Payment Data Systems, Inc. Announces the Signing of E Transactions Solutions Inc. dba eCashflow Systems to a Reseller Contract
29 Giugno 2005 - 11:01PM
PR Newswire (US)
Payment Data Systems, Inc. Announces the Signing of E Transactions
Solutions Inc. dba eCashflow Systems to a Reseller Contract - E
Transactions Solutions to Become an Early Adopter of Credit Card
Account Updater - SAN ANTONIO, June 29 /PRNewswire-FirstCall/ --
Payment Data Systems, Inc. (OTC:PYDS) (BULLETIN BOARD: PYDS) today
announced that it has signed a multi-year reseller agreement with E
Transaction Solutions Inc. dba eCashflow Systems. E Transaction
Solutions dba eCashflow Systems will be directly marketing our
complete solution set for merchant services, credit card gateway,
and CSR View product that allows a biller's customer service
representatives to manage both recurring and one-time payments.
They also intend to internally utilize our Account Updater
functionality for their current and future customers. The Account
Updater function offered by PDS was announced in February of this
year. The optional product is designed for businesses that accept
payments in a "card not present" environment, such as those found
on the Internet, or those that generate recurring payments. Card
information such as expiration dates, account upgrades, name
changes, etc. change regularly. These changes can now be tracked
and updated electronically in real-time eliminating the need for
the merchant to directly contact customers for these exceptions.
Card-not-present and recurring transactions can now flow seamlessly
without the need to interrupt the process to update information.
The service greatly reduces costs associated with current manual
efforts to update credit card information, as well losses in
revenue from lost transactions. Steve Gdovic, Founder and President
of E Transaction Solutions dba eCashflow Systems said, "Our clients
with monthly recurring fees include organizations such as Fitness
Centers, Phone Companies, Cable TV providers & Utility
companies. These perfectly fit the profile for the PDS tool and
will greatly benefit from this new service." Gdovic continued,
"This is a continuing effort to provide our customers with another
state of the art tool to help collect consumer payments. Upon
completion of the pilot program with three of our YMCA clients, we
will roll out the availability of this service to over 1000
existing clients. We plan to make an additional 300 client
locations available via our business relationship with Daxko, the
leading commercial software provider to YMCAs nationwide." Louis
Hoch, President and COO of Payment Data Systems, Inc. said, "We are
very enthusiastic about the relationship with E Transaction
Solutions / eCashflow Systems. They are a forward-looking company
focused on customer service and innovation. We are pleased to be
able to provide a tool that meets those objectives very directly."
About Payment Data Systems, Inc. Payment Data Systems, Inc. is an
Integrated Payments Solution Provider delivering comprehensive,
cost-effective solutions to billers and retailers for the
processing and management of electronic payments via the Internet,
point of sale, or payments taken by Customer Service
Representatives or an Interactive Voice Response (IVR). Additional
products available from PDS include services and products that can
be implemented more quickly and less expensively than the
alternative of adding multiple payments companies as these
solutions offer a full range of payment processing capabilities.
These service offerings include: one time and recurring ACH debits
and credits, electronic lockbox and returned check services, Web
pay acceptance of credit cards and checks, telephone pay to
Customer Service Representatives for acceptance of credit cards and
checks, Interactive Voice Response systems which completely
automate the payment receiving process, and data warehousing that
enable the storage and retrieval of all payment history from one
location. Payment Data is the owner of the electronic bill payment
portal, http://www.bills.com/ . Bills.com has the ability to
transmit electronic payments to thousands of national billers. For
additional information, visit http://www.paymentdata.com/ .
Contact: Michael Long, Investor Relations, Payment Data Systems,
Inc. 210-249-4040 or via email at . About E Transaction Solutions
Inc. d.b.a. eCashflow Systems Established by Steve Gdovic in 1998
as a result of new legislation that allowed third party firms to
access the US Federal Reserve Banking System to settle NSF check
funds and charge a fee to the individual responsible for writing
the bad check. They have since experienced tremendous growth and
have become one of the leading providers of NSF collection
services. For additional information, visit
http://www.ecashflowusa.com/ . FORWARD-LOOKING STATEMENTS
DISCLAIMER Except for the historical information contained herein,
the matters discussed in this release include certain
forward-looking statements, which are intended to be covered by
safe harbors. Those statements include, but may not be limited to,
all statements regarding our and management's intent, belief and
expectations, such as statements concerning our future and our
operating and growth strategy. Investors are cautioned that all
forward- looking statements involve risks and uncertainties
including, without limitation, the factors detailed from time to
time in our filings with the Securities and Exchange Commission.
One or more of these factors have affected, and in the future could
affect, our businesses and financial results in the future and
could cause actual results to differ materially from plans and
projections. We believe that the assumptions underlying the
forward- looking statements included in this release will prove to
be accurate. In light of the significant uncertainties inherent in
the forward-looking statements included herein, the inclusion of
such information should not be regarded as a representation by us
or any other person that our objectives and plans will be achieved.
All forward-looking statements made in this release are based on
information presently available to our management. We assume no
obligation to update any forward-looking statements, except as
required by law. DATASOURCE: Payment Data Systems, Inc. CONTACT:
Michael Long, Investor Relations of Payment Data Systems, Inc.,
+1-210-249-4040, or Web site: http://www.paymentdata.com/
http://www.bills.com/ http://www.ecashflowusa.com/
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