated particular expertise in the development and marketing of innovative point-of-sale terminals. He has been highly successful in launching new products, rapidly growing customer bases and retaining key accounts. He will be a great asset to Q Comm as we continue to grow our business.»
ABOUT. Q. COMM INTERNATIONAL:
Established in 1992, Q Comm International provides proprietary prepaid transaction processing and information management systems that facilitate electronic recharge or distribution of prepaid products from service providers or their distributors to retail points of sale. Q Comm’s solutions replace traditional hard cards (also known as scratch cards or vouchers) that are costly to distribute, and provide more comprehensive reporting and inventory management among other benefits. In concert with its proprietary data center platform, Q Comm’s point-of-sale terminal, Qxpress 200™, is currently used by wireless carriers or mobile operators, telecom distributors, and various retailers to sell a wide range of prepaid products and services including prepaid wireless or prepaid mobile, prepaid phone cards, prepaid dial tone and prepaid bank cards, such as prepaid MasterCard. Visit www.qcomm.com for more information.
Statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. The economic, competitive, governmental, technological and other factors identified in the company’s filings with the Securities and Exchange Commission, including the Form 10-K for the year ended Dec. 31, 2003, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.
