CashPoint and MasterCard Enter Into Bill Presentment and Payment Agreement

Business Wire, May 9, 2000

Business Editors

NEW YORK and PURCHASE, N.Y.--(BUSINESS WIRE)--May 9, 2000

Agreement extends CashPoint biller customer base to include

MasterCard's network

CashPoint Network Services, Inc., a Biller Service Provider (BSP) and Customer Service Provider (CSP) and MasterCard International today announced they have entered into an agreement for CashPoint to access MasterCard's Remote Payment and Presentment Service (RPPS). This enables CashPoint to route bill presentment data from their clients through MasterCard's RPPS and to directly offer consumers access to all billers available on the RPPS network through CashPoint's Internet payment site TheWayToPay.com.

MasterCard's RPPS program provides participating financial institutions flexible connectivity to process transactions without capturing or storing consumer or biller relationship information. Through the agreement, MasterCard will act as a bill presentment and payment "hub," offering CashPoint clients the ability to present bills to customers through MasterCard's network.

By leveraging MasterCard's existing payment relationships through its Remote Payment and Presentment Service (RPPS), this collaborative effort allows the industry to reach a greater number of potential consumers than ever before. MasterCard's 14 years of experience, along with its proven payments network, risk management and customer service infrastructure, enable companies like CashPoint to leverage MasterCard's expertise, customer base and market knowledge. The full service offering is expected to be available to all banks, CSPs and BSPs in September 2000.

"By presenting our clients' bills through the MasterCard RPPS network, we give them maximum reach into the banking community and ultimately, to the consumers who pay these bills," said Judie Eisenberg, chief operating officer, Cash Point Network Services, Inc. "This is a new face to our present relationship with MasterCard, which already moves more payment data from CashPoint than from any other payment processor."

"This announcement is an extension of our existing bill payment agreement. It is a testament to our joint success that we can grow together to the next level of electronic payments," said Ruth Ann Marshall, president, North American Region, MasterCard International. "Relationships such as this are how our online payments network will reach `critical mass,' where the majority of our members will insist on managing their accounts online."

About MasterCard

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard(R), Cirrus(R) and Maestro(R) logos are present on credit, charge and debit cards in circulation today. An association comprised of 22,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com.

About CashPoint

CashPoint, headquartered in New York, is the nation's pre-eminent provider of bill payment services. The privately held company moves more than 2.1 billion dollars in bill payments - representing 19 million gas, electric, telephone, cable, municipal and credit card bills -- every year. Incorporated in 1992, CashPoint provides payment services via a network of in-person payment locations, via telephone (IVR) and via the Internet. Current clients include Con Edison, Bell Atlantic and the City of New York. Reach CashPoint on the Internet at www.cashpoint.net