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GERMAN-based payment solution corp. are to deliver a cashless payment system for the new Nurburgring sports, business and recreation complex.

Nurburgring, one of the world's most famous Formula One motor racing venues, will officially open a ground-breaking new development in June 2009. And as part of the exciting development, German market leaders payment solution have been awarded the contract to supply a multi-functional payment card system for all the site's visitors.

Nurburgring's two million visitors per year will be able enjoy the benefits of a fully integrated access, ticketing and payment system using just a single card.

Kai Richter, Managing Shareholder of Mediinvest GmbH who are responsible for the Nurburgring project, said: "The Nurburgring recreational and business centre is a worldwide unique project.

"Our goal for visitors is to provide them with the very best levels of comfort, convenience and service while they are our guests.

"We were keen to introduce multi-functional payment technology to the venue and undertook an extensive research program into the project.

"We chose payment solution because the company has extensive experience in this field and has delivered similar solutions to a wide variety of leading sports stadia with great success."

German-based payment solution corp specialise in providing innovative cashless payment systems in stadiums and arenas.

They have successfully introduced systems to 2006 World Cup venues Cologne, Frankfurt and Kaiserslautern, the new 30,000 stadium of Bundesliga club Hoffenheim as well as English Football League club Coventry City.

Heinz-Peter Strömsdörfer, CSO/COO of payment solution, said: "We are delighted to be working with a partner of the stature and prestige of Nurburgring.

"This is a truly world class development and payment solution are honoured to be providing the multi functional payment card system.

"Football supporters in Germany, England and Switzerland have already seen the huge benefits of our cashless technology at our various stadia and we look forward to helping all the visitors to Nurburgring enjoy an even more pleasurable and convenient experience."