STRATEGIC PARTNERS
February 20, 2002
DALLAS -- Genpass Inc., operator of the MoneyMaker network, has signed a five-year contract extension to provide transaction processing and payment services with E*TRADE Access, Inc., a wholly owned subsidiary of E*TRADE Group, Inc. (NASDAQ:EGRP), and operator of one of the nation's largest off-premise ATM networks. Under the new agreement, MoneyMaker will serve up to 5,000 new E*TRADE Access ATMs over the next five years.
Genpass Inc. president and CEO Bipin C. Shah, called the partnership "a combination that industry leaders know they can trust." He added, "This agreement with E*TRADE Access signals our commitment to providing traditional payment services applications and to offering a wide range of applications based on new technologies and the Internet environment."
MoneyMaker also announced its international expansion with the signing of Bermuda Commercial Bank, Ltd., headquartered in Hamilton, Bermuda, and of First Curacao International Bank with headquarters in Curacao, Netherland Antilles.
The network will provide these commercial banks with EFT processing and with transaction authorization services for Visa Electron and MasterCard debit card products. MoneyMaker will also provide end-to-end support for a host-based rollout of stored value cards to selected global markets.
