WASHINGTON and SPOKANE, Wash., Nov.
15, 2010 /PRNewswire/ --Blackboard Inc. (Nasdaq:
BBBB), a leading provider of campus card commerce, security and
financial services, today announced a new partnership with PE
Systems, LLC to cut credit and debit card processing costs for
colleges and universities.
Hundreds of higher education institutions already use the
leading Blackboard Transact™ platform to support millions of
dollars in campus financial transactions every day. By partnering
with PE Systems, the companies can leverage PE Systems' analytic
process to help higher education institutions lower processing
expenses for credit card payments.
"PE Systems does all the work for us," said Elizabeth Brock, Assistant Vice President and
Controller at George Mason University.
"They're the ones unraveling the complexities of our merchant
statements. My existing credit card processing relationships are as
solid as ever. The only difference is we've put thousands of
dollars back into George Mason
University's bottom line."
The partnership leverages the Blackboard Payment
Gateway™, a powerful IP-based processing system which provides
flexible, scalable and secure payment processing and fraud
management services to campuses nationwide
"The performance of our Blackboard Payment Gateway has provided
an environment for dining services that is seamless and reliable
for the customers and for the reconciliation and reporting
process," said Randy Willis, SkyCard
Office Manager at Fort Lewis
College.
To date, PE Systems has analyzed over $270 billion in payment card transactions at over
20,000 client locations, identifying savings opportunities more
than 96 percent of the time. Higher education systems working with
PE Systems have realized savings ranging from $237,900 during one three-year period to
$1.7 million over a six year period.
In each case, the institutions were able to recognize savings
without switching their current payment processing providers or
established banking relationships and used the savings to fund
additional, much needed student services and educational
programs.
"PE Systems has vast expertise in the payments processing
industry and brings tremendous value to our clients in higher
education who are looking to identify cost savings with their
payment card processing operations," said Mark Gunter, Vice President at Blackboard
Transact. "We are pleased to team up with PE Systems to bring
continued value to the Blackboard Transact community."
"Because these institutions are continually challenged with
doing more with less, we are particularly pleased to have been able
to help reduce and manage one of their largest line item expenses
to the benefit of their students," said Bob
Skattum, Chief Operating Officer of PE Systems. "We excited
to partner with Blackboard to deliver similar savings and service
to our mutual clients."
For more information about Blackboard Transact, please visit
http://blackboard.com/Commerce-Security/Transact-Platform.aspx. For
more information about PE Systems, please visit
http://pesystemscorp.com.
About Blackboard Inc.
Blackboard Inc. (Nasdaq: BBBB) is a global leader in enterprise
technology and innovative solutions that improve the experience of
millions of students and learners around the world every day.
Blackboard's solutions allow thousands of higher education, K-12,
professional, corporate, and government organizations to extend
teaching and learning online, facilitate campus commerce and
security, and communicate more effectively with their communities.
Founded in 1997, Blackboard is headquartered in Washington, D.C., with offices in North America, Europe, Asia
and Australia.
About PE Systems, LLC.
Established in 2001, PE Systems is a privately-held company
based in Spokane, Washington,
whose sole purpose is to help clients nationwide to understand,
simplify, and manage the expense of their payment processing
environment. Through patented technology, we're able to offer
cost-saving solutions that significantly reduce your credit and
debit card processing expenses -- just like we have for more than
20,000 merchant locations around the country. Universities, higher
education, non-profits, retailers, media corporations, online
merchants, and professional sports teams rely on PE Systems for
accurate oversight and management of processing fees, saving their
organizations valuable time and improving transactional
margins.
Any statements in this press release about future
expectations, plans and prospects for Blackboard and other
statements containing the words "believes," "anticipates," "plans,"
"expects," "will," and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including the factors
discussed in the "Risk Factors" section of our Form 10-Q filed
on November 5, 2010 with the SEC. In
addition, the forward-looking statements included in this press
release represent the Company's views as of November 15, 2010. The Company anticipates that
subsequent events and developments will cause the Company's views
to change. However, while the Company may elect to update these
forward-looking statements at some point in the future, the Company
specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to
November 15, 2010.
SOURCE Blackboard Inc.