ATLANTA, May 13 /PRNewswire/ -- BUYPASS Corporation, a major third-party
POS processor and leading debit transaction acquirer, reported record
transaction growth for first quarter 1998, processing 272.6 million
transactions which represented a 28% increase over 1997 first quarter volumes.
Contributing to the strong growth in the first quarter were POS debit and
electronic benefits transfer (EBT) volumes, which remain the fastest growing
categories at BUYPASS -- these categories grew 75% and 123% respectively over
first quarter 1997 volumes.
Other BUYPASS highlights for the first quarter included:
-- URM Stores, with 73 locations, was one of 8 clients to renew a contract
with BUYPASS in the first quarter. Also during that period, 14
financial institutions and retailers signed new contracts with
BUYPASS, including Heartland Card Services, LLC.
-- BUYPASS announced that its terminals are now capable of accepting the
JCB card. JCB is the largest credit card issuer in Japan and is the
fourth largest internationally. More than 37.5 million cardholders
use their JCB cards to purchase over $42.5 billion of goods and
services annually.
-- BUYPASS began processing electronic benefits transfer (EBT)
transactions for the states of Alaska and Hawaii in the first quarter.
This brings the total of BUYPASS EBT states to 27. BUYPASS is the
leading third-party EBT processor in the United States.
BUYPASS Corporation, headquartered in Atlanta, Georgia, is a major third-
party POS processor and debit transaction acquirer with annual transaction
volume of over 1 billion. BUYPASS provides processing for 50 of the top 200
grocery store chains in the United States. One out of every ten debit POS
transactions performed in the United States is processed by BUYPASS. BUYPASS
currently has electronic benefits transfer (EBT) programs in 27 states and
provides gateway access to over 50 credit, debit and EBTgateways.
Electronic Payment Services, Inc. (EPS), a privately-held company
headquartered in Wilmington, Delaware, is a leading electronic funds transfer
(EFT) processor in the United States, with approximately 2.3 billion
transactions annually. EPS is the holding company for BUYPASS Corporation and
MONEY ACCESS SERVICE INC.
SOURCE Electronic Payment Services, Inc.
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fax, 800-758-5804, ext. 576550
CONTACT:
Tricia L. Schafer, Public Relations Associate
of Electronic Payment Services, 302-791-8906
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