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SHAZAM Makes Strategic Investment in Adaptive Payments

DES MOINES, Iowa Jan. 25, 2011 Fort Lauderdale, Fla.

Michael Hollinger

Shashi Kapur

September 2010

"Adaptive Payments has demonstrated their ability to work with us to tailor products to meet the needs of our financial institution partners," stated Hollinger. "Together we are expanding access for financial institution customers to multiple payment options through multiple channels, without sacrificing security or functionality."

"Adaptive Payments will benefit not just from SHAZAM’s financial investment, but also from their knowledge, experience, and reputation as a leading PIN debit network," said Kapur. "This will significantly enhance our ability to execute our core strategy to enable secure payment applications that are universally accepted by consumers, merchants, and PIN debit networks."  Kapur added, "Consumers expect that the channels and ‘device screens’ through which they interact, such as a lap top, desk top, mobile phone, or tablet, will provide the connectivity needed to enable easy, fast, safe, and secure commerce to occur irrespective of channels and devices. Adaptive Payments operates at the intersection of these channels to enable secure commerce to occur using its 5DSecure™ authentication platform."

About Adaptive Payments

Ft. Lauderdale, Fla. Bill Payment

About SHAZAM  

The SHAZAM network was founded in 1976 and is one of the last remaining member-owned and -controlled EFT networks and processors in the industry. SHAZAM offers ATM processing, debit and ATM card processing, card authorization services, merchant processing, Automated Clearing House (ACH) services, core processing, and information security solutions. SHAZAM serves 1,500 community financial institutions in 31 states.

SOURCE Adaptive Payments, Inc.

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