First American Payment Systems, L.P. Announces Multi-Year Processing Agreement With Accelerated Card Company, Inc.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--Sept. 6, 2001

First American Payment Systems, L.P. and Accelerated Card Company, Inc. (ACC) have entered into a three-year credit card processing agreement. The total value of the agreement is projected at more than $1 billion in processing volume.

According to Pamela Stewart, founder and chief executive officer (CEO) of ACC, the company has searched for a strategic business partner for the past few years. "We liked the quality of service and flexibility offered by First American. Their track record of providing predictable results was equally appealing," she said. "First American understands our type of business and will open a whole new avenue of opportunities for us. I feel we have found a home with First American."

The alliance between First American and ACC falls in line with First American's long-term goals, according to Neil L. Randel, president and CEO of First American. "ACC's experience with business-to-business transactions, their history of writing and servicing large volume merchant accounts, and the specialty applications they've developed are a good fit with our company," he said. "We also value their hands-on commitment to customer satisfaction and support."

First American Payment Systems, L.P.

First American Payment Systems, L.P., a privately owned company founded in 1990, provides full-service electronic credit card authorization and payment systems to retail, restaurant, mail order, telephone order, Internet and home-based merchants throughout the United States. First American's divisions include national ATM deployment, Secur-Chex(TM) check guarantee, FirstPay.Net(TM) e-commerce payment gateway, and Merimac Capital point-of-sale equipment and ATM leasing. The company also offers electronic gift certificates and electronic check conversion. First American provides services for more than 25,000 merchants and operates 280 ATMs nationally. For more information on First American Payment Systems, visit the company's Web site at www.first-american.net.

Accelerated Card Company, Inc.

Accelerated Card Company, Inc. has been an ISO/MSP since 1992. The company specializes in mail order/telephone order, direct marketing, e-commerce and business-to-business merchants. ACC is also active in the field of international multi-currency acquiring. For more information, visit the company's Web site at www.accard.com.