ATLANTA, April 7 /PRNewswire/ -- BUYPASS Corporation today announced the
addition of the states of Alabama, Massachusetts and Oklahoma to their
electronic benefits transfer (EBT) gateway service. With the addition of
these three states, BUYPASS now provides EBT processing in 16 states:
Alabama, Colorado, Connecticut, Illinois, Kansas, Louisiana, Maryland,
Massachusetts, Minnesota, New Jersey, North Dakota, Oklahoma, South Carolina,
South Dakota, Texas and Utah. Electronic benefits transfer allows welfare
recipients to use state-issued plastic cards to access benefits -- such as
food-stamps -- electronically at participating supermarkets and other
retailers. BUYPASS provides switching and authorization for these types of
transactions and is one of the leading processors to offer EBT services in the
nation.
EBT is one of the fastest growing transaction categories at BUYPASS, with
volumes increasing over 100% year over year, and generating about 1.6 million
gateway transactions per month.
"Growth in EBT is really picking up momentum in 1997," said Ruth Ann
Marshall, president of BUYPASS. "We've already certified six new states this
year, and we expect to more than double that number by third quarter. By year
end we expect to be processing EBT in half the states in the continental U.S."
Marshall stated that BUYPASS expects to add the states of Georgia and Florida
to their EBT service in the near future.
BUYPASS Corporation, headquartered in Atlanta, Georgia, is a major
third-party point-of-sale (POS) processor and a leading debit transaction
acquirer with annual transaction volume of almost 800 million. More than one
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, as well as electronic benefits transfer programs in
16 states.
BUYPASS is a subsidiary of Electronic Payment Services, Inc. (EPS), a
privately held company headquartered in Wilmington, Delaware and a leading
electronic funds transfer (EFT) processor in the United States, with over
2 billion transactions annually. EPS is also the holding company for MONEY
ACCESS SERVICE INC., an EFT processor to the financial services industry and
operator of the MAC(R) EFT network.
SOURCE Electronic Payment Services, Inc.
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CONTACT:
Tricia L. Schafer, Public Relations Associate
of Electronic Payment Services, 302-791-8906
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