Lynk Systems, Inc. Announces Agreement with the Bankers' Bank of Kentucky.ATLANTA--(BUSINESS WIRE)--March 8, 1999--Lynk Systems, Inc. announced today an agreement with the Bankers' Bank A bankers' bank is a financial institution that provides financial services to community banks in the United States of America. Bankers' banks are owned by investor banks and may provide services only to community banks. of Kentucky (BBKY BBKY Bankers Bank of Kentucky ), a Kentucky based financial institution, to market merchant services Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or to the bank's client banks and merchants. This multi-year contract represents a major strategic move by both organizations. For Lynk, the development represents a confirmation of their LynkPARTNER program, a merchant program designed for banks. Says Lynk Vice President, Don Aronin, "LynkPARTNER is an innovative program that makes partnership with Lynk an attractive business strategy for small to medium-sized banks. By providing their business banking customers with a complete array of merchant processing and business development solutions, LynkPARTNER allows community banks to compete with the mega-banks." Lynk sees the agreement with BBKY as a significant factor in further expanding the LynkPARTNER program. Under the terms of the agreement, Lynk will be the referred merchant processing provider for Kentucky's 200 bank clients. BBKY's client bank merchants will have access to Lynk's entire product line of merchant related products and services. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Bill Fallon, BBKY President, "We are partnering with Lynk to offer our customers a state-of-the-art merchant program that is second to none. We look for stability and competitive pricing in all our services and Lynk provides both. Lynk has committed serious resources to servicing our market area and has just opened a new office in Kentucky." About BBKY: The Bankers' Bank of Kentucky was chartered in 1988 to provide correspondent services to Community Banks in the region. It serves banks in Kentucky, West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. , Tennessee and Indiana with a cost effective umbrella of non-credit and credit services. The bank is owned and directed by its customers and therefore provides a stable, noncompetitive correspondent banking Correspondent banking is an account that is established by a domestic banking institution on behalf of a foreign bank for the purpose of handling various financial transactions related to the foreign bank. Correspondent banking allows foreign banks to conduct business in the U.S. alternative. About Lynk: Atlanta-based Lynk Systems, Inc. is an integrated provider of electronic payment services Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. , cash dispensing services and other related value-added products and services. Payment services include the processing of credit and debit cards, check authorization and guarantee and electronic benefits transfer (EBT EBT See: Earnings Before Taxes ) transactions from merchant point of sale terminals. Cash dispensing services involve processing transactions from automatic teller machines See ATM. (ATM's). Lynk operates using internally developed, proprietary processing systems and technologies and differentiates itself by focusing on a single source approach to serving its customers. This strategy provides Lynk customers one company to call upon for all their processing needs and allows Lynk to control quality of service. Lynk provides payment processing services to over 50,000 merchants and cash advance services in over 6000 locations nationwide representing over 5.5 million transactions a month. Lynk's customers include small to mid-sized merchants in retail, restaurant, grocery and lodging environments. The Company employs over 300 full time management and technical personnel from its 50,000 square foot headquarters in Atlanta, GA. Services are sold through 31 direct sales offices located throughout the country, employing more than 500 sales agents. |
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