BUYPASS Corporation Hits High of 17 Million POS Debit Transactions During the Second Quarter

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BUYPASS Corporation Hits High of 17 Million POS Debit Transactions During the Second Quarter
    ATLANTA, Aug. 18 /PRNewswire/ -- BUYPASS Corporation announced today that
it hit an all time high of 17 million debit POS transactions in June which
represents a 70% increase in debit POS over second quarter 1996.
    Other highlights for the second quarter include:
    --  BUYPASS reported 241.6 million total transactions in the second
quarter for growth of 29%, over second quarter 1996.  BUYPASS also reported
within that total, a record 48.5 million debit POS transactions for the second
quarter, which represents a 70% increase over second quarter 1996.
    --  Early in the second quarter BUYPASS signed Pennzoil in a deal that
includes a processing agreement with its subsidiary Jiffy Lube, the largest
quick change oil company in the United States.  The agreement is for
850 locations encompassing Pennzoil gas stations and company owned Jiffy Lube
stores.  Pennzoil will also offer BUYPASS POS services to an additional
900 franchise stores.
    --  BUYPASS recently added the states of Georgia, Iowa and Missouri to its
EBT program.  The addition of these states brings the total number of EBT
states available through BUYPASS to 19.  EBT volume continues to grow at a
rapid pace with over 5 million transactions in the second quarter for a 28%
increase over second quarter 1996.

    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 over 2 billion transactions
annually.  EPS is the holding company for BUYPASS Corporation and MONEY ACCESS
SERVICE INC.
    BUYPASS Corporation, headquartered in Atlanta, Georgia, is a major
third-party POS processor and debit transaction acquirer with annual
transaction volume of over 900 million.  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 also provides gateway access to over 46 debit and credit gateways and
electronic benefits transfer (EBT) programs in 19 states.
SOURCE Electronic Payment Services, Inc.