Payment Data Systems, Inc. and Symmetrex, Inc. Sign Strategic Agreement

San Antonio, TX March 03, 2006 Payment Data Systems, Inc. (OTC BB: PYDS) an integrated electronic payments solutions provider, announced today that it has entered into an agreement with Symmetrex, Inc, a leading financial transaction processing company to launch a series of prepaid debit cards.

As specified in this new agreement, Payment Data (PDS) will add Symmetrex as a supported card processor and will support access to the Symmetrex’s platform through PDS’s debit card processing platform, applications and API services.

Louis Hoch, PDS’s President and COO said, “It is strategic for PDS and PDS’s customers to have processor independency in our debit card applications and services. The addition of Symmetrex to our group of supported processors provides our customers access to another leading debit card processor and provides flexibility for our customers card programs that can not be obtained through single processor dependant applications and services.”

PDS will implement the Carmen Electra card program with Symmetrex processing services as the backend. PDS will also implement a large, unnamed, private labeled ATM card deal with Symmetrex as well.

Michael Long, PDS’ Chairman and CEO said, “We are very pleased to secure this strategic agreement with Symmetrex. We view them as clearly the leader in the prepaid transaction processing arena.” The value added philosophy of Symmetrex meshes ideally with ours and that value extends into our current and future customers.”

Gil Hooper, Senior Vice President of Symmetrex stated, “Payment Data Systems is uniquely qualified to assume a leadership position in the prepaid debit card industry due to their history in transaction processing and consumer bill payments. We are pleased to have PDS as a partner.”
 
About Payment Data Systems, Inc.

Payment Data Systems is an integrated payment solutions provider to merchants and billers. We provide an extensive set of tailored products to deliver world-class payment acceptance, processing, and risk/fraud management. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers. Whether you are in the market for card issuance, payment acceptance or bill payment solutions we have a solution for you.

Payment Data is the owner of the electronic bill payment portal, http://www.billx.com. Billx.com has the ability to transmit payments to thousands of national billers.

Payment Data is also the exclusive license holder of the rights to market the Carmen Electra gift and prepaid cards. To receive updates on the Carmen Electra card program sign-up at www.carmencard.com
Payment Data Systems, Inc.
Michael Long
Chairman and CEO
phone: 210-249-4040
 
  
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