First American Payment Systems Signs Agreement With Global eTelecom for Electronic Check Conversion.

Business Editors

FORT WORTH, Texas--(BUSINESS WIRE)--Aug. 3, 2000

First American Payment Systems, one of the fastest growing merchant credit card processing acquirers, today announced an agreement with Global eTelecom to utilize that company's proprietary electronic check processing technology.

"We are very pleased to have a company of First American's stature and reputation choose us to provide their electronic check conversion services. They have an excellent reputation for service and providing cutting-edge payment solutions to our industry," said John H. Beebe, chairman and chief executive officer of Global eTelecom. "We look forward to a long relationship with them."

"We chose Global eTelecom because of their robust systems for electronic check conversion, which we believe are far superior to the competition," said Neil L. Randel, president and chief executive officer of First American Payment Systems. "Partnering with Global eTelecom will allow us to deliver another quality product to our national sales force."

About First American

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

About Global eTelecom

Global eTelecom owns the first approved technology by the National Automated Clearing House Association for electronically processing checks at the point-of-sale. Global eTelecom provides its proprietary electronic check processing services to a network of banks, independent sales agents, and credit card processors nationwide. Other electronic check services include: mail order, telephone order, lockbox conversion, recurring debit, represented check collection (RCK), and complete check image capture. For more information on Global eTelecom, visit the company's Web site at www.globaletelecom.com.