NYCE Corporation and PayCast announced an arrangement that will offer PayCast’s technology platform to NYCE Network’s 2,200 financial institution Participants, which will enable real-time money movement between insured depository accounts at various NYCE institutions via wireless or wireline phone or Internet-based banking applications. PayCast currently is in the process of connecting to NYCE’s Enhanced Message Structure (EMS) the payments processing infrastructure that enables such transactions and will be ready to process money transfer transactions for NYCE institutions, beginning in January 2003. Under the terms of the arrangement, NYCE financial institution Participants may contract with PayCast to enable their cardholders to initiate account-to-account transfers from their checking and savings accounts to other NYCE Network cardholder accounts via their institution’s e-banking and phone banking delivery channels. As NYCE financial institution Participants complete their EMS certification requirements, they can then offer their customers the advantage of completing these money transfer transactions in real time. PayCast’s technology platform will be seamlessly branded and integrated into a NYCE-participating institution’s current platforms and will require no additional infrastructure or third-party accounts. “PayCast’s relationship with NYCE will redefine the speed, convenience and accessibility of money movement with the financial institutions that cardholders already know and trust,” said Bobby Earthman, co-founder, PayCast. “NYCE’s Participants will have a competitive advantage through innovative and unique technology that will allow their cardholders to use personal computers and wireless or wireline phones to transfer money in real time.””NYCE and PayCast are at the forefront of enhancing the value and utility of real-time payment applications for the financial services industry,” said Neil F. Axe, director of emerging Network payments at NYCE. “PayCast provides a key technology solution that institutions will be able to brand and integrate into existing services, and NYCE provides the reliable, secure infrastructure for which we are best known. It’s a winning combination for both NYCE Participants and their respective cardholders.”About PayCast PayCast seeks to provide financial institutions and partners with instant money-transfer capabilities that put consumers in control of their money and help strengthen and broaden customer relationships. Empowered by PayCast technology, customers will be able to use wireless or wireline phones or the Internet to send money directly and immediately to those with an established bank account. The recipient then will have immediate access to transferred funds without the hassle of paper checks, payment clearance or overnight settlement. For billions of personal payments made each year, PayCast’s services and technology are designed to be fast, secure and available anytime, anyplace.Founded in 2001, PayCast is led by the same team that developed TradeCast, the first “point-and-click” trading software for the active day trader market. In April 2001, TradeCast became a wholly owned subsidiary ofAmeritrade Holding Corporation, a major online broker. PayCast is based in Houston. For more information about PayCast, visit [www.paycast.com].
About NYCE Corporation
NYCE Corporation is one of the leading electronic payments companies in the United States, providing financial institutions and retailers with shared network services for automated teller machines (ATMs), on-line debit point-of-sale (POS) and emerging real-time payment solutions. In addition to innovative product development, the company also provides processing services that support ATM management and monitoring services, debit card issuance and authorization solutions. NYCE’s strategic alliance with First Data Corporation (FDC) is a unique model for the industry that combines the strengths of both organizations through product development, service delivery and complementary national/ international reach. Comprising 2,200 financial institutions and retail ATM Participants, NYCE processes approximately 100 million transactions per month. NYCE Corporation is headquartered in Woodcliff Lake, NJ, and can be found online at [www.nyce.net].