|
Payment Data Expands Services Agreement With NeWave; Increases
Annual Value Approximately $200,000 |
|
|
San Antonio, TX
Jul 28, 2005 Payment Data Systems (OTC BB: PYDS -
News) announced today announced the signing of an expanded
renewable agreement with NeWave, Inc. for its wholly-owned
subsidiary OnlineSupplier.com. Previously, Payment Data
Systems (PDS) announced an agreement whereby
OnlineSupplier.com began utilizing the PDS solutions of (i)
IPS*CSRView, a web- based application which allows
OnlineSupplier.com customer service representatives to
accept and enter ACH or payments taken from customers via
telephone and (ii) IPS*Re-Debit Express, a process for
handling and recovering NSF checks via electronic
transaction resubmissions. OnlineSupplier.com will now
have the ability to utilize the recently announced PDS
Account Updater product along with traditional credit card
processing, ACH processing, and ACH verification, which
takes advantage of its new .Net webservice product. Most
of these services are scheduled to be implemented within
the next several weeks.
It is expected that the expanded services will result
in additional estimated revenues to PDS of $208,000,
increasing the total value of the agreement to
approximately $550,000 a year.
Payment Data Systems President and COO Louis Hoch,
stated, ”We are very pleased to see our relationship
expanding with such a fast growing company as NeWave. We
believe we have the right mix of solutions that enable
these innovative companies to offer creative payment
solutions and flexibility for their customers, while
reducing their operating expenses and adding to their
bottom line.
NeWave CEO Michael Hill commented, “Given Payment Data
Systems exceptional suite of products, NeWave is able to
capitalize on decreasing expenses, and capture revenue,
which to date has been unrealized. We will continue to
utilize the innovative solutions offered by Payment Data
to improve our sales processes.” |
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
NeWave, Inc.
NeWave, Inc. is a leading online auction and e- commerce
solutions provider which utilizes the internet to maximize
the income potential of its customers through its subsidiary
OnlineSupplier.com. OnlineSupplier.com offers organizations
of all sizes the ability to create and manage website
solutions and internet marketing necessary for e-commerce.
Since inception in August of 2003, Onlinesupplier.com has
serviced over 225,000 paid members. To find out more about
NeWave (OTCBB: NWWV), visit our websites at
www.newave-inc.com and www.onlinesupplier.com.The Company’s
public financial information and filings can be viewed at
www.sec.gov.
|
Payment Data Systems, Inc.
Michael Long
Chairman and CEO
phone: 210-249-4040
|
|
|
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.
|
|
