CBS Payroll Now Featuring PayCard Product; PayCard Provides Direct Deposit for Employees Without Banking Accounts.

Business Editors & Technology Writers

FORT WORTH, Texas--(BUSINESS WIRE)--May 9, 2000

CBS Payroll, in association with ePacific.com, one of the largest independent banking electronic transaction originators in the United States, now offers an innovative service to employers and their employees in the form of the CBS PayCard(TM).

By choosing PayCard, employees can direct funds from their paycheck to be electronically deposited to a secure PayCard account, and can then access their wages any time at ATMs or Point-Of-Sale retail locations (like pay-at-the-pump gas stations and grocery stores) worldwide.

CBS PayCard provides significant benefits to employers who offer it to their employees. PayCard reduces fraudulent and forged payroll checks, decreases bank account reconciliation time, and solves payroll distribution problems for remotely located employees. With PayCard, employees do not have to spend time cashing their paychecks -- time that can add up to the loss of three full workdays over the course of a single year, according to researchers at the Direct Deposit and Direct Payment Coalition.

Micheal Sykes, President of CBS Payroll, comments, "We originally focused on providing PayCards to unbanked employees of companies, a service that fit nicely with the needs of many employers. However, CBS Payroll quickly discovered that employees found additional reasons for choosing the convenience of PayCard. We had created a win-win situation for everyone."

Employees are choosing PayCard for its many advantages over traditional paychecks. First, employees without bank accounts can avoid the exorbitant fees and long lines commonly associated with check cashing firms. PayCard allows employees to have instant, immediate access to their wages on payday, even if they are on vacation, traveling on business, or out of the office that day. Another attractive feature is that employees can have a separate PayCard account for a child in college, a spouse, or a relation in another country, designating specific funds to be deposited to the individual's secure account.

PayCard is the first rollout product to be featured as part of the Total Electronic Payroll Solution (TEPS(TM)), engineered by CBS Payroll.

About ePacific.com

ePacific.com, a subsidiary of ePacific, Inc., is a provider of customized debit card payments systems and electronic funds transfer services. eP has developed an Internet-based transaction processing system using proprietary software that provides complete front-end to back-end electronic funds transfer processing services. As of January 2000, eP (www.epacific.com) had issued more than 29,000 electronic debit cards nationwide.

About CBS Payroll

A national provider of payroll and employer services, CBS Payroll has been serving businesses since 1966. More information about CBS Payroll and the new PayCard capabilities can be found on the company's website at www.cbspayroll.com, or by calling the company directly at 888/920-4227.