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AMERICAN PAYMENT SYSTEMS SELECTS SOLUTRAN FOR POINT-OF-SALE (POP) CHECK CONVERSION

Minneapolis – (June 22, 2004) – American Payment Systems (APS), the nation's leading provider of walk-in bill payment service for half of the nation’s leading utilities and similar bill issuers, selected treasury management service provider Solutran® to provide point-of-sale (POP) check conversion for its walk-in bill payment transactions. Fully implemented June 2, 2004, the POP agreement extends the highly successful return check processing relationship already existing between APS and Solutran.  

“American Payment Systems is thrilled to extend our relationship with Solutran to now include POP check conversion services,” said APS’ Director of Bill Payment, Steven LaBella. “Solutran is an outstanding company and our partnership allows us to further extend the top quality services provided to APS clients.”

Solutran's POP service combines the benefits of paper checks with the convenience, speed, and security of the ACH network. POP automatically converts a consumer's check into an electronic transfer at the point of sale, which reduces any check handling and clearing costs while dramatically speeding up the settlement process. Check conversion reduces NSF returns and significantly improves cash flow. Returns are processed faster, thereby reducing exposure to bad check writers.

“We are pleased to extend our processing relationship with American Payment Systems to include their POP volume. Our platform, highly customized for APS’ client base, continues to set the standard for processing, reporting, and reconciliation in a check conversion environment,” said David Roy, Vice President of Business Development at Solutran.

About American Payment Systems

APS is the nationwide leader in providing bill payment processing for customers who want the convenience of paying in-person. APS employs over 225 people and serves over 125 utilities and billers in 50 states through a network of over 10,000 retail locations, including leading supermarkets, pharmacies, convenience stores, and check cashing outlets. These agents collectively process over 125 million payments totaling $12 billion annually.  APS was founded in 1990 in New Haven, Connecticut by United Illuminating with the purpose of automating the walk-in bill payment process. Since then, APS has been an innovator in the industry and has introduced products that have improved bill payment processing and accuracy. For more information, visit the APS website at www.apsnet.com or call 203.679.4400.

About Solutran

Since 1984, Solutran has provided a full range of treasury management solutions to businesses that process a high-volume of consumer payment transactions. Solutran’s customized solutions span the payment spectrum, from paper check processing and conversion to fully electronic payment processing. Services offered include depository processing, accounts receivable conversion, controlled disbursement services and returned check management and conversion services. Headquartered in Minneapolis, Solutran has 85 employees at its corporate office and maintains relationships with ten affiliate processing centers across the United States and Canada. For more information, visit Solutran’s website at www.solutran.com or call 888.SOLUTRAN (888.765.8872).

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Phone: 763.559.2225     Fax: 763.559.8872     Email: solutions@solutran.com

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