U.S. Wireless Data to Provide Merchant Services Inc. with Wireless Credit Card Services
NEW YORK--(BUSINESS WIRE)--March 2, 2001--U.S. Wireless Data, Inc. (USWD) (OTC: USWE - news), the leader in wireless payment services, today announced that it has signed an agreement with Merchant Services Inc. (MSI), a leading credit/debit card acquirer and independent sales organization (ISO), to offer wireless, high-speed credit card authorization services via USWD's Synapse(sm) platform.
U.S. Wireless Data's platform will enable MSI to offer state-of-the-art wireless processing services to its merchants. A company that has experienced revenue growth of over 700% in the past two years, MSI is projecting a substantial increase in wireless merchant accounts. MSI, by utilizing Synapse(sm), will be able to provide more services to their existing wireless clients as well as being able to provide a full service solution to new clients, who wish to benefit from the speed and mobility that U.S. Wireless Data can provide.
MSI will sell U.S. Wireless Data's wireless solutions through its sales force of approximately 700 sales representatives across 75 offices nationwide. The company targets small to mid-sized merchants, currently serving approximately 60,000 merchants. MSI is one of the largest independent sales organizations of Global Payments Inc. (NYSE: GPN - news), a leading provider of payment and electronic commerce solutions, and one of the largest card transaction processing companies in North America.
``We are excited to be working with MSI to provide wireless credit card services to the important market of small and mid-sized merchants,'' said Dean M. Leavitt, Chairman & CEO of U.S. Wireless Data. ``Many of the key merchant categories for wireless are in this segment of the market--such as towing services, movers, restaurants, locksmiths, taxis and limos. We are confident that U.S. Wireless Data will provide a superior wireless solution to MSI's merchants.''
``U.S. Wireless Data prides itself on providing the most advanced wireless terminal technology in the bankcard industry today,'' said Ray Sidhom, President and CEO of MSI. ``This relationship will help MSI to provide more services to our current merchant base as well as potential new merchants. Synapse's online, real-time transaction reporting capability will provide valuable information to help our merchants better manage their businesses. Utilizing U.S. Wireless Data's Synapse platform, we expect to sign up approximately 2,500 wireless merchant accounts annually.''
``Global Payments Inc. is excited about the new opportunities that U.S. Wireless Data's wireless platform opens up to us,'' said Vaden Landers, Managing Director, ISO Line of Business, for Global Payments Inc. ``We are pleased to offer Synapse through our independent sales organization, MSI, to meet the growing demand for wireless services.''
In August 2000, Global Payments Inc. announced a two-year transaction processing agreement to offer wireless, high-speed credit card authorization services utilizing U.S. Wireless Data's Synapse platform, to new and existing merchants of Global Payments through its network of banks and acquirers.
About U.S. Wireless Data, Inc.
U.S. Wireless Data, Inc. (www.uswirelessdata.com), founded in1991, markets proprietary technology that brings together three large, rapidly growing industries - transaction processing, wireless data transport and the Internet - to enable wireless payment processing. The company's Synapse(sm) platform provides a gateway among all of the parties within a wireless point-of-sale (POS) transaction. This enables businesses that require mobility (i.e., not tethered to a telephone line), or fixed-location business that seek faster transaction speed, to accept wireless point-of-sale payments. By providing a seamless interface among merchants' POS terminals, wireless carriers and card processors, credit, debit and other card transactions can be processed as fast as cash, without the cost and inconvenience of a telephone line. In addition, Synapse's Internet-based tools offer on-line, real-time transaction monitoring, remote diagnostics and automated terminal activation. The company is headquartered in New York City.
About Merchant Services Inc.
Merchant Services Inc. (www.gotomsi.com), located in Plainview, NY, was founded in 1989. MSI has 75 offices nationwide and approximately 700 sales representatives. The company targets small to mid-sized merchants, and currently serves approximately 60,000 merchants. MSI's revenues have grown close to 700% over the past two years. For yearend 2000, MSI is projecting approximately 3 billion in processing volume and approximately 60 million in transaction volume. In the past year, MSI has completed 7 portfolio acquisitions.
About Global Payments
Global Payments Inc. (NYSE: GPN - news; www.globalpaymentsinc.com) is a leading provider of electronic transaction processing services to merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations. Global Payments offers a comprehensive line of payment solutions, including credit and debit cards, business-to-business purchasing cards, gift cards, check guarantee, check verification and recovery, terminal management, and funds transfer services. |
