Expedia Selects Bibit

Bibit Global Payment Services, the leader in providing international payment services, announced that it has been selected by Expedia, Inc. to process all merchant payment transactions conducted through the online travel company’s international web sites.

“A highly reliable payment processing solution, addressing local payment needs in each region, is essential for our international operations,” said Tom Sullivan, E-Commerce Risk Manager for Expedia(R). “The functionality provided by Bibit allows us to accept multiple domestic payment methods in various currencies, including the Euro.”

Expedia, Inc. (Nasdaq:EXPE) operates the Expedia.com(R) online travel service in the United States with localized versions for travellers in Canada, Germany, the United Kingdom, France, Italy and the Netherlands. The partnership with Bibit offers Expedia an identical payment component/solution for each non-U.S. operation.

“By standardizing on one payment service for its entire non-U.S. merchant operations, Expedia will benefit from streamlined reporting and reconciliation procedures across multiple business units,” said Joost Schuijff, CEO of Bibit.

About Bibit

Bibit Global Payment Services ([www.bibit.com][1]) is one of the world’s leading Payment Service Providers. Bibit specializes in processing payments, originating from various channels, over an Internet infrastructure. The company provides a multi-lingual, end-to-end Payment Service that combines 60 multi-currency and international payment methods into a single digital solution. Bibit’s extensive international client list includes multi-channel retailers, as well as pure web shops, call centers, and physical points-of-sale. Customers include Dell Computer Corporation, The Financial Times, Canon, and Fleurop Interflora. Bibit is a privately held company.

About Expedia, Inc.

Expedia, Inc. (Nasdaq:EXPE) operates Expedia.com(R), an independent leading on-line travel service in the United States, with localized versions in Europe and Canada. To help travelers travel right, Expedia.com provides a wide variety of travel products and services, such as Expedia(R) Special Rate hotels and vacation rentals with the guaranteed lowest prices. Expedia’s quality and leadership are recognized by several awards, including, Yahoo! Internet Life’s “Best Overall Travel Site,” one of Mobile Computing & Communications’ “Best Mobile Web Sites of 2001,” both PC Magazine’s “Readers’ Choice” and “Editors’ Choice” Awards, Forbes’ “Favorite General Travel Site,” and Smart Business’ MVP Award. Expedia is ranked the seventh largest travel agency in the U.S. according to Travel Weekly Magazine.

Expedia.com customers are supported by a credit card guarantee (U.S. site only), an industry-leading privacy policy, and live agents via e-mail and an 800-number available 24 hours a day/seven days a week. Expedia.com is also available under Travel on the MSN(R) network of Internet services.

[1]: http://www.bibit.com



Oberthur Card Systems, a global leader and innovator in the smart card industry, will supply more than 40,000 multi-application Visa cards to St. George Bank and Worldsmart Technology Pty Ltd for the first Australian cashless payment and customer loyalty combined program in Queensland, Australia. In its initial rollout, Visa Cash terminals will be installed in more than 50 Queensland outlets of Giants Liquor and Jackpot Hotel groups.

Funds can be loaded to the customer’s Visa Cash electronic purse either from a check or savings account or by cash provided to the merchant at these terminals. The card can then be used to pay for goods and services at these retail outlets and earn reward points. Customers can instantly redeem their e-asy points at participating outlets and merchants, be it a range of retailers, groups, or clubs.

“As the world’s leading supplier of Visa cards, Oberthur works very closely with Visa International. The GalactIC Lite card was developed as part of the Visa Breakthrough program which was initiated more than a year ago to remove barriers to mass adoption of highly secure, multi-application cards by Visa member banks,” says Xavier Fricout, Managing Director of Oberthur Card Systems for Asia Pacific.

The card, Oberthur’s GalactIC Lite, incorporates the Visa Cash DES (e-purse) application with WST loyalty application and St. George Bank Load Restriction application. A secure key management system to protect the applications and their interactions with the loyalty terminals was also developed using Oberthur’s Security Access Module (SAM) cards.

This new smart card technology-based program is jointly offered by St. George Bank and WST and combines St. George’s expertise with Visa Cash electronic purse and WST’s successful loyalty program, e-asy points. The first of its kind of integrated and innovative solution at point-of-sale for cardholders and merchants, the program includes loyalty points, Visa Cash, multi-application smart cards, EFTPOS[1] terminals, cash registers, and the Internet.

“The benefit of Open Platform technology is that Visa branded cards can be tailored to market segment and customer’s individual needs, which creates a flexible and secure way to purchase goods and services,” said Vipin Kalra, Head of Chip Cards, Visa International, Australia and New Zealand.

“We are pleased to have worked with Oberthur Card Systems to offer this technology to St George Bank and WST,” Kalra added.

About Oberthur Card Systems

Oberthur Card Systems (listed on the Euronext Stock Exchange Code Euroclear 12413) is a leading provider of card-based products, software and applications including SIM and multi-application smart card-based solutions, consulting, personalization and card services.

A global player and innovator in the smart card industry, championing EMV and open standards, Oberthur maintains a leading position in the payment cards market as the world s number one supplier of Visa and MasterCard branded cards as well as in network security, m-commerce and Pay-TV fields.

With unrivalled expertise in JavaTM and GSM technologies, Oberthur delivers the most advanced, open and interoperable SIM, WAP and 3G (IMT-2000/UMTS) solutions to mobile operators thereby transforming the nature of mobile communications.

With revenues of EUR 484.2 million in 2001, Oberthur Card Systems has an international reach with an industrial and commercial presence in 21 countries across the five continents.


About Visa International

Visa is the world s leading payment brand and the largest payment system worldwide. Visa-branded cards generate US$2 trillion in annual volume and are accepted at over 22 million locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce – the ability to conduct commerce anytime, anywhere, and any way. For more information, visit www.Visa.com.

About St. George Bank

St.George, the nation s fifth largest bank, continues to offer Australians a genuine, customer-focused banking alternative by differentiating itself from the four major banks in terms of quality of service and value offered. St.George s close relationship with its customers, reflected in its high levels of customer satisfaction when compared to the major banks, distinguishes St.George from its competitors.

Founded in 1937 as a housing-based financial institution, St.George built a reputation as Australia’s foremost building society, before achieving full banking status in July 1992. On 29 January 1997, St.George acquired all the issued ordinary share capital of Advance Bank. The merger with Advance substantially added to the St.George customer base and reinforced the Bank’s financial strength, the scale of operational efficiencies and the breadth of services and skills.

About Worldsmart Technology

Worldsmart Technology is a provider of smart card systems to the Sporting, Retail and Gaming Industries and an approved supplier of Loyalty Systems to Visa International.

The e-asy point program has been designed to allow a group of unrelated venues/retailers to participate in a smart card Loyalty program with or without the expense of the manufacture and distribution of cards to customers.

The program operates on an Open Platform Smart card and will also provide an electronic purse.

The program requires the installation of Bank terminals at Point of Sale devices, a Data Collection Unit and access to the Internet. It can also offer, in approved jurisdictions, a Card based Gaming functionality.



Official Payments Corporation said Tuesday it has received authorization from VISA USA to accept VISA cards for payment of federal and state income taxes. VISA has largely been a holdout in the tax payments via credit card market. VISA regulations prohibit merchants from charging a fee to cardholders for acceptance. OPC generally charges consumers a fee of approximately 2.5% for each transaction since most government entities will not pay a merchant fee for such transactions. Currently, OPC has agreements to collect and process credit card payments with the IRS, 21 state governments, and more than 1,200 counties and municipalities. In 2001, OPC collected and processed more than one million transactions totaling $1.2 billion in federal, state, and local government payments. OPC reported revenues for the fourth quarter of $4.3 million, a 37% increase over 4Q/00. The net loss on a GAAP basis for the current quarter was $9.4 million compared to a net loss of $6.1 million for the fourth quarter ended Dec 31, 2000. Net loss on a GAAP basis for 2001 was $41.3 million. Revenues increased 21% to $31.4 million for the fiscal year 2001. During the fourth quarter, the company underwent a corporate restructuring intended to reduce significantly the company’s operating expenses and use of cash. For complete details on OPC’s 4Q/01 results visit CardData ([www.carddata.com][1]). (CF Library 1/25/02)

[1]: http://www.carddata.com



Arcot Systems, Inc. and Oasis Technology Ltd. announced an agreement to package Arcot’s authentication software with Oasis’ payment engine to speed delivery of a more secure online payments infrastructure for credit and debit card issuers and merchants.

The two companies plan to co-market a payments processing and authentication solution suite to their respective client bases. By aligning Arcot’s TransFort payer authentication product with Oasis’ IST/Card issuing and acquiring software and the e-merchant component of IST/Switch, the two companies will provide banks and merchants with a complete solution that offers consumers greater security and control over when and where their card is used online, while also delivering reliable and proven transaction processing capabilities.

The primary aim of enhanced authentication software is to dramatically reduce the number of disputed transactions resulting from fraudulent use of credit cards on the Internet. It is estimated that more than 80 percent of all web-based fraud and chargebacks could be eliminated by authenticating the cardholder at the time of purchase. Both Oasis and Arcot firmly believe that the joint offering will have strong appeal among Visa and MasterCard issuing banks and merchants.

“We are pleased to be working with Oasis to deliver a comprehensive solution for online authenticated payments,” said Chet Silvestri, president and CEO of Arcot Systems. “By combining Arcot’s TransFort solution for the Verified by Visa program with Oasis’ payment software, we will provide a robust approach to enhance the security of online payments for merchants and credit card issuers.”

Verified by Visa allows consumers to actively protect their Visa accounts from unauthorized use by selecting a personalized password for web purchases. Each time cardholders make purchases at participating online stores, they are automatically presented with a Verified by Visa window where they enter their password and authenticate themselves to the issuer. Verified by Visa significantly minimizes fraud and customer disputes because only the cardholder and their card issuer know the password.

“Oasis has a long track record with Visa, MasterCard, and their member banks for providing superior payments software that is proven, reliable and flexible,” said Ashraf Dimitri, president and CEO of Oasis Technology. “We believe this agreement with Arcot will extend and strengthen our position with these card associations in the online world. This is in keeping with Oasis’ commitment to be the leading provider of software to enable payments anywhere, any place on any device.”

Arcot Systems, Inc., is the leading provider of authentication and access control solutions for securing e-business in Internet-scale, transactional and wireless environments. Only Arcot provides cost-effective, scalable, software solutions based on the ArcotID(tm) Software Smart Card for strongly authenticating users and transactions for payment systems, Web-based email, Web portals and virtual private networks. Arcot solutions meet the business need for strong transactional security while providing the customer a user-friendly experience with anytime, anywhere convenience. Leaders in financial services, healthcare, and e-commerce are using Arcot solutions to protect their customers’ privacy and reduce fraud. For more information, visit ww.arcot.com.

Arcot TransFort strongly authenticates and digitally signs transactions in real-time, providing for the secure, non-repudiation of online payments. Scalable to hundreds of millions of transactions, Arcot TransFort allows companies to grow the volume and value of their online transactions and provide their customers with an added level of confidence and security in the business relationship.

Arcot TransFort is a multi-platform solution capable of authenticating transactions across Web, Virtual Private Network (VPN), and wireless environments. In addition, Arcot TransFort can comply with a variety of business rules or procedures that govern online payments and support multiple authentication methods including username/password (pass-code), physical smart cards (or “chip cards”), and the ArcotIDTM Software Smart Card.

Oasis Technology Ltd. is a leading provider of software to enable payments any time, any place, on any device. Since 1989, Oasis has worked with financial institutions, card associations, retailers, or any business reliant on payments to build the most secure, reliable and flexible payment infrastructures available. Oasis serves clients in more than 70 countries around the world, including ABN Amro, American Express, Citibank, Credicard/Redecard Brazil, Diners, Europay, Golden Card (China), MasterCard and Visa International. With corporate headquarters located in Toronto, Canada, the company also operates offices in Miami, Florida; Dubai, UAE; Kuala Lumpur, Malaysia; and supports an extensive network of international partners and sales representatives. Oasis is ISO 9001 registered.


Experian Acquisition

Experian yesterday said it has reached an agreement to acquire ConsumerInfo.com from Homestore.com, Inc. for $130 million in cash. ConsumerInfo.com is a major supplier of online credit reports, scores, and related information to consumers in the USA with nearly three-quarters of its revenue derived from membership subscriptions. Founded in 1997, ConsumerInfo.com currently has 778,000 members. Under ConsumerInfo.com’s program, members can access their credit reports as often as desired, monitor their files monthly, and receive advice on managing credit and debt levels for an annual subscription of $79.95. ConsumerInfo.com also sells individual credit reports, credit scores, and other services at prices ranging from $9.95 to $44.95. Since its founding in 1995, the company has provided credit reports to more than 2 million consumers. It was the first U.S. company to offer consumers online access to single-bureau credit reports, three-bureau credit reports, and lender-style credit scores.


Chase Pricing

Chase has become the latest issuer to join the $35 late fee bandwagon, and the issuer is also taking the opportunity to significantly boost APRs for existing cardholders. Beginning May 1st, Chase will raise “preferred” credit card interest rates to prime +11.99% with a 19.99% minimum APR. Credit card “non-preferred” interest rates are going to a fixed 22.99% APR. In the late fee area, Chase is following the tiered pricing structures of other major issuers who recently changed fee policies.

Effective May 1st, Chase will charge a $15 late fee for balances up to $150, a $29 fee for past-due balances between $150 and $1200, and a $35 late fee for outstanding balances over $1200. Chase is also notifying cardholders that it will charge a $12 fee to make an account payment over the phone. Chase becomes the third major issuer to boost fees this year, after MBNA and Discover instituted similar policies this month. Discover and MBNA are now charging a $15 late fee for balances under $100; a $25 fee for balances between $100 and $1,000; and a $35 fee for past due balances above $1,000. Last year, Citibank and US Bank boosted late fees from $29 to $35. In 2000, Fleet Credit Card Services began charging a $35 late fee on all its card products including the new “Fusion smart VISA.” Advanta was the first card issuer to institute $35 fees for holders of its business card products. On average, late payment fees, among issuers with portfolios over $100 million, have increased 145.9% since 1994, from $11.71 to $28.79, according to CardData (www.carddata.com). (CF Library 8/1/01; 8/30/01; 2/7/02; 2/11/02; 3/1/02)

(For February of Each Year Listed)
1995: $12.64 +7.9%
1996: $13.25 +4.8%
1997: $14.62 +10.3%
1998: $19.30 +32.0%
1999: $22.89 +18.6%
2000: $25.99 +13.5%
2001: $27.12 + 4.3%
2002: $28.79 + 6.2%
Source: CardData (www.carddata.com)


Advanced Target Marketing Software

Digital Insight Corp. announced its enhanced AXIS Advanced Target Marketing software version 2.1, bolstered with additional administrative tools, visual guides, and expanded options, allowing client financial institutions to implement online promotions faster and easier.

An expanded arsenal of campaign resources includes administrative tools, user-friendly guides, and image libraries for creating new promotions, as well as packaged, ready-to-use promotions and email campaigns.

“AXIS Advanced Target Marketing is key to cross-promoting our eFinance offering,” said Mike Armbruster, senior vice president and chief information officer for Rochester, NY-based ESL Federal Credit Union. “With ATM, we substantially increased our bill payment adoption rate as well as the number of online lending applications.”

New images and image locations for the presentation of the promotions expand the existing campaign resources. Innovative feature functionality makes AXIS Advanced Target Marketing very simple to use:

— The Create Promotion Wizard helps build basic promotional campaigns with information provided by the financial institution’s administrator. Through a series of pop-up dialog boxes, ATM assembles the campaign and presents the online advertisement to a targeted group of end-users at specified locations within AXIS Internet Banking and Bill Payment.

— Out-of-the-Box Promotions are “fully assembled” online campaigns that can be implemented with a few clicks. They enable the financial institution to leverage the power of the online marketing tool with little effort, helping the financial institution to quickly realize the value in targeted campaigns.

— With Email Campaigns, ATM offers direct query functionality enabling administrators to target specific customer groups with specialized promotional offers.

— New images for promoting Account Aggregation and Online Statements are now available. Additionally, promotional areas on financial institutions’ websites have been expanded to include space within AXIS Bill Payment and Online Statement pages.

“We are excited about the new promotional images, and look forward to using it to market Online Statements,” said Armbruster. “The ability to create specific promotions for a qualified group of our members makes cross-selling services even easier with these new features.”

“For financial institutions, one of the biggest benefits of its Internet branch is the opportunity for cross-selling. Marketing is an essential element to making this happen — that’s why Digital Insight is committed to providing our clients with the tools for taking the right cross-sell message to the right customer,” said Dale Walker, chief operating officer and president for the Company. “That’s just part of the business partnership Digital Insight builds with clients.”

For more information about AXIS Advanced Target Marketing, go to .

About Digital Insight

Digital Insight(TM) Corporation is the preferred eFinance enabler for visionary financial institutions. Through its comprehensive portfolio of outsourced, Internet-based financial products and services built upon the company’s unique architecture, Digital Insight moves banks and credit unions beyond Internet banking to become the trusted transaction hub for their retail and commercial customers. Digital Insight provides retail and commercial Internet banking, electronic bill payment and presentment, eCommerce portal technology, wireless channel delivery, advanced targeted marketing, website development and maintenance, as well as online and call center lending services. Each Digital Insight product and service reinforces the brands of its client financial institutions.


Enhancement Services Hires Holmquist

Enhancement Services Corporation, a leader in the loyalty marketing industry, has added a well-known advocate in the industry to head up their customer group. Lars Holmquist joined the company as Executive Vice President, Business Development and Consulting. Holmquist, previously with MasterCard, comes with more than 15 years of experience in the financial services and travel industries. As VP – Loyalty Consulting Services at MasterCard, he managed the U.S. business development and client management areas. Lars has also consulted with many card issuers in designing and managing profitable rewards programs. His vast experience has led Lars to be well-recognized in the loyalty marketing industry, often asked to speak at major banking conferences and cited in national publications.

Prior to MasterCard, Lars spent 2 years with Brierley & Partners, a targeted marketing loyalty agency, and nearly 9 years with American Express. Lars also gained international experience while at American Express. He was stationed in Sweden for nearly five years where he managed the corporate card business unit and several travel businesses for American Express. At ESC, Lars will be charged with profitable company growth, while heading up Sales, Marketing, and Client Relations. He will be working closely with other areas such as IT, Operations, and Customer Service to achieve ESC’s business and financial objectives.

ESC ([www.escloyalty.com][1]) specializes in customized, technology-driven loyalty programs that serve as strategic, business-building solutions for top financial institutions. In Atlanta since 1986, ESC has grown to over $100 million in revenues and 150 employees. Among ESC’s client roster are Chase Manhattan, Wells Fargo & Company, SunTrust, First Citizens Bank, Bank One, and others.

The company’s scope of services includes loyalty program design, data processing set-up and administration, database segmentation, automated and web-based points tracking and reporting, merchandise and travel redemption, customer service and marketing communications. ESC’s diverse experience ranges from acquisition, activation to retention programs.

Located in Roswell, Ga., the privately owned company is led by founder Steve Wilson, President and Chief Executive Officer.

[1]: http://www.escloyalty.com


Rate Stay

The Federal Open Market Committee decided Tuesday to keep its target for the federal funds rate unchanged at 1.75%. The Committee said that even though the economy is beginning to expand at a significant pace, there is still uncertainty over the degree of strength in consumer demand. However, the Feds are expected to raise interest rates this summer for the first time in 15 months. Credit card interest rates have been inching up since the first of this year. The 11 rate cuts last year drove average credit card APRs down to 14.21% from 16.57% at the beginning of 2001.


GPN 1Q/02

Global Payments reported that revenue for the third quarter of fiscal 2002 ending Feb 28, was $115.3 million, a 43% increase over the prior year. Net income of $10.3 million compares to $5.8 million in the prior year. For the nine months ended Feb 28, revenue was $341.9 million, a 38% increase from the prior year period’s normalized revenue of $247.6 million. Net income grew 56% to $34.8 million from $22.3 million in the prior year period. For complete details on GPN’s latest performance visit CardData ([www.carddata.com][1]).

[1]: http://www.carddata.com


HNC & Centerpost

Centerpost Corporation announced an alliance with HNC Software Inc., the leading provider of high-end analytics and decision management software. The combined technology will help credit and debit card issuers respond to potential fraud by automatically contacting customers over any communications channel, including voice, wireless, email, fax, and instant messaging. With this enhanced service, card issuers will improve their ability to prevent fraud while lowering the cost of communicating with customers through automation.

Centerpost’s multi-channel alerting technology will be integrated with HNC Software’s Falcon Fraud Manager, which currently monitors more than 400 million card accounts worldwide and 84% of all U.S. transactions. Once Falcon Fraud Manager detects suspicious activity on an account, the cardholder is notified in real-time on the device that is most convenient, such as a mobile phone or pager. After receiving the alert, the cardholder is able to verify the transaction through the device or be connected back to the card issuer’s customer service center to investigate the activity further. Card issuers will shorten the customer communications process with automated alerts, improving operations, lowering call center costs, and ultimately preventing fraud.

“HNC is the leader in the area of fraud detection software, so this partnership represents an opportunity for us to provide a valuable service to most of the major card issuers,” said James N. Patrick, Executive Vice President of Sales and Business Development for Centerpost. “Falcon Fraud Manager clients can now leverage their existing software investment to create a powerful communications solution that directly enhances the bottom line. Implementing our service is an extremely effective way for card issuers to remove significant costs from their operations and improve relationships with cardholders by putting them in control.”

“We’re constantly seeking to integrate value-added services and features that address our customers’ most critical business issues,” said John Mutch, CEO of HNC Software. “By identifying fraud more quickly, financial institutions can improve their operations, realize cost savings and service cardholders better.”

By integrating the Centerpost and HNC offerings, card issuers will now have access to the most advanced fraud prevention capability available today. No longer will a card issuer’s call center waste valuable time making repeated attempts to communicate important fraud information to cardholders. Using Centerpost’s technology, a card issuer creates an outbound communications solution that provides a clear, quantifiable ROI, while at the same time enabling its call center to focus on inbound customer service or revenue-generating activity.

About Centerpost

Centerpost Corporation is a provider of automated communications solutions for United Airlines, Travelocity, Motorola, and other leading companies. Centerpost’s services enable companies to deliver interactive alerts to customers and employees using voice, wireless, email, fax, and instant messaging. Centerpost is headquartered in Chicago and has offices in Atlanta, Dallas, and Los Angeles. For more information, visit www.centerpost.com or contact Centerpost at info@centerpost.com.

About HNC Software

HNC (NASDAQ: HNCS) is a leading provider of high-end analytic and decision management software and tools that enable global companies to manage customer interactions by converting data and business experiences into real-time recommendations. HNC’s proven software empowers Global 2000 companies in the financial services, insurance, telecommunications, health care, and other industries and governments to make millions of the right mission-critical customer decisions, and take action in real time, substantially improving financial performance, reducing costs and decreasing risk. For more information, visit [www.hnc.com][1].

[1]: http://www.hnc.com


InterCept Acquires IBC & EPX

InterCept, Inc., a leading provider of banking technology products and services for community financial institutions, announced a major expansion in its merchant processing operations. InterCept has entered into a definitive agreement to acquire the assets of Internet Billing Company, Ltd., a Ft. Lauderdale-based provider of transaction processing for Web merchants. Separately, InterCept also signed a binding letter agreement to acquire Electronic Payment Exchange, Inc., an end-to-end provider of transaction processing services based in New Castle, Delaware.

John W. Collins, InterCept’s CEO, stated, “Since 1996, we have provided merchant portfolio management services to community bank customers. However, our role has been limited to serving as the middleman for our bank customer and the payment processing companies. The acquisitions of iBill and EPX will enable InterCept to become a full-service provider of end-to-end credit card processing solutions for multiple sales channels — Internet, point of sale, call center, mail order, and wireless channels. iBill and EPX fit perfectly into our plan to grow our company through strategic acquisitions of businesses that add large volumes of customers, provide recurring revenue, and offer strong growth opportunities.”

Commenting on the acquisition, Garrett M. Bender, iBill’s President and CEO, stated, “iBill’s turnkey e-commerce solution is designed specifically for online merchants. Our goal is to reduce the costs and risks for merchants who do business online, whether they are small Internet merchants or online divisions of global merchants. Currently, we process approximately $450 million in annual transaction volume. By partnering with InterCept and EPX, we will now be able to offer merchants a multi-channel solution to complement their online business.”

Raymond Moyer, EPX’s President and CEO, stated, “EPX offers a single source for payment solutions, eliminating the need for businesses to establish multiple relationships with banks, front-end system providers, gateways, independent sales organizations and back-end processing companies. Presently, we process approximately $5 billion in annual transaction volume. We believe the combination of our payment processing solution, InterCept’s financial strength and iBill’s sales and marketing expertise will enable us to meet the demands of all types of merchants of any size.”

Commenting on the synergies provided by EPX and iBill, Mr. Collins said, “Our goal is to provide community financial institutions with the technology solutions necessary for them to remain competitive. Presently, our merchant processing division provides services to approximately 160 community banks with over $1 billion in transaction volume. The addition of iBill and EPX to our merchant processing division will enable us to provide our community financial institution customers with a transaction processing solution that they can offer to their customers at competitive rates, enabling them to further solidify their relationship with their local merchants.”

Mr. Collins added, “Together, InterCept, iBill, and EPX will offer a full-service, end-to-end transaction processing solution for both traditional ‘brick and mortar’ companies and online merchants. By adding the advanced payment solutions offered by iBill and EPX to our existing merchant processing division, we believe InterCept can become a market leader in transaction processing.”

InterCept believes the iBill and EPX transactions together will contribute additional revenues of approximately $49-$52 million and EBITDA of approximately $9-$10 million for the remainder of 2002, and $92-$94 million in revenues and $22-$24 million in EBITDA in 2003. Additionally, InterCept believes this transaction will add $0.01-$0.02 to its earnings per share for the remainder of 2002 and will add $0.08-$0.10 to 2003 earnings per share.

Robertson Stephens acted as exclusive financial advisor to InterCept in connection with the acquisition of iBill. Credit Suisse First Boston acted as financial advisor for InterCept’s acquisition of EPX.

Conference Call and Webcast Information

InterCept has scheduled a conference call to discuss these transactions at 10:00 AM EST on Wednesday, March 20, 2002. InterCept will also provide an online Web simulcast and rebroadcast of the call. Live broadcast of the call will be available online at .

To listen to the live call, please go to the web site at least fifteen minutes early to register, download and install any necessary audio software. An online replay of the call will be available shortly after it ends and will continue to be available through April 20, 2002.

About iBill

iBill provides secure transaction services that enable Web merchants to accept and process real-time payments for goods and services purchased over the Internet. It also manages all back-office functions including reporting, tracking, customer service and sales transactions. The company’s service is powered by proprietary technology that integrates online payment processing, fraud control, affiliate management and financial reporting and tracking. For more information about iBill, go to .

About EPX

EPX is a full-service electronic payment processing company that specializes in enabling businesses to accept credit card, debit card and electronic check payments. EPX’s system is completely Internet-based and provides straight-through processing that eliminates a business’s need to use a gateway or invest in front-end technology to process, whether their transactions take place online, over the telephone or at the point of sale. For more information visit .

About InterCept

InterCept is a single-source provider of a broad range of technologies, products and services that work together to meet the technology and operating needs of community financial institutions. InterCept’s products and services include core data processing, check processing and imaging, electronic funds transfer, data communications management, and related products and services. For more information about InterCept, go to http://www.intercept.net or call 770.248.9600.