Press Release

BANKSERV AND ECREDIT.COM FORM STRATEGIC ALLIANCE TO DEVELOP ONLINE PAYMENTS SUITE FOR B2B E-COMMERCE

Alliance Will Fill Gap in E-Business Marketplace

May 24, 2000 - SAN FRANCISCO, CA - BankServ today announced it has signed an agreement with eCredit.com to form a strategic partnership. The two companies plan to integrate their services into a one-stop suite of real-time online payment and financing options for business-to-business exchanges and business-to-consumer merchants.

eCredit.com is a leading provider of real-time credit, financing and receivables solutions for B2B and B2C eCommerce. BankServ is a leading provider of payment solutions for online businesses, retailers and financial services companies.

"We believe that together eCredit.com and BankServ can fill a major gap in the e-business marketplace by enabling e-merchants and B2B exchanges to seamlessly access the broadest set of financing, payment and settlement choices across all different transaction scenarios," said Peter McKay, president of eCredit.com, based in Dedham, Mass.

"eCredit.com has brought credit decisioning options to eBusinesses, providing them with a variety of financing solutions not available previously on the Internet," said Dave Kvederis, founder and CEO of San Francisco-based BankServ. "BankServ adds settlement options, such as Internet checking, purchasing cards and wire transfers, and the functionality to go with those to execute and track payments swiftly and securely. With this alliance, we are taking another important step in the evolution of e-commerce."

According to Kvederis, a cash management pioneer who helped build the country's private automated clearing house (ACH) system, the two companies will work together in three ways.

"First, we will integrate the eCredit.com Global Financing Network™ into BankServ's suite of online payment solutions," said Kvederis. "Next, we will explore ways to integrate our two companies' services to create a combined suite of credit decision and payment options for online businesses, one that we can both offer."

Third, Kvederis said that BankServ and eCredit.com will work together on sales and promotion efforts, sharing customer opportunities and marketing campaigns.

"To date, B2B exchanges have mostly handled payments and settlements offline," said Cory Gaines, vice president in charge of BankServ's Internet strategic alliances. "Most exchanges would clearly benefit from an alliance between an experienced payment processor, like BankServ, and a leader in enabling real-time credit and financing services for eBusinesses, like eCredit.com. eCredit.com has sped up major credit decisions to mere minutes and significantly enhanced transaction liquidity and the value-added service offerings of B2B exchanges. Together, we believe we can help B2B step up to the next level."

According to Gaines, who recently joined BankServ from Visa USA, BankServ's Internet check and its Internet wire transfer product will be ready for launch within 60 days. BankServ's Internet check, he said, is 80 percent less expensive to merchants than processing credit card transactions, and just as reliable. "Reliability," said Gaines, "is the most important element in the transfer of funds."

About eCredit.com

eCredit.com is a leading provider of credit, financing and receivables management solutions for business-to-business and business-to-consumer commerce. Its software solutions and services run on the eCredit.com Global Financing Network, an Internet-based platform that connects businesses to financing partners and global information sources in real time at the point-of-sale. eCredit.com is headquartered in Dedham, Mass. For additional information, visit eCredit.com on the Web at www.ecredit.com.

About BankServ

Founded in 1996 by CEO Dave Kvederis, BankServ is one of the country's leading providers of payment solutions for online businesses, retailers and financial services companies. BankServ processes more than $1 billion a day in global and domestic wire transfers on behalf of more than 50 U.S. financial institutions. BankServ is also one of the nation's leading check conversion service providers to large and small U.S. financial institutions and to merchants.

The company's Internet payments division offers a new electronic check for Internet business built on the backbone of BankServ's secure, proprietary, brick-and-mortar check data-capture and ACH system. The Internet division also offers a full suite of settlement applications for both business-to-business exchanges and consumer-to-business payments, as well as reporting services for businesses on the Internet.

Headquartered in San Francisco, BankServ also maintains offices in Atlanta, Boise, Chicago, Dallas, New York, Las Vegas, and Lafayette, Louisiana.

The eCredit.com logo and eCredit.com Global Financing Network are trademarks of eCredit.com.

###