Monday June 19, 3:59 pm Eastern Time
Company Press Release
Electronic Clearing House, Inc. and TRAMS, Inc. Sign Agreement to Market Product to Travel Agencies Nationwide
AGOURA HILLS, Calif.--(BUSINESS WIRE)--June 19, 2000--Electronic Clearing House, Inc. (Nasdaq:ECHO - news) announced the signing of an agreement with TRAMS, Inc., Los Angeles, to integrate ECHO's Internet processing service, ECHONLINE, with their TRAMS Back Office System. The inclusion allows client agencies to process their travel-related service fees through ECHO at a greatly reduced cost. TRAMS will market the new payment option to their existing client base of more than 11,000 travel agency locations.
TRAMS software is currently utilized by 31 percent of all travel agencies nationwide. ``TRAMS' systems assist agencies in three key areas: accounting, management reporting and marketing,'' commented Jack Wilson, Vice President of ECHO. ``TRAMS is far and away the dominant system being used today among travel agencies so ECHO is honored to be chosen by TRAMS to provide a payment option that each agency will find profitable, reliable and easy to use.''
About TRAMS, Inc.
TRAMS, Inc. develops and supports accounting, management and marketing software for retail travel agencies in the United States and worldwide to help travel agency owners and employees become more efficient and productive. TRAMS is growing at a rate of 150 new agencies per month and is endorsed by every leading agency consortium, cooperative and franchise. (See www.trams.com for more information.)
About ECHO
Electronic Clearing House, Inc. provides credit card processing, cash advance services, check guarantee, check verification, check conversion, inventory tracking and/or various Internet services to over 41,000 retail merchants, U-Haul dealers and casinos across the nation. ECHO also designs, develops and integrates software and point-of-sale hardware that is utilized as credit card processing terminals, automated money order dispensers, inventory tracking devices, and casino cash advance systems.
To take advantage of the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995, you are hereby cautioned that this release contains forward-looking statements that are based upon current expectations and involve a number of risks and uncertainties. Actual operations and results may differ materially from those expressed in the forward-looking statements made by the Company.
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