ATLANTA, Sept. 2 /PRNewswire/ -- BUYPASS Corporation announced today that
Rite Aid Corporation (NYSE: RAD) signed an exclusive multi-year contract with
BUYPASS for debit, electronic benefits transfer (EBT) and gateway processing.
"We have an excellent relationship with BUYPASS and especially like their
customer focus and expertise in providing processing services to the retail
industry," said Don Shellenberger, director of revenue accounting, Rite Aid
Corporation. BUYPASS will process point-of-sale (POS) transactions for all
3,960 Rite Aid locations with over 11,000 terminals.
Other recent BUYPASS highlights:
Quarterly Statistics
-- BUYPASS continued to experience record transaction growth for the
second quarter in a row, reporting a 27% increase over 1997 volumes
with 308.5 million transactions. POS debit and electronic benefits
transfer (EBT) volumes continue to be the fastest growing categories
at BUYPASS; these categories grew 62% and 183% respectively over
second quarter 1997 volumes.
First Six Months of 1998 Statistics
-- 10,991 merchants added EBT capabilities through BUYPASS during the
first half of 1998.
-- Supermarket transaction volume was up 49% for the first six months of
the year compared to '97 volumes.
-- BUYPASS added 7,100 stores for the first half of the year in the
following categories: Financial Institution 2,135; Supermarket 2,033;
Petroleum 2,932.
Current Statistics
-- BUYPASS began processing electronic benefits transfer (EBT)
transactions for the states of Arizona, New Hampshire, North
Carolina, Rhode Island, Vermont and Washington D.C. most recently.
This brings the total of BUYPASS EBT states to 33. BUYPASS continues
to be 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 almost 1.2 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 33 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 2.7 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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