Electronic Payment Exchange Names Maureen Loftus Vice President of Business Development and Product Strategy - EPX

Business Wire, Jan 23, 2001

Business Editors

NEW CASTLE, Del.--(BUSINESS WIRE)--Jan. 23, 2001

Electronic Payment Exchange (EPX), the nation's leading ePayment processing company, today named Maureen Loftus as the company's vice president of business development and product strategy.

Loftus will oversee EPX's Business Development, Strategic Alliance and Product Management divisions as well as leading the development of new distribution channels, partnerships and products for the company.

Previous to joining EPX, Loftus served as a vice president at FOLIOfn, the Internet-based personal investment fund service. While at FOLIOfn, she helped develop and manage the company's spectacular growth from three to over 150 employees and assisted in raising over $60 million in venture capital.

Prior to joining FOLIOfn, Loftus spent over two years with Cybercash, Inc., a leading provider of Internet payment authorization software. From 1996 to 1999, Loftus' efforts helped grow Cybercash's merchant services division to one of the industry's leaders. She also played a critical role in the company's acquisition of IC Verify.

"EPX has aggressive plans for 2001 and Maureen will be charged with overseeing some of our most critical functions. With a proven track record of success in the e-commerce and ePayment industries, I believe Maureen's addition to our organization will prove invaluable," said Ray Moyer, chief executive officer, EPX.

Previous to CyberCash and spanning 15 years, Loftus held various executive positions at iQuantic, Inc., Dublin Group, CSC Index and Sibson & Company. Loftus holds a master's degree in Management from Kellogg Graduate School of Business at Northwestern University and a Bachelor of Science in Business Administration from Washington University.

About EPX

Founded in 1979, EPX is a full-service ePayment processing company, which specializes in enabling online businesses to accept both credit card and electronic check transactions. Notable EPX milestones have included: processing the first Internet credit card and electronic check transactions, developing the first real-time transaction reporting website and creating the first merchant financial risk transfer processing guarantee for banks. EPX has a vast array of clients, from small businesses to Fortune 500 companies, such as DuPont, Verizon Wireless and Metrocall, and currently processes over $4 billion in Internet transactions a year.

For more information, please visit on the Web at www.epx.com