BankServ Acquires Assets of Commerciant

SAN FRANCISCO, CA -- (AllPayNews) -- 05/04/09 -- BankServ, worldwide experts in electronic payments, announced today that it has acquired the assets of Commerciant, a provider of mobile, handheld payment processing hardware and processing technology located in Houston, Texas. The acquisition includes key patents in the mobile payments industry.

Commerciant's Mobilescape® wireless payment system can execute credit card and check transactions anyplace in the U.S. where a wireless phone signal is available. Mobilescape® technology is deployed in a variety of markets, including airlines, ground transportation, residential repair services, food services and mobile merchants.

The acquisition of Commerciant's assets strengthens BankServ's portfolio of electronic banking systems for financial institutions and businesses:

-- Integration of the Mobilescape® technology with BankServ's
DepositNow® product will create the industry's first system that can
process and manage payments made by paper check, credit card or electronic
check anywhere a merchant does business: the office, the Internet, or from
employees in the field.
-- Commerciant's existing agent and ISO relationships provide BankServ a
wide and proven channel to increase the penetration of BankServ products,
and will give those reseller organizations powerful new ways to increase
their sales.
-- To BankServ's existing bank partners, Mobilescape technology
represents a powerful, new tool to attract business deposits and increase
recurring revenue while improving the services provided to business
clients.

"This acquisition gives BankServ a complete suite of products that enables businesses to collect payments however they touch their customers -- in the office, on the Internet or even at their customers' homes," said David F.
Kvederis, BankServ's president and CEO. "The assets of Commerciant transform BankServ's technology into a powerful platform for taking just about any kind of payment -- anywhere. And, using our extensive integration with accounting software such as QuickBooks® and Peachtree®, businesses can receive, post and reconcile payments with unprecedented speed and convenience."

Since 2004, BankServ's DepositNow solution has enabled businesses to securely deposit check payments right from their desktop to any bank account while automatically updating their accounting records. Last year, DepositNow added the capability to accept credit card and electronic check payments at a customized and hosted Web page, along with secure "click-to-pay" e-mail invoicing to customers for faster collection and convenience. DepositNow remains the only solution that can automatically match payments to customers and invoices within popular bookkeeping programs such as QuickBooks® and Peachtree®.

About BankServ

Since 1996, BankServ has been developing and delivering electronic payments technology for financial institutions across the globe, including systems for Fedwire, SWIFT, person-to-person payments and Check 21. More information about privately held BankServ can be found at www.bankserv.com : .
DepositNow, the leading payment management solution for businesses of all sizes, is available through financial institutions across the United States and available directly at www.depositnow.com : .