BUYPASS Record

BUYPASS Corp. processed 272.6 million transactions for the first quarter, a 28% increase over the previous year, according to figures released Friday by EPS. BUYPASS indicated that POS debit volume grew 75% and EBT volume was up 123% for the quarter. The company also announced its terminals are now capable of accepting 37.5 million JCB cards. BUYPASS EBT added the states of Hawaii and Alaska to 25 other states for EBT processing.

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AmEx Lynks Up

Atlanta-based Lynk Systems, Inc. announced Friday an agreement with American Express to provide debit card processing services to its network of merchants.  Under terms of the agreement Lynk will provide split-dial debit services to merchants using American Express POS terminals for credit card processing.  Both companies recently completed a pilot program in several key markets. AmEx sales agents will begin offering the debit processing service to merchants this month. Lynk provides payment processing services to over 40,000 merchants, cash advance services in over 5,000 U.S. locations,  employs 250 full time management and technical personnel, has 26 direct sales offices and employs more than 500 sales agents.

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STAR POS Up 39%

San Diego’s Star System Inc. reported Friday that POS volume totaled 120 million transactions in the first quarter of this year, a 39% increase over the same period in 1997. POS transactions in March alone reached 42.6 million transactions, a 35% increase over March 1997. Meanwhile first quarter ATM transactions were up a mere 3% for a total of  80 million. Total transactions (ATM and POS) for Star System in the first quarter of this year were 199.2 million, a 22% jump from the first quarter of 1997. The Star network now has 37,000 ATMs and 72,000 POS merchants.

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Banc One Integrated Web Banking

Banc One Corporation , Integrion Financial Network and CheckFree announced Friday their agreement to launch a pioneering program which will enable financial institutions to provide fully integrated, Web-based electronic banking, bill presentment and payment services to consumers.

The integrated program, which will be implemented by Banc One later this year, combines the security, scalability and strength of Integrion’s Interactive Financial Services (IFS) platform with the accuracy and sophistication of CheckFree’s electronic bill presentment and payment system.

“Banc One is committed to deepening the relationships we have with our customers by continually providing them innovative and superior services,” said Bruce Luecke, President of Interactive Delivery Services for Banc One.

“As an Integrion owner, we are excited to be providing what is the next generation of integrated electronic banking services with Integrion and CheckFree.  We will deliver an unparalleled level of choice and flexibility in online banking and bill payment to our customers in a streamlined online environment.”

Benefits for Consumers and Financial Institutions

The new integrated service will enable Banc One customers to receive, view and scrutinize a wide range of bills electronically.  Rather than receiving paper bills in their mailbox, consumers will be able to receive them conveniently online.  Customers can then pay these bills through their computer, transferring funds directly from their bank accounts to pay any biller that presents an online bill through CheckFree.  Using any standard 128 bit browser, a Banc One customer will enjoy a single log-on Web site for all electronic financial services with integrated enrollment and activation. Once activated, the Banc One customer can pay the bill from the online summary page or choose to see the full bill detail.  Through this integrated system, consumers will simplify the monthly chore of paying bills.

“The only way Internet-based banking will gain widespread acceptance is with the continual development of integrated Internet-based financial services that give consumers easy access to multiple transactions,” said William M. Fenimore, Jr., CEO and Managing Director of Integrion. “Today’s announcement signals the beginning of a marketplace for truly integrated online financial services.”

“Integrion and CheckFree forged a strategic partnership last year with the clear goal of delivering combined electronic banking, bill payment and presentment services to financial institutions,” Fenimore continued.  “We are pleased to launch this service with Banc One, an institution that continues to prove itself to be a leading provider of online financial services.”

In keeping with the Integrion and CheckFree philosophy of ensuring all electronic solutions are bank branded, Banc One will customize the look and feel of its bill presentment service to provide customers with a truly unique experience.

Proven and Operational Architecture

The system will connect Integrion’s IFS platform and CheckFree’s Bill Presentment and Remittance system with Banc One’s internal bill payment engine.  All systems are currently operational in the market.  Since 1997, Banc One has been utilizing Integrion’s IFS platform which was developed and is operated by IBM.  CheckFree, the preeminent provider of Internet-based bill presentment, payment and processing services to the banking industry, has relationships with 23 of the nation’s largest billers and has been providing services to Banc One since 1991.  As a result of the Integrion/CheckFree alliance, Integrion’s IFS platform is the preferred routing mechanism for all CheckFree transactions, and CheckFree is the bill presentment and payment supplier to Integrion customers.

“Banc One’s launch of the Integrion/CheckFree solution clearly marks a new era of sophisticated online financial services being offered to consumers through the industry’s trusted agent — their bank,” said Peter J. Kight, Chairman and CEO of CheckFree.  “Institutions like Banc One — which offer consumers all critical financial transactions in a seamless Web environment and provide an important distribution channel for billers — are clearly the driving force behind the rapid expansion of online financial management.”

“As a member of Integrion, IBM is excited to be a part of this breakthrough implementation in online financial services,” said Paul Loftus, IBM, General Manager, Solutions, Global Banking, Finance & Securities Industries.  “Banc One continues to set an aggressive pace for Integrion implementations.  This rollout will bring an integrated offering of home banking, bill payment and bill presentment to Banc One customers delivered through Integrion’s IFS platform — an environment with open, efficient, secure and now enhanced customer function.  IBM’s active involvement with Integrion epitomizes our ongoing commitment to the e-business strategy and the delivery of end-to-end solutions in the banking, finance and securities marketplace.”

About Banc One

Banc One Corporation had total managed assets of $147.0 billion, total assets of $115.9 billion, and common equity of $10.2 billion at December 31, 1997.  Banc One operates more than 1300 banking centers and cash dispensing and automated teller machines in 49 states.  Banc One also owns several additional corporations that engage in a full range of financial services.  Information about Banc One’s financial results and its products and services can be accessed on the Internet at , through InvestQuest at or by fax-on-demand at 614-844-3860.

About CheckFree

Founded in 1981, CheckFree () is the leading provider of electronic commerce services, software and related products for more than 2.4 million consumers, 1,000 businesses and 850 financial institutions.  CheckFree designs, develops and markets services that enable its customers to make electronic payments and collections, automate paper-based recurring financial transactions and conduct secure transactions on the Internet.

About Integrion

Integrion Financial Network is a leading provider of interactive banking and electronic commerce services to financial institutions.  Through the Interactive Financial Services (IFS) platform, Integrion offers financial institutions a network through which electronic transactions flow from multiple consumer access points to a bank’s host system and/or processor. Technology partnerships with IBM and CheckFree Corporation allow for the delivery of flexible, high utility applications that can be employed at a financial institution for the benefit of end customers.

Integrion’s operating philosophy allows banks to determine the manner and format in which home banking and electronic commerce services are offered, ensuring consistency with the bank’s full range of services, effective branding by the bank and maximum customer benefit.  For more information, visit the Integrion web site at

About IBM

IBM is the number one technology partner to the world’s financial services industry.  Working directly  with its financial services customers, IBM develops and deploys mission-critical, industry-specific solutions, which comprise the full range of IBM capabilities including consulting, software, hardware, research and services.

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MasterCard Excited

MasterCard used the final Seinfeld episode last night to run its first-ever Internet-related broadcast ad. The commercial, a continuation of the new MasterCard “Priceless” campaign, promotes it brand new alliance with Excite’s Shopping Channel. MasterCard International and Excite announced Thursday a strategic marketing alliance aimed at building consumer awareness of the benefits of shopping online. The objective of the partnership is threefold educating consumers that shopping on the Web can be fast, easy and safe;  building consumer awareness of the Excite Shopping Channel; and promoting the MasterCard brand as the preferred way to purchase products and services on the Web. The multi-year alliance names MasterCard as the exclusive payment system sponsor of Excite’s Shopping Channel.  Under terms of Thursday’s deal, both firms will also work to promote SET by establishing a link to a list of SET-enabled merchants by the end of this year.

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Concord EFS Stock Split

Concord EFS Inc. reported that the board of directors approved a three-for-two stock split. The record date for the split is June 1, 1998, with the additional shares to be distributed on June 8, 1998.

The company recently announced the following first quarter 1998 financial results revenue of $69,632,000 compared to $47,045,000, up 48 percent; net income of $11,367,000 compared to $7,933,000, up 43 percent; and earnings per share of $0.18 compared to $0.13, up 38 percent. Management believes the announced agreement to acquire Digital Merchant Systems & Affiliates Inc. and the related restatement of first quarter 1998 earnings will be completed in the current quarter.

Dan M. Palmer, chairman and CEO, stated that the three-for-two stock split represents management’s belief that the company will continue its growth through its internal sales channels and acquisition strategy during the year. Concord EFS provides electronic transaction authorization, processing, settlement and funds transfer services in selected markets. Concord EFS’ primary activity is Card Services, including credit, debit and electronic benefit transfer (EBT) card transactions to supermarket chains, grocery stores, convenience store merchants and other retailers. Concord EFS also provides electronic payment, banking products and payroll services to trucking companies, truck stops and other niche segments of the market.

This release may contain statements which may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Prospective investors are cautioned that any such statements are not guarantees for future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include significant fluctuations in interest rates, inflation, economic recession, significant changes in the federal and state legal and regulatory environment, and competition in the company’s markets. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future results over time.

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Encore Services

Encore Marketing International, Inc., a specialist in fee-based enhancement programs to the credit card industry formed a new wholly owned subsidiary, Encore Services, Inc yesterday.  ESI has been formed to create and market new retail products unique to DDA, debit and smart card markets as well as adopt existing EMI products for the wholesale credit card market. Beginning next month, Encore Services will be marketing “Debit Protection Select” a comprehensive protection program for debit card issuers and their customers.  Features of Debit Protection Select include Purchase Protection with Automatic Extended Warranty Up to 1 Full Year; Debit/Credit Card Registration with Fraud Protection; Emergency Cash; $10,000 24 Hour Accidental Death & Dismemberment Insurance; $5,000 Emergency Accident Medical/Dental Expense Coverage; and $500 Theft Reimbursement.   Encore Marketing has marketed and operated its own fee-based enhancement programs for over 20 years including the Encore Preferred Traveller Club, Home & Garden Savings Club, Pet Care Savings Club, Protect-Your-Cards card registration program, CreditVue credit monitoring program, LawPhone prepaid legal plan, and their newest addition MedAdvantage discount health card program. The company services more than 3,500,000 cardholders.

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ARKSYS & TriSense

ARKSYS and TriSense Software Ltd. today announced a strategic alliance to provide TriSense Software’s electronic bill presentment and payment solution, PaySense, to U.S. mid-range financial institutions in conjunction with ARKSYS’ commercial cash management and personal banking solutions.

ARKSYS and TriSense have complementary product offerings that serve both commercial and retail banking businesses. Under the terms of the alliance, ARKSYS will market the PaySense system to its existing and potential mid-sized financial institution customers together with its own commercial and retail offerings.

TriSense, a financial systems software company, specifically designed the PaySense solution to enable banks to deliver electronic bill presentment and payment services directly to their commercial and retail customers. With PaySense, banks can control all aspects of the service, including the biller relationship, management of the biller’s data and service fee pricing. PaySense allows banks to increase ACH and other fee income while offering unparalleled savings and control to billers and convenience and value to individual bill payers.

“We believe this alliance complements ARKSYS’ commercial banking solution, Commercial-ACCESS, and our home banking solution, Personal-ACCESS, providing financial institutions with a comprehensive Internet banking solution,” said Mary H. Rose, vice president of Business Development with ARKSYS. “Bill presentment is perhaps one of the key strategic factors impacting banks’ future role in both cash management and payment processing.”

ARKSYS’ Commercial-ACCESS and Personal-ACCESS are designed for the Internet but ready for use as a secure proprietary on-line system. Acting either as an Internet or intranet system, the products provide banking customers with on-line, real-time 24-hour access to accounts and information. The products interface with ARKSYS’ Integrated Transaction Management to provide current on-line, real-time information.

The PaySense system delivers bills and payments via an enhanced e-mail facility that features ironclad security, rapid connection with existing billing systems, guaranteed delivery and reliability, and rich graphical billing capability. “PaySense is the only true bank-centric electronic bill presentment and payment system,” said David R. Lamm, president and chief executive officer of TriSense Software Ltd. “We’re delighted that this alliance will bring bill presentment to the mid-range banking market along with ARKSYS’ broad Internet banking solutions.”

The alliance enhances the commercial and home banking services that financial institutions can offer and provides a complete financial management solution for Internet banking customers. Institutions can gain the ability to strengthen relationships with customers through Internet banking products.

About the Companies

TriSense Software Ltd. is a Minneapolis-based financial systems software company founded in 1996 by David R. Lamm after the sale of his former venture, Document Solutions Inc., a company that developed check “image statements” for community banks. Building on this expertise, TriSense developed the PaySense electronic bill presentment and delivery system for banks and financial service companies. Its staff includes personnel with more than 125 years of bank-related experience. Visit TriSense Software’s Web site at [www.trisense.com][1].

ARKSYS offers Integrated Transaction Management (ITM), a family of payment and transaction processing solutions. ITM provides functionality that allows U.S. mid-range and off-shore locations of large International financial and nonfinancial institutions to facilitate customers’ on-line, real-time transactions twenty-four hours a day, seven days a week, from a variety of devices. ARKSYS’ ITM processes and manages retail delivery operations including card and client management systems, international credit card, debit card, ATM and POS management; merchant management; electronic funds network solutions, on-line and intercept processing; access solutions, interactive voice response, Internet/intranet/extranet personal banking and bill payment; Internet security; and wholesale delivery with Internet/intranet/extranet commercial cash management. The company’s offerings are established in more than 70 countries. Visit ARKSYS on the World Wide Web at [www.arksys.com][2].     ARKSYS, Integrated Transaction Management and ITM are trademarks of Arkansas Systems Inc. TriSense and PaySense are trademarks of TriSense Software Ltd.

[1]: http://www.trisense.com
[2]: http://www.arksys.com

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MBE Alliance Pays-Off

USA Technologies Inc., a specialist in credit card-activated control systems for office equipment, reported revenues for the first quarter of $548,208, compared with revenues of $144,536 for the same period last year.  The company has recently signed corporate partners, including Mail Boxes Etc., IBM, Marriott Hotels, Resorts & Suites, Promus, Best Western, Choice Hotels and Prime Hospitality. USTT’s flagship product is MBE Business Express which offers credit card-activated self-service office systems for business travelers and consumers who need to access the internet or e-mail or use personal computers, printers, copiers and fax machines while they are away from their office or home.  Each unit features IBM personal computers as well as IBM’s service and support network, as well as a dial through telephone to a nearby Mail Boxes Etc. location for additional services and support such as color copying projects, binding and packing and shipping.

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ALLTEL I-Banking

ALLTEL announced Thursday its new Internet banking solution which leverages ALLTEL’s existing service delivery infrastructure, thus allowing institutions the ability to integrate the Internet, call center and the branch.  The system provides real-time data sharing between the integrated delivery channels. ALLTEL’s Internet banking solution uses the Microsoft Internet Finance Server Toolkit.  MIFST provides essential components like a sample Web site, Web server components and a server built on the Open Financial Exchange specification. ALLTEL’s Internet banking solution is planned for release in the fourth quarter.

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Advanta Unloading Notes

Advanta National Bank a subsidiary of Advanta Corp. announced Thursday that it is extending the offer to purchase (the “Offer to Purchase”) its outstanding promissory notes that were not assumed by Fleet Credit Card LLC in connection with the acquisition of Advanta Corp.’s consumer credit card business by Fleet and certain of its affiliates.

The Bank Notes were issued at various times since July 1993 and at various maturities and rates. As of April 14, 1998, the date of the Offer to Purchase, approximately $113 million of these Bank Notes were outstanding. To date, ANB has received documents relating to the deposit for repurchase of approximately $91 million in principal amount of the Bank Notes.

The Offer to Purchase is being extended to 500 p.m. New York City time on May 21, 1998. The Offer to Purchase had previously been scheduled to expire at 500 p.m. on May 13, 1998.

Advanta is a highly focused financial services company with 2,300 employees, approximately $10 billion in managed assets and an additional $8.8 billion in assets serviced for third parties.

Advanta serves consumers and small businesses with innovative products and services including mortgages, equipment leases, business credit cards, insurance and deposit products. The Company also provides a full range of loan purchasing, contract servicing and securitization services to the mortgage industry.

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