For Immediate Release:


Date: October 28, 2002
Place: San Diego, California
Contact: Steve Eazell-Director National Sales and Marketing
Phone: 1-866-300-3376
Fax: 1-707-836-1979
Email: seazell@securepaymentsystems.com
Web www.securepaymentsystems.com


First Hawaiian Bank Chooses Secure Payment Systems for Processing of Check Services

First Hawaiian Bank to Switch Processing of E-Check Services and Eventually Entire Portfolio Risk to Secure Payment Systems (SPS)

First Hawaiian Bank, the state of Hawaii’s oldest financial institution, as well as one of the nation’s first electronic check conversion (POP) pilot participants, and Secure Payment Systems, Inc. (SPS), one of the nation’s leading check service providers and the only combination provider of both electronic check conversion and gift card services, are pleased to announce that they have reached an agreement and already initiated efforts for SPS to begin providing all authorization, terminal management, ACH settlement, and risk management services to FHB’s entire portfolio of electronic check conversion merchant customers. FHB has also decided to transfer the “guarantee” underwriting liability to SPS during the 4th Quarter. Additionally SPS will provide the bank and its merchant customers with SPS’ broad range of check and gift card-processing solutions.

“This is remarkable news. To associate ourselves with such a trusted and professional organization is indeed an honor,” stated Steve Eazell, Director-National Sales and Marketing for Secure Payment Systems. “We are elated to provide First Hawaiian with our highly evolved risk management systems combined with our flexible management style and unique orientation toward unusual attention to customer service detail.”

“We are pleased to be working with SPS, commented Gary Fujitani, Senior Vice President of the Business Services Division Services at First Hawaiian Bank. “We are extremely customer focused and believe that SPS caps off the need we have to provide the utmost in value to our base of merchant DDA’s. We look forward to a long and prosperous relationship.”

About Secure Payment Systems, Inc

Secure Payment Systems, Inc. (SPS) (www.securepaymentsystems.com) was founded nearly 6 years ago by Linden (Lin) Fellerman, former 20 year employee and 10 year President of the Telecredit / Equifax Check Services subsidiaries. With over 25 years of entrepreneurial achievement in transaction processing and risk management systems, Lin fosters a hands-on management philosophy resulting in what may arguably be the lowest merchant attrition rate in the industry. He attributes this success, and a 40% annual growth rate, to unprecedented customer service levels that begin and end with a philosophy that empowers sales agents and employees while rewarding and encouraging unusual attention to detail.

About First Hawaiian Bank

First Hawaiian Bank ($8.7 billion assets) (www.fhb.com) was founded in 1858 and is Hawaii’s oldest bank. It has 56 branches in Hawaii, three on Guam and two on Saipan. It is a subsidiary of BancWest Corporation, the largest Hawaii-based bank holding company, with assets of $33 billion.

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