FreedomPay(R) Announces the Patriot Card(TM), A Virtual Payment Card Leveraging the Benefits of ACH and Check Conversion Networks

WAYNE, Pa., March 18 /PRNewswire/ -- FreedomPay, Inc., the leader in contactless transactions and settlements to the nation's largest hospitality foodservice providers, healthcare systems, Fortune 1000 corporations, and educational institutions, today announces availability of the Patriot Card business-to-business closed network payment system.

"FreedomPay is the leader in closed-network cafeteria payments, and today we are leveraging that expertise to provide a low cost electronic payment alternative for catering services," said Sam Bellamy, COO of FreedomPay. "Cash, personal credit cards and employee reimbursements represent an antiquated procurement system that is costly to both corporate customers and vendors. For catering customers, the Patriot Card eliminates administrative hassles like reimbursement processing that represents the bulk of procurement costs, while for catering vendors, it is much less costly than accepting credit and debit cards."

The Patriot Card(TM) is a lower cost alternative to the manual processing of payments and credit cards resulting in increased convenience and accounting for the consumer and increased profit for the caterer.

About FreedomPay, Inc.

FreedomPay(R) is the industry leader in Cashless transaction innovation to the nation's largest hospitality foodservice providers, healthcare systems, Fortune 1000 corporations, universities, and government and military installations, delivering a global infrastructure for world class payment, loyalty and settlement services. FreedomPay investors include: Goldman Sachs a global leader in corporate equity and mezzanine investing; Blue Run Ventures headquartered in Menlo Park, California, with offices in Helsinki, Herzelia (Israel), Mumbai, Seoul and Shanghai; and Core Capital Partners headquartered in Washington, DC, focused on investing in companies where technology is a driver of change in the business sector. Learn more about FreedomPay at http://www.freedompay.com.