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Payment Data Systems, Inc. Contracts
with XL Payment Systems, Inc. for Funds Loading Services
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San Antonio, TX Jul 21, 2005 Payment Data
Systems, Inc. (NASDAQ OTCBB: PYDS) today announced the
signing of a multi-year agreement with XL Payment Systems,
Inc. to provide payment services for debit card loading
and risk management.
The PDS solution provides payment origination for debit
card loading that can come directly from a XL Payment
Systems Customer Service Representative or a XL Payment
Systems branded website. XL Payment Systems implemented
Payment Data's IPS ACH*Gateway which is a Microsoft.NET
Connected webservice. The gateway will be used to debit
consumers checking and/or savings account when loading
funds on their XL Payment Systems Debit Card for worldwide
usage. XL Payment Systems also chose to utilize Payment
Data's IPS CSR*View product for tracking and reporting as
well as customer relationship management for their
in-house call center.
President and COO of Payment Data Systems, Inc. Louis
Hoch, said, "We are very pleased to be able to deliver
this solution to this relationship with XL Payment
Systems. XL Payment Systems has done well issuing VISA
branded cards and we believe our risk & fraud systems will
provide effective loading of funds for their consumers
while minimizing the risk for all participants."
XL Payment Systems President and CEO, Robert Cannon, said,
"We are thrilled with the solution that PDS created for
our card programs. We selected PDS due to their deep
experience in payment origination, risk management,
account verification, security, technology, and customer
service. PDS qualifying for the Microsoft.NET Connected
Logo program relieved any concerns about compatibility
with our systems. We look forward to more implementations
with PDS."
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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.billx.com . billx.com has the
ability to transmit electronic payments to thousands of
national billers. For additional information, visit
www.paymentdata.com.
Website:
http://www.paymentdata.com
About XL Payment Systems, Inc.
XL Payment Systems is a VISA ISO and is a leading
provider of prepaid debit cards worldwide. Based in Houston,
Texas, XL Payment Systems is able to provide a prepaid debit
card solution for every need. We provide a turn-key solution
including card production, PIN generation, customer service,
Regulation E, funds management, settlement, network access,
bank issuance/sponsorship, transaction processing, and
transaction reporting. This is all performed at the Card
level, merchant level, and distributor level. The XL Payment
Systems Card Program is sponsored by First Federal Bank. All
Cards are issued by First Federal bank. For more information
visit www.xlcard.com or (800) 510-1314.
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Payment Data Systems, Inc.
Michael Long
Chairman and CEO
phone: 210-249-4040
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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.
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