Freedom Systems Joins MasterCard International's Bill Presentment and Payment Network to Expand Unattended Terminal Payments; Agreement Expands the Level of Billing Options for Customers

Business Wire, Sept 25, 2000

Business Editors

CHICAGO and PURCHASE, NY--(BUSINESS WIRE)--Sept. 25, 2000

Freedom Systems, a leading provider of e-payment hardware and software solutions, today announced an agreement that will provide access to MasterCard's Remote Payment and Presentment Service (RPPS) for its customers who access bills via unattended terminals in public locations.

Currently, customers access the terminals to pay their bills with a debit card. Now, customers will have increased access to billing information, including their account balances and history.

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 Freedom Systems' customers the ability to view their bills electronically through MasterCard's network.

"By leveraging MasterCard's existing payment relationships through its Remote Payment and Presentment Service (RPPS), this collaborative effort allows Freedom Systems' customers to receive greater access to bills than ever before," said Cathleen Conforti, vice president, Remote Payment and Presentment Service for MasterCard. "MasterCard's 14 years of experience, along with its proven payments network, risk management and customer service infrastructure, enable Freedom Systems to leverage MasterCard's expertise, customer base and market knowledge."

"Both Freedom Systems and MasterCard look for innovative ways to offer customers unique and flexible access to their bills. MasterCard's expertise and payments network have allowed for the natural expansion of our payment services, which will offer the customers we serve even greater flexibility than before," said Brian Spagat, CEO, Freedom Systems. "We're pleased to be a part of the MasterCard RPPS offering."

MasterCard started electronic payment processing in 1987 with the launch of its Remittance Processing Service (RPS). In March of 2000 MasterCard expanded its services adding bill presentment functionality. To reflect the enhancement, the program was renamed Remote Payment and Presentment Service (RPPS). By leveraging MasterCard's proven infrastructure, RPPS currently leads the industry in electronically processing remote consumer payments.

About Freedom Systems

Freedom Systems is the worldwide leading provider of unattended, online e-payment terminals and control systems for a variety of markets. Freedom Systems' terminals are designed to accept credit and debit cards, and/or cash and also offer detailed reporting and interfacing to accounting systems. Some of the markets Freedom Systems has developed and placed systems for include the petroleum industry and car washes, laundromats and apartment laundries, as well as apartment complexes and self-storage facilities for rent payment. Freedom Systems, Inc. is based in Chicago, IL can be reached at 1-888/537-8844 or through its website at www.freedomsystems.com.

About MasterCard International

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 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 www.mastercard.com.