PDS Contracts with Meta Payment Systems for Card Issuance
Sponsorship including the Carmen Electra Licensed Gift and
Personal Spending Cards
|
San Antonio, TX
January 25, 2006 Payment Data Systems, Inc. (NASDAQ
OTCBB: PYDS) an integrated electronic payments solutions
provider, announced today that it has signed an agreement
with Meta Payments Systems (MPS), a division of MetaBank.
Meta Financial Group, Inc. (NASDAQ NM: CASH) is the holding
company for MetaBank.
Under the Agreement, MetaBank will be the issuing bank
for select PDS prepaid card programs running on the various
card associations and debit networks.
MPS and PDS will work together to develop a series of
competitive celebrity, gift, and personal spending prepaid
debit card programs. PDS is focused on aggressively
developing and marketing prepaid gift cards, personal
spending cards, and health benefits programs.
Louis Hoch, President and COO of Payment Data Systems,
Inc, said “We selected Meta Payment Systems for their
unparalleled leadership, financial viability, and their
premier standing with the various card associations. The
combined ability of MPS and PDS will create a card-issuing
platform that will have unique execution and product
capabilities.”
Ian Stromberg, Director of Business Development for Meta
Payment Systems, said, “We are very pleased to have PDS join
us as one of our Program Managers. PDS brings to this
relationship a drive to create innovative card products for
this market and we’re looking forward to the new
opportunities they will present.”
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
|
|
|
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.
|
|
