ACE Cash Express Update

Ace Cash Express, Inc., held its Annual Meeting of Shareholders on Friday, November 14, 1997. At the meeting, the shareholders re-elected the Company’s Directors as nominated, approved an amendment to the Company’s Restated Articles of Incorporation to increase the number of authorized shares of Common Stock from 10 million to 20 million, and approved the Company’s 1997 Stock Option Plan for employees.

During the meeting, Donald H. Neustadt, President and Chief Executive Officer, reviewed the Company’s results for its fiscal year ended June 30, 1997 and discussed the Company’s plans for fiscal 1998. The plan includes additional new store openings (De Novo), Acquisitions, and Franchising. Also included is the expansion of the small loan business, the ACE Plus program and the Company’s bill payment services. Jay B. Shipowitz, Senior Vice President and Chief Financial Officer, presented ACE’s vision and potential products related to introducing its customers to card based banking related services.

Following the meeting, the Company’s Board of Directors declared a three-for-two stock split. The split will be effected as a stock dividend by distributing one additional share of common stock for each two shares of common stock outstanding. The record date for determining holders entitled to receive the stock dividend will be November 30, 1997, with a delivery date on or about December 15, 1997. The Company will pay cash for any fractional shares based on the closing price as of the record date as quoted on The Nasdaq Stock Market.

“We are taking this action because of management’s long-term confidence in ACE’s financial performance and to demonstrate the Board’s continued commitment to enhancing shareholder value,” stated Donald H. Neustadt, President and Chief Executive Officer.

ACE Cash Express, Inc., headquartered in Irving, Texas, is a significant provider of retail financial services. It is the largest owner and operator, and one of the largest franchisors, of check cashing stores in the United States. Founded in 1968, the Company today has a total network of more than 700 stores, including over 615 Company-owned stores and 79 franchised stores in 26 states and Washington, DC. ACE offers a broad range of financial services, which includes check cashing as well as MoneyGram wire transfer services, money orders, small consumer loans, bill payment services and telecommunications services, including prepaid long distance cards and local phone service.

Safe Harbor Disclaimer

This release may contain certain forward-looking statements regarding the Company’s expected performance for future periods and actual results for such periods may materially differ. Such forward-looking statements involve risks and uncertainties, including risks of changing market conditions in the overall economy and the industry, consumer demand, the opening of new stores, the success of the Company’s acquisition strategy and other factors detailed from time to time in the Company’s annual and other reports filed with the Securities and Exchange Commission.


Bell Atlantic’s Prepaid Wireless Prog

Beginning Monday, November 17, Bell Atlantic Mobile will offer a new wireless service that lets consumers pay in advance for their wireless phone calls. Called MobileMinutes(SM), this service will appeal to many first-time wireless users, families who want a second wireless phone and people who prefer a pre-paid option like the increasingly popular highway toll passes, commuter tickets and bank debit cards.

MobileMinutes is convenient and predictable because it offers consumers control over what they spend on wireless service throughout Bell Atlantic Mobile’s high quality East Coast footprint. There’s no contract to sign, no monthly access fee and no bills — features that make the service a logical choice for people with hectic lifestyles. MobileMinutes also is a great gift idea because the wireless phone and service can be purchased all-in-one and are ready to use instantly.

“MobileMinutes is a welcome option for people with a fast-paced schedule who want a streamlined service and for those looking for the latest holiday gift idea,” said Julie Dobson, president of Bell Atlantic Mobile’s NY/NJ metro region. “MobileMinutes is a true pre-paid service because you never pay more than you choose to, unlike other offerings in the market which are really price plans in disguise.”

A customer pays $149.99 for a package that includes a wireless phone and a MobileMinutes phone card, good for close to an hour of local wireless calling. Local calls are debited at $.85 per minute and wireless long distance calls at an additional $.25 per minute.

A “whisper tone” announcement alerts customers to the balance remaining on their MobileMinutes card each time they make a call and a reminder tone alerts them as their account balance hits the four-minute mark, with one long reminder tone every minute thereafter.

Once you purchase the phone, additional MobileMinutes cards are available in $50 increments.

Customers can buy MobileMinutes at more than 40 Bell Atlantic Mobile Communications Stores and kiosks, and at hundreds of company retailers and agents. Additional cards may be purchased at any of those locations, too.

Bell Atlantic Mobile is the largest wireless service provider on the East Coast and the second largest in the United States. The company owns and operates the most extensive network in the East, covering 111,000 square miles, and the largest chain of retail outlets offering a full range of wireless personal communications services, including voice, data, and paging. Based in Bedminster, NJ, Bell Atlantic Mobile has more than 5 million customers and 7,000 employees in the Northeast, mid-Atlantic, Southeast, and, through a separate subsidiary, in the Southwest. The company is the chief wireless subsidiary of the new Bell Atlantic, formed through the merger of Bell Atlantic (NYSE: BEL) and NYNEX (NYSE: NYN) corporations. SOURCE Bell Atlantic Mobile


Chevy Chase & FDR Extend

First Data Resources, a unit of First Data Corporation (NYSE: FDC), and Chevy Chase Bank today announced that they have signed a 5-year agreement for First Data to continue to provide bankcard processing services to Chevy Chase, one of the top 20 bankcard issuers in the nation.

Under the agreement, First Data will provide data processing and other card management services for Chevy Chase’s credit and debit portfolios. Financial terms of the agreement were not disclosed.

“Our partnership with First Data allows us to leverage our existing core competencies with First Data’s advanced processing and servicing capabilities,” said Dennis Moroney, senior vice president at Chevy Chase Bank. “By drawing upon the wide array of processing and portfolio management services offered by First Data, we are able to focus on building and servicing our portfolio.”

First Data has provided credit and debit card processing services to Chevy Chase since 1993.

“We are pleased to be able to continue our partnership with Chevy Chase and provide the technology and scale of resources needed to enhance its portfolio growth and increase market share,” said Richard A. Zehnacker, president of First Data Resources. “This renewed partnership is an example of the confidence our clients have in how we can help them grow their businesses.”

Omaha, Neb.-based First Data Resources is a leading global provider of transaction cards and other card-based services to more than 1,400 financial institutions around the world.

Hackensack, N.J.-based First Data Corporation is a global leader in payment systems, electronic commerce and information management products and services. First Data and its principal operating units process the information that allows millions of consumers to pay for goods and services by credit, debit or smart card at the point of sale or over the Internet, by check or wire money. For further information about First Data, please visit the Company on the Internet at .


Universal Gifts Online

Shopping 24 Hours a day no matter where you live, a merchandise establishment online at is not a mall with all kinds of distracting outside advertising running through it, and offers a great alternative to traditional shopping.

Avoid the stressful ordeal of traffic, crowds and parking. You will find this cyber store easy to navigate and a customer service area that will answer any question while being flexible to accommodate every situation. This site offers over 200 products, making great gifts. The guarantees are the best available today in any store, with a detailed listing of them all. The secure transaction order page should make everyone comfortable sending their credit card or personal check information over the internet. A variety of delivery methods is certain to have any order at its destination on time.

Other features include Free software for download, free games online, free monthly contests to win valuable electronic equipment — President Roy Wilkins mentioned, “We are excited to be offering a contest offering a Pentium Computer this December!”

Visitors can request an E-Mail catalog or a hard copy catalog listing nearly 4,000 products just in time for gift giving. Wilkins added, “With the Christmas season just around the corner creating a pick up in traffic and sales we will be forced to offer additional business opportunities in a variety of areas, including, Sub-Wholesaling, Network Marketing and consulting.”

Cyber Greeting Cards are sure to revolutionize the greeting card industry. E-Mail greeting cards are soon to arrive at this site and will offer customized or standard selections of colorful, animated and musical cards at a fraction of traditional greeting cards prices. The savings generated from time spent going to a store, postage, and the higher costs of cards will be significant. Destined to become the way business establishments correspond with their clients and employees. Here you will also find a free reminder service to let you know when special dates are 5-7 days away, so all you need to do is list your special occasion dates and sit back. When you receive your reminder have a Greeting card sent by E-Mail, [][1].



USPI Signs Access Cash Systems

U.S. Processing, Inc. (USPI) announced today that it has signed an agreement with Access Cash Systems, one of the largest independant ATM deployers in the U.S., to process ATM transactions for its retail customers. USPI provides transaction processing services for the electric funds transfer (EFT) industry.

The Minneapolis-based Access Cash deploys over 3,500 ATMs and plans to have 10,000 deployed by the year 2000. The company operates nationwide with its own network of distributors. It was among the first deployers to embrace the dial-up ATM technology and expects continued market growth for this less expensive form of ATM communication.

“Access Cash seeks out relationships with innovative processors like USPI who can help us achieve our goal of providing the most reliable and cost-effective ATM solutions for our customers,” said Frank Capan, Jr., President of Access Cash. “This relationship helps position us for both short-term and long-term growth.”

USPI drives and supports all popular ATM models and brands, including several in a dial-up mode. USPI offers a comprehensive package, from single-point settlement and monitoring of ATM enviornments to authorization, network access and card management services–available 24 hours a day, 7 days a week. The company also delivers a full range of implementation and support services, including project and account management.

“The Access Cash relationship is an exciting opportunity for USPI and adds significanly to the commitments for ATM driving we currently have,” said Jeffrey Brandt, USPI’s director of product management for independent sales organizations. “USPI and Access Cash share a commitment to deliver quality service and have similar growth expectations which make the relationship very beneficial to both companies.”

USPI is an alliance partner with Transaction Systems Architects, Inc., parent company of Applied Communications, Inc. and U.S. Software, Inc. The companies exchange technical, strategic and market development information. USPI uses ACI’s BASE24 and USSI’s TRANS24 software solutions in combination with the latest Tandem and IBM hardware offerings for its processing operations.


Fast Comm Loan Decisioning

CFI ProServices, Inc. and Fair, Isaac today announced that they will jointly offer small business and commercial lenders a credit analysis tool that will significantly increase their underwriting speed, efficiency, and profitability. The agreement will also help lenders sell small business loans to the secondary market.

Under the new agreement, CFI and Fair, Isaac will integrate Fair, Isaac’s SBSS ScoreWare small business credit scoring system with CFI’s Laser Pro Application system and its Laser Pro fisCAL Online commercial credit analysis software. Combining the underwriting and financial analysis capabilities of Laser Pro fisCAL Online with the statistically derived credit scoring function of SBSS ScoreWare will reduce the underwriting burden on loan officers and underwriters by helping them to make more informed credit decisions. The new system is expected to be available to financial institutions by early 1998.

“By integrating Fair, Isaac’s SBSS ScoreWare with our Laser Pro software, we are able to provide a one-button system for credit analysis,” said Matt Chapman, chairman and chief executive officer of CFI ProServices, Inc. “Using Laser Pro software, lenders can make a loan decision in under an hour, and we expect to cut that decisioning time in half by adding ScoreWare to our system.”

Using the new system, lenders can collect a small business or commercial loan applicant’s credit information in Laser Pro Application or Laser Pro fisCAL Online which use the SBSS ScoreWare engine to calculate a statistically derived score. Laser Pro fisCAL Online can then be used to perform additional financial analysis to finalize the loan underwriting decision.

The enhanced Laser Pro fisCAL Online system will allow financial institutions to take greater advantage of the small business loan securitization services offered through Lori Mae, a new company created earlier this year and partly owned by CFI ProServices. Financial institutions will use CFI’s Laser Pro Application, Laser Pro fisCAL Online, and Laser Pro Closing to originate standardized loans and documentation which meet the standards of Lori Mae, allowing the loans to be rated and sold in the secondary market.

“Utilization of the Fair, Isaac SBSS ScoreWare statistically derived credit scoring system will allow the standardization of risk assessment that is essential to the secondary market,” said Latimer Asch, Fair, Isaac vice president, commercial products.

“By combining this new technology and small business loan securitization, commercial bankers will be able to increase profitability, enhance liquidity and improve capital management,” said Chapman.

Laser Pro fisCAL Online is a Windows-based loan assessment and risk management system that allows lenders to gather credit information through a modem link to over nine databases of real-time information, such as those provided by Experian (formerly TRW), TransUnion, ERIIS, and others. Laser Pro Application collects loan application data for commercial, consumer and residential real estate lending, improving a lender’s ability to match loan products to customer needs, speeding loan turnaround, and facilitating faster loan approval.

Since 1956, Fair, Isaac has helped businesses maximize the value of data for strategic decision making. The company pioneered the use of credit scoring in consumer and commercial lending. Today, Fair, Isaac provides data-driven decision making solutions such as customer and operational data management and modeling, data warehousing and information analysis, strategy design, and software to businesses in financial services, direct marketing, personal lines insurance, retail, health care and telecommunications. Based in San Rafael, Calif., Fair, Isaac employs more than 1,200 people in 16 offices worldwide.

CFI ProServices, Inc. of Portland, Oregon is a leading provider of PC-based banking software to over 5,100 financial institutions in the United States. CFI’s software and services help financial institutions build equity in their customers by improving delivery of customer sales and service while reducing costs. CFI has major offices in Atlanta, Georgia; Charleston, South Carolina; Dayton, Ohio; Denver, Colorado; Englewood Cliffs, New Jersey; Houston, Texas; and Huntington, New York. Its World Wide Web address is .

The discussion in this press release contains forward-looking information with respect to business agreements and market expectations that involve risk and uncertainty, because the company’s contracts are subject to cancellation, rescheduling and performance. Please refer to the company’s Securities and Exchange Commission reports filed under the Securities Exchange Act of 1934 for additional risk information.


Check Fraud

Check fraud rose 11% last year costing retailers about $6 billion according to a new point-of-sale check fraud index compiled last week by First Data’s TeleCheck Services unit. TeleCheck has also calculated overall check losses to be more than $12 billion based on its 167,000 subscriber locations. Not surprisingly the highest incidence of check fraud occurs in the gaming industry. Grocery stores cashing payroll checks are also hard hit. Although check cashing accounts for only 5%-10% of a grocer’s check activity, it usually accounts for half of the supermarket’s losses. TeleCheck blames PCs, laser printers and high-end copiers for contributing to the problem. However low-tech methods such as chemically washing checks, altering the MICR line or opening a checking account via the mail, phone or online still remain significant problems.

Where Consumers Write Bad Checks (100=average)
Casinos 322 Department Stores 187
Liquor Stores 235 Electronics Stores 165
Jewelry Stores 230 Optical Services 157
Apparel Stores 200 Gift Specialty 143

Source: TeleCheck’s 1997 Check Fraud Index


Colored Mag Stripes

Just when you thought there were no new inventions left in the world, along comes this one: colored magnetic stripes on the backs of your plastic credit cards, instead of the black stripes which have appeared for the past 25 years.

“Banks, stores and other providers of credit cards put a lot of thought into their credit card colors and designs; they are amazingly choosy,” notes Kirk Hyde, president of Oberthur Smart Cards U.S.A., Inc., the company with exclusive rights to manufacture cards with the colored stripes throughout North, Central and South America. “After all, a credit card is really a marketing and identity tool.” Hyde says that with the visual, colorful and trendy 1990s, credit cards have become highly stylized, and therefore customers want magnetic stripes which are “more harmonious” with the colors and designs of their cards.

Ever since Oberthur told its customers that the mag stripes now come in any color of the rainbow, the demand has been growing rapidly. Hyde says the first application for colored stripes in the U.S. was for Neiman Marcus’s “In Circle” cards. The all-silver cards are for those customers who purchase over $3,000 in Neiman Marcus merchandise each year using the store’s own proprietary credit card. “Neiman Marcus wanted an extremely elegant looking card for this level of customer, so we applied the mag stripe in silver to match the rest of the card,” Hyde said.

The magnetic stripe on each credit or debit card holds the account specific data for the card holder. The new technology allowing the formerly black stripes now to be red — or gold, or green, or silver — was developed by Dainippon Ink and Chemicals of Tokyo. Hyde’s company negotiated and exclusive five-year agreement with Dainippon, so they will be the only card manufacturer in the Western Hemisphere. The cards were unveiled to the trade industry at the annual American Bankers Association convention this week.

Oberthur Smart Cards U.S.A., Inc., is the nation’s second largest manufacturer of credit, debit and other high valude transaction cards. From their facility in Los Angeles, they produce approximately 120,000,000 high value transaction cards each year, and have recently entered the “smart card” business which utilizes microprocessing chips for information storage and retrieval.


IPAT Kiosks Expanding

ObjectSoft Corporation has retained the services of two major organizations to raise additional capital and to market nationwide the firm’s interactive public access terminals, housed in modular kiosks, Chairman David E.Y. Sarna announced today.

Infusion Capital Partners, LLP has been retained by ObjectSoft to raise $5 million in debt financing. This financing is to provide the company the necessary funds to expand the distribution of kiosks in New York City and other cities throughout the U.S.

The prominent real estate firm of Julian J. Studley, Inc. will seek locations for at least 50 more IPAT kiosks in New York City over the next six months. Managing Director Marc Miller will spearhead this effort. Additionally, ObjectSoft plans entry of the IPAT kiosks into the top ten media markets including San Francisco, Seattle, Los Angeles, Chicago, Philadelphia and Memphis within the next twelve months.

“We are starting to receive an enormous amount of attention and inquiries,” explained Sarna. “We are assembling this team to respond to this attention and move strategically with further development and deployment.”

“People are interested in our products and service,” said President George J. Febish. “These two resources will assist in our development and help us to reach our goals efficiently and with the best possible product on the market today. People who use our IPAT kiosks should find the information useful and enjoy the experience.”

ObjectSoft currently maintains SmartStreet IPAT kiosks as a part of the CityAccess program in New York City. SmartStreet IPATs bring information and regulations, forms and services to New Yorkers directly from City mainframe computers using multi-media technologies. Using an ATM-type screen, visitors and residents also can access hundreds of pages of information on attractions, dining, theater, hotel accommodations and customized transit maps.

SmartStreet also allows the user to design and print custom maps. ObjectSoft currently has SmartStreet IPAT kiosks in the Department of Health building at 125 Worth Street, Manhattan; The St. George’s Terminal of the Staten Island Ferry, The Bronx and Brooklyn Municipal Buildings, Queens Borough Hall and the New York Hall of Science in Queens.

About ObjectSoft

Founded in 1990, ObjectSoft is a leader in providing information and Internet-based services and has pioneered secure credit card processing of electronic commerce. ObjectSoft is a publicly held company listed on Nasdaq. For more information on ObjectSoft, visit their website at .

This press release contains certain forward-looking statements concerning ObjectSoft which are subject to a number of known and unknown risks that could cause actual results, performance and achievements to differ materially from those described or implied in the forward-looking statements. Among such risks are those discussed in the Company’s Registration Statement on Form SB-2 and its Quarterly Report on Form 10-QSB and include, but are not limited to, limited operating history, recent establishment of new business divisions, dependence on new and untested product, risks related to technological factors and potential manufacturing difficulties.


Kiddie Bank Accounts

Would a typical American parent move their banking and brokerage accounts to a financial institution that offered special terms for child-oriented services? This question is being posed in the first “My Kid Counts!” survey on the Kids Own America Web site at>.

Kids Own America President Clifford L. Brody said: “This survey is important because the reality today, quite simply, is that kids don’t count for much in the eyes of many banks and brokerage firms. In almost all cases, they get lousy deals in terms of low-interest ‘kids accounts’ and no break whatsoever from brokerage firms. The results from our focus groups indicate that the vast majority American parents are sick and tired of financial institutions taking the loyalty of their families for granted. Fortunately, a few bank executives already recognize this huge untapped market as the genuine opportunity it represents.”

In addition to the survey, Kids Own America is also using its Web site to sign up parents eager to help their children learn the importance of savings and responsible financial conduct. The most popular feature so far with new members: the “Private List” service under which Kids Own America researchers survey a child’s area marketplace to find the best existing terms among financial institutions. For more information on the “Private List” service, parents interested in joining Kids Own America may call 1-888-KIDS-OWN (543-7696) or visit the Web site at

Kids Own America recently announced that it has succeeded in signing exclusive mulit-year agreements with two major airlines, Continental and American, allowing frequent flyers to redeem award miles as a way to put more cash in banks accounts for children. Frequent flyers will be able to use small amounts of accumulated miles to open and pay for all fees for special Kids Own America bank and brokerage accounts at participating financial institutions.

The “My Kid Counts!” survey question may be found on the Kids Own America Web site at Brody indicated that survey results will be reported after results are collected from the first 500, thousand, and then five-thousand respondents.

State(s) Bank Name of Productfor Children MinimumStartingDeposit MinimumBalance InterestRate VAGeorge Mason BankMinor Savings Account/Kids Savings AccountNone$05.25% AZ, FL, WIMarshall & IsleyPersonal Savings Account$20$202.78% ID, NV, M, OR, UT, WYFirst Security BankStatement Savings Accounts$50$02.75% NYRepublic National BankBank for Kids$1.00$02.75% MDProvident Bank of MarylandMinors Savings Account$25$02.69% IL, IN, OH, MIFirst ChicagoFirst Generation Savings Account$10$02.53% NC and 33 other statesNationsbankMinor Savings Account$25$02.50% AL, FL, GA, TNAmSouth BankMinor Savings AccountNone$02.47%


AmEx Smart Cards

With significant smart card pilots underway with Hilton Hotels, Continental Airlines, and American Airlines, American Express kicked off yet another smart card test Friday the latest one involving US West Public Services. More than 100 US West employees at a company facility in Seattle will test the re- loadable smart cards to pay for purchases at company’s gift shop, cafeteria and vending machines. US West, the first U.S. telco to introduce smart cards in 1994, is developing a multi-functional smart card with global interoperability. The company already operates 20,000 advanced payphones in WA, OR, CO, AZ and MN, that accept US West’s chip-based phone card: ‘US West Telecard’. Both firms are members of the Global Chipcard Alliance.


Holiday Crystal Ball

Arthur Andersen says consumer are bullish on the economy with 77% of American expecting to spend the same or more this year on holiday gifts. As a result overall 1997 retail sales will increase 3%-5%. The ‘Arthur Andersen Holiday Outlook Survey’ says the average holiday budget is $774 per shopper. “Baby Boomers” will increase spending about 12% this year while “Generation Xers” will spend about 32% more this year. The survey also showed gift certificates are growing in popularity.