Date: October 15, 2005
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
 
Secure Payment Systems Announces Record Growth
 

SPS Reports Record 3rd Quarter and Year-To-Date Revenue and Earnings

Secure Payment Systems, one of the nation's leading payment service processors, is pleased to report that they have achieved record revenues by recording a 26% gain in the third quarter and 23% gain year-to-date. SPS directly provides a broad range of financial services including but not limited to POS-based check authorization, guarantee, and electronic conversion services, gift & loyalty transaction processing, WEB-based recurring payment software, and “cashless” payroll check cashing via SPS's proprietary “enCASH” ATM debit card.

These record revenues have contributed to substantial earnings gains that the company continues to use to fuel systems enhancements, growth of support infrastructure, and new product development aimed at third party POS systems integrations, enhancements to existing service offerings, and international initiatives.

"Naturally, we are delighted with the results to-date and only see the trend continuing", commented Lin Fellerman, President and CEO. "The merchant acquiring industry is recognizing a new reliance on value added services. Our unusually low merchant attrition rate, as well as a broad variety of product and service initiatives complemented by outstanding service levels, continue to bring us customers and sales agents at unprecedented rates.”

About Secure Payment Systems, Inc

Secure Payment Systems, Inc. (SPS) ( www.securepaymentsystems.com ) was founded in 1996 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 substantial 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.