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EPS, BUYPASS, MAC AND NYCE SETTLE NETWORK ACCESS DISPUTE

 WILMINGTON, Del., and NEW YORK, Jan. 4 /PRNewswire/ -- Electronic Payment Services, Inc. (EPS); two EPS subsidiaries, BUYPASS Corporation and MONEY ACCESS SERVICE INC. (MAC); and the New York Switch Corporation, owner of the NYCE network, today announced the settlement of a lawsuit brought by BUYPASS against the New York Switch Corporation.
 The settlement relates to processing, network access and operating policies. The terms of the settlement are:
 -- BUYPASS is granted third-party point-of-sale (POS) processor status for the NYCE network effective immediately.
 -- NYCE can also be certified as a third-party POS processor for the MAC network effective immediately.
 -- MAC and NYCE will allow each other to be ATM processors in their respective networks, and MAC will also allow other unaffiliated third parties to provide ATM processing in their network as well. (NYCE already allows other unaffiliated third-party processors.) Once the MAC network's currently scheduled integration and consolidation as a result of the formation of EPS is completed, mutual access will be fully effective on Oct. 1, 1995, for NYCE, MAC, and third-party processors, including any presently unaffiliated third-party processors that EPS may acquire.
 -- The routing of POS and ATM transactions (when both the NYCE and MAC logos appear on the bank card) will be determined by the bank card issuer.
 -- When both MAC and NYCE network marks appear on cards, ATMs and in POS locations, the graphics will be of equal size, prominence and frequency.
 -- There are no monetary damages or other financial considerations in this settlement.
 Electronic Payment Services, Inc. is the holding company for MONEY ACCESS SERVICE and BUYPASS Corporation. BUYPASS is a major POS debit transaction acquirer and maintains direct connections to multiple ATM debit networks. The company offers applications for the communication of financial information, including authorization, electronic draft capture (EDC), and electronic funds transfer (EFT).
 NYCE is one of the largest electronic funds transfer (EFT) networks in the nation, with more than 11,400 ATMs and 51,000 point-of-sale terminals in 38 states, Puerto Rico and the Virgin Islands. More than 740 financial institutions are members of NYCE, with their 21 million customers carrying cards bearing the NYCE logo.
 MAC is the largest regional processor of automated teller machine (ATM) transactions in the United States, with more than 13,000 ATMs and 57,000 POS terminals in 16 states. More than 1,450 financial institutions are participants in MAC, with their 28 million customers carrying cards bearing the MAC logo.
 BUYPASS is a registered trademark of BUYPASS Corporation.
 NYCE is a registered trademark of the New York Switch Corporation.
 MAC is a registered trademark of MONEY ACCESS SERVICE INC.
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 /CONTACT: Elizabeth Taylor, SVP, Marketing & Sales of The NYCE Network, 201-488-6111, ext. 630, or Barbara Link, public relations manager of Electronic Payment Services, 302-791-8529, or Kate McDonough of McDonough & Associates, 212-334-0033/


CO: Electronic Payment Services, Inc.; BUYPASS Corporation; MONEY
 ACCESS SERVICE INC.; New York Switch Corporation ST: Delaware, New York IN: FIN SU:


OP -- PH001R -- 8933 01/04/94 13:01 EST
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Publication:PR Newswire
Date:Jan 4, 1994
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