News

PayStar lands funding for hotel project

May 15, 2002

LODI, Calif. -- PayStar Corp. (OTCBB:PYST) has obtained a commitment from The KVI Capital LLC to fund PayStar's rollout of Internet and loyalty-club kiosks at Choice Hotels International (NYSE:CHH) locations.

PayStar officials did not disclose the level of KVI's funding commitment. The deal completes an overall agreement with KVI covering all of PayStar's kiosk activities. KVI is a leasing and creative financing solutions company based in Jacksonville, Fla.

"With funding in place, we anticipate deploying Internet Transaction Machines in up to 50 percent of Choice's 3,200 locations by the end of fiscal 2002," Carla Buckner, PayStar senior vice president of sales and marketing, said in a news release.

PayStar exhibited its technology, which includes Internet and e-mail access, the ability to send flowers and electronic post cards, and an electronic concierge service, to Choice franchisees during Choice's annual convention in Atlanta in early May.