Olympia, WA, July 27, 2006 --(PR.com
)-- David Solomon, on behalf of Fast Transact, Inc. and Mark DoRan, on behalf of SimpleCash, LLC. (a separate and independent legal entity) signed documents that concluded the negotiations. The final agreement includes a reassignment of all domain names and trademark registrations associated with the change of ownership, management, and development of the working-capital program. Financial terms and conditions were not disclosed.
Fast Transact’s original vision was to create a short-term funding alternative for small and mid-sized businesses, based on their future sales volume. “Our objective at this point in time,” according to David Solomon, CEO of Fast Transact, Inc. “is to more accurately reflect the company’s gateway technology and integrated services for credit card payment processing.”
“We are committed to providing the highest level of service to our clients. As we continue to focus on new product offerings,” added Solomon, “FAST TRANSACT will actively pursue viable strategic partnerships that enhance the processing options for both retail and Internet businesses. We look forward to being able to offer a number of other services within the near future.”
SimpleCash is an innovative short-term funding solution that allows a merchant to sell their future sales at a discount. The overwhelming majority of independent businesses do not have the assets, such as commercial real estate, to secure a standard or conventional bank loan.
“SimpleCash LLC primary business model intends to become the leading provider of non-traditional financial services to small businesses and merchants,” noted Mark DoRan who developed the program and added, “Our belief is that diverse directions have been taken by companies migrating into non-prime funding space as they have recognized the underserved market demand by businesses. These companies have emerged as a viable alternative for the delivery of financial services and financial products, and SimpleCash is a “best of breed” innovator within that emerging and underserved market”.
About Fast Transact, Inc.
FAST TRANSACT is a registered trademark of Fast Transact, Inc. Founded in 1995 and privately owned and operated, Fast Transact, Inc. is a registered ISO/MSP (Merchant Service Provider) of JPMorgan Chase Bank. They specialize in integrated, electronic payment gateway technologies and provide nationwide merchant services for retail and Internet business owners. For information about credit card acceptance, payment gateways, ACH check services, gift / loyalty card payments, and affiliate partnerships, you can visit their website at www.fasttransactonline.com
About SimpleCash LLC
SimpleCash, LLC is currently based out of Plano, TX. For more information, you can go to www.simplecashfunding.com / Mark@SimpleCash.com
David Solomon, CEO - Fast Transact, Inc. - 360.357.1400
Mark DoRan - SimpleCash LLC – 972.983.4511