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ELECTRONIC PAYMENT SERVICES, INC. ANNOUNCES MANAGEMENT CHANGES

 WILMINGTON, Del., Jan. 12 /PRNewswire/ -- Electronic Payment Services, Inc. (EPS) today announced management changes within two of its three subsidiary groups, BUYPASS Corporation and MONEY ACCESS SERVICE INC. (MAC).
 The announcement was made by David Van Lear, chairman and chief executive officer of EPS, headquartered in Wilmington. John R. Festa has been named chairman of BUYPASS Corporation, headquartered in Atlanta. Michael L. Douglas has been named president and chief executive officer of BUYPASS, moving from his position as president and CEO of MONEY ACCESS SERVICE INC. Moving into Douglas' position at MONEY ACCESS SERVICE is John R. Beran, formerly Midwest manager of MONEY ACCESS SERVICE.
 According to Van Lear, the changes are reflective of the magnitude of growth and expansion at EPS over the past year.
 "These changes will allow us to apply the wealth of management talent within our organization in the most meaningful and effective way, and to capitalize on the multitude of opportunities in today's marketplace," said Van Lear. "John Festa has done an outstanding job building BUYPASS. As chairman, he will continue to play a significant role in identifying future strategies. John will work with me at the EPS level to develop and implement approaches for increasing corporate value for our shareholders. Moving management within the organization strengthens our subsidiaries and provides us with greater insight as to how our subsidiaries can benefit from one another and the company as a whole."
 EPS is the holding company for BUYPASS Corporation, MONEY ACCESS SERVICE INC. and Network Services.
 BUYPASS is a major POS debit transaction acquirer and maintains direct connections to multiple ATM debit networks. BUYPASS offers applications for the communication of financial information, including authorization, electronic draft capture (EDC), and electronic funds transfer (EFT).
 MAC is the largest regional processor of automated teller machine transactions in the United States, with more than 13,000 ATMs and 57,000 point-of-sale (POS) terminals in 16 states. More than 1,450 financial institutions are participants in MAC, with 28 million customers carrying cards bearing the MAC logo.
 Network Services, a national leader in unbranded ATM and merchant processing, will become an official subsidiary of EPS in late first quarter of 1994, upon completion of Mellon Bank Corporation's purchase of equity participation in EPS.
 BUYPASS is a registered trademark of BUYPASS Corporation.
 MAC is a registered trademark of MONEY ACCESS SERVICE INC.
 /delval/
 -0- 1/12/94
 /CONTACT: Barbara Link, EPS Public Relations Manager, 302-791-8529/


CO: Electronic Payment Services, Inc.; BUYPASS Corporation; MONEY
 ACCESS SERVICE INC. ST: Delaware, Georgia


IN: FIN SU: PER

MP-MK -- PH002 -- 1295 01/12/94 09:09 EST
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Publication:PR Newswire
Date:Jan 12, 1994
Words:432
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