Fiserv and FSV Payment Systems Say PDQ e-Payroll Solution is Achieving Marketplace Success; Simplicity and Practicality Cited as Reasons

Business Wire, June 16, 2004

BROOKFIELD, Wis. -- Fiserv, Inc. (Nasdaq:FISV) said that in just over a month since its initial roll-out, the out-of-the-box payroll solution offered through FSV Payment Systems Ltd (FSV), called PDQ (Payroll Delivered Quick), is making its mark with financial institutions and payroll processors as a viable turnkey product that enables their clients to seamlessly and rapidly transition to an e-payroll solution.

Fiserv began marketing PDQ via its account management and sales teams to financial institutions and payroll processors in late April and early May - in an effort to address the burgeoning payroll debit card market, according to Frank Smeal, President of the Fiserv division that handles bank outsourcing services.

Financial institutions and payroll processors that offer PDQ to their commercial clients reap a revenue opportunity while providing an additional service.

"It makes sense that financial institutions would want to meet the needs of their clients whose only hesitation in transitioning to fully paperless payroll has been the misconception that it has to be a complex, time-consuming process," Smeal said. "At the same time, PDQ fits in nicely with most third-party processors' existing company mission, framework and product lineup, without requiring a great deal of planning or modification."

"The response to PDQ has been overwhelming," said Eric Miller, Chief Executive Officer at FSV. "The ease and rapidity of deployment are at the core of the product's success, and the financial institutions incorporating PDQ into their available line of products and services are realizing that it basically markets itself. PDQ also is the perfect solution for third-party resellers and payroll processors that want to offer expanded e-payroll options to their clients without having to deal with the intricacies of processing the transactions themselves."

In the last 30 days, 12 financial institutions, including Charter Bank in Bellevue, Washington, and United Bank in El Paso, Texas, have signed on to PDQ - and that "number is growing almost daily," Miller said. In addition, payroll processors such as Advanced Payroll and Atlantic Payment Systems are among those that have chosen to include PDQ in their featured services.

FSV Payment Systems offers a robust suite of unique, host-based stored-value and payroll debit card solutions direct to large employers and to financial institutions through an exclusive agreement with Fiserv, Inc. The FSV processing platform is both proprietary and configurable, allowing for the delivery of both standard and non-standard programs based on customer requirements. For more about payroll debit cards and the delivery of paperless payroll, go to the American Payroll Association Online Payroll Debit Card Resource Center at www.americanpayroll.org, and click the navigation button for FSV Paycard Info. For more about FSV, go to www.fsvpaymentsystems.com, www.paychekplus.com, or www.payrolldebitcards.com.

Fiserv, Inc. (Nasdaq:FISV) provides industry leading information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.