Press Release

BankServ Contributes New Approach To University Donations

February 27, 2003 - SAN FRANCISCO, CA — There's a whole new way to make contributions to higher education these days. It used to be that you waited for a donor pledge card to come in the mail — then sent a paper check, handed over some cash, or perhaps gave someone a credit card number to complete the donation. That's the old way of doing it.

A San Francisco-based electronic payments company has come up with an interesting new approach to University giving. It was developed by BankServ Inc. (www.bankserv.com), a privately held company that normally builds and runs sophisticated wire transfer and ACH (Automated Clearing House) systems to move billions of dollars electronically each day for many of the nation's largest banks, Internet billers, credit card companies, tax collectors, mortgage companies, and a variety of other businesses.

BankServ's new method for charitable giving involves one of its latest products known as SameDayPay.com. "What this product does," says Dave Kvederis, CEO of BankServ, "is to provide a donor with an easy, safe, and secure way to make an electronic transfer from his or her checking account to a favorite university over the phone or via personal computer. We may even see payments for tuition, books and fees made this way," Kvederis adds. "It's already possible for a person to use SameDayPay.com to make mortgage, credit card, and utility payments."

The way this product works, says Kvederis, a donor simply registers on-line at www.SameDayPay.com, chooses a user ID and password, then registers the checking or savings account from which the payment will be made. The school, which also has registered with SameDayPay.com, is notified the same day the payment is made, and the donor is likewise notified. No pledge cards. No cash. No checks. No credit cards.

How this new concept for charitable giving came about is an interesting story in it own right. During the several months of SameDayPay.com product development, Kvederis, whose son was attending Saint Mary's College in California, wanted to make a donation to the school. After some discussion with Lisa Moore, Director of the Annual Fund at Saint Mary's, both agreed that the College would be an ideal test for BankServ's SameDayPay.com product.

Ms. Moore has had her team using the service for the last couple months. "We've been pleasantly surprised by how easy it's been to integrate this donation option into our existing processes" says Moore. "With eChecks, more of each gift goes to the school and more quickly. We're finding that once a donor experiences how simple the process is, many actually increase the size of their contribution. The entire process is really quite convenient because a donor can make a contribution anytime and anywhere, and, after the transaction is completed, an e-mail confirmation is sent to both the donor and the school."

One of the most distinguished colleges in the West, Saint Mary's College has a reputation for excellence, innovation and responsiveness in education derived from its heritage as a Catholic, Lasallian Christian Brothers, Liberal Arts institution. The Liberal Arts tradition ensures that students develop habits of critical thinking and a desire for lifelong learning. Saint Mary's College can be found on the web at www.stmarys-ca.edu.