American Payment Systems Makes Strategic Technology Purchase from PaySmart America.Business Editors HAMDEN, Conn.--(BUSINESS WIRE)--March 4, 2002 American Payment Systems (APS), a wholly owned business unit of UIL UIL - User Interface Language Holdings Corporation (UIL), today announced the purchase of PaySmart America Technologies, Inc. from PaySmart America and the execution of a strategic alliance with PaySmart America. PaySmart America Technologies delivers real-time point of sale activation (POSA POSA Public Order and Security Act POSA Pattern Oriented Software Architecture POSA Passive Optical Sample Assembly POSA Parks and Open Space Advocates (Seattle, WA) PoSA Pomona College Student Art Gallery ) transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. solutions for the prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. industry. The company will add to APS's expertise in transaction processing. APS is the nationwide leader in providing walk-in bill payment processing. Annually, APS processes approximately $10 billion and 100 million transactions through more than 7,500 retail locations across 44 states. This transaction, coupled with APS's earlier acquisition of Cell Cards, positions APS as a provider of both product and transaction services to the prepaid marketplace. For additional information contact: Corey Stone, Executive Vice President, American Payment Systems, 800-309-7668, ext. 4700 or E-mail Corey_Stone@apsnet.com. |
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