WILMINGTON, Del., May 19 /PRNewswire/ -- BUYPASS Corporation, a major
third party POS processor and leading debit transaction acquirer, announced
that Mellon Bank signed a contract for credit, debit and EBT acquiring
services. Mellon, a $42 billion institution, plans to take advantage of
BUYPASS' strength in the supermarket, major retail and petroleum industries.
Other highlights for the first quarter include:
-- BUYPASS reported 213 million transactions overall in the first quarter
for growth of 30% over first quarter volume for 1996. BUYPASS also
reported a record 40 million debit POS transactions for the first
quarter, which represented a 61% increase over first quarter 1996
volume.
-- BUYPASS added 6 new states to its EBT program Alabama, Colorado,
Connecticut, Louisiana, Massachusetts and Oklahoma. The addition of
these states brings the total number of EBT states available through
BUYPASS to 16. EBT volume grew 22% in the first quarter over first
quarter 1996.
-- BUYPASS signed First of Omaha Merchant Processing, a subsidiary of
First National Bank of Omaha, Nebraska, to process credit, debit, EBT
and pay-at-the-pump transactions. First of Omaha is the sixth
largest bank acquirer and the second largest in-house processor in
the U.S.
BUYPASS Corporation projects annual transaction volume of over
900 million in 1997. According to industry publications, BUYPASS processes
13% of debit POS transactions performed in the United States. BUYPASS also
provides gateway access to over 46 debit and credit gateways and electronic
benefits transfer (EBT) programs in 16 states. BUYPASS is a subsidiary of
Electronic Payment Services, Inc. (EPS), a privately held company
headquartered in Wilmington, Delaware. EPS is a leading electronic funds
transfer (EFT) processor in the United States, with over 2 billion
transactions annually.
SOURCE Electronic Payment Services, Inc.
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CONTACT: Tricia Schafer of Electronic Payment Services, 302-791-8906
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