Accesspoint Expands Check Security and Continues to Simplify Merchant Services.

Business Editors and High-Tech Writers

IRVINE, Calif.--(BUSINESS WIRE)--May 2, 2001

Accesspoint Corp. (OTCBB:ASAP) announced a major expansion of their check services platform, including access to a fraud prevention "check verification" database to assist merchants in determining whether or not to accept a check or ACH transaction, and the immediate cash conversion of checks for the company's merchant clients.

The market opportunities in check processing are almost three times larger then the size of the credit and debit market with an estimated 68 billion checks written annually by Americans. The majority of these drafts are processed through labor intensive and costly methods.

Accesspoint's services will now provide merchants the same fraud security they enjoy in accepting credit cards, with the ability to immediately turn their checks into cash. It will also help them to avoid the unnecessary fees associated with the receipt of bad checks, which continues to be a material cost and drain upon merchants.

"Security and cash flow are two of the prime concerns for our merchant customers," said Tom Djokovich, CEO of Accesspoint. "These Accesspoint solutions serve as another logical step in the expansion of our mainstream business services. The integration of Internet payment technologies with retail payment solutions is the cornerstone of our business model.

"The addition of these services serves our brand well at establishing Accesspoint as a market leader in the payment processing industry."

This new function will pass data through a database of more than 10 million records to make acceptance recommendations based upon a consumer's check writing history, check return rates, and velocity scoring (determining if a transaction is likely to be fraudulent based upon existing open transactions).

Access to the fraud prevention database will be made available through the use of Accesspoint's Transaction Manager and Merchant Manager Enterprise products for MO/TO (mail order/telephone order) and Internet merchants, as well as through the use of electronic check readers at retail locations and should be available within one to two weeks.

In addition to Accesspoint's current credit card and other non-cash processing services, is Accesspoint's new check conversion/truncation service. This service will allow a merchant to take a paper check at retail or any off-line business location, and have it converted into an electronic draft instantly.

This reduces merchant processing costs, decreases processing times, and improves clients' cash flows. Check readers and terminals will dial into Accesspoint's processing center and submit the check for electronic settlement from the point of sale.

This transaction can then be tracked from within Accesspoint's Transaction Manager online interface making the management of all non-cash transactions more efficient and less costly for the merchant.

About Accesspoint

Accesspoint has been serving thousands of merchants nationwide since 1995 and has combined its mature Application Services technology platform with its unique relationships with Chase Merchant Services LLC and First National Bank of Omaha to provide bundled payment acceptance and business management services.

These programs provide customers with multiple payment acceptance capabilities including credit card and check transaction, a fully operational e-commerce and business management Web site, and a central Web-based management system for servicing both the brick-and-mortar and Web-based sides to each business.

This news release contains forward-looking statements regarding Accesspoint's business strategies and future plans of operations. Forward-looking statements involve known and unknown risk and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, the need to raise additional capital until the company can fund itself directly from operations, its ability to expand its ISO network and its ability to attract additional customers. The forward-looking statements contained in this news release speak only as of the date hereof and Accesspoint disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Accesspoint's expectations or future events.