Innovative Processing Solutions to Consolidate Card Products under Transcard Brand: Transcard Name to Reflect the Momentum in the International Transaction and Pre-Paid Card Business

Innovative Processing Solutions (IPS) consolidates separate card products under a single Transcard brand.

CHATTANOOGA, Tenn. (BusinessWire EON) February 22, 2007 -- Innovative Processing Solutions (IPS) consolidates separate card products under a single Transcard brand.

The Transcard brand reflects our future and growth markets. We are witnessing an evolution of our business model and are moving into wholesale transaction processing, as well as, international payment and remittance services. Our business is built on a card platform to serve clients with transactional processing. We believe our new brand image reflects this.

Craig Fuller, CEO of IPS stated, “The Transcard brand reflects our future and growth markets. We are witnessing an evolution of our business model and are moving into wholesale transaction processing, as well as, international payment and remittance services. Our business is built on a card platform to serve clients with transactional processing. We believe our new brand image reflects this.”

IPS will stop marketing products under the Innovative Processing Solutions name and will focus on building the Transcard brand. The company owns the Transcard.com website and all transaction processing products will fall under the Transcard banner.

Transcard will offer a number of stored-value products including Cheque Directo, an electronic payroll and international money transfer card marketed to Hispanic populations, PayCheck Direct a payroll card that can be funded through any existing direct-deposit process, and Transfund$ a fuel, cash, and payroll card offered to the trucking industry. These cards are existing products of IPS that will be consolidated into the new Transcard brand portfolio.

Companies are using the Transcard debit products to pay employees and agents both domestically and internationally. The payroll card product is easy to fund and uses existing direct-deposit ACH services to load money on the card. For companies that need to pay agents or employees overseas, the Transcard products are easy to load and use global ATM and POS networks for funds distribution.

Employers see the value in payroll cards and want to adopt a platform that is easy, simple, and efficient to use. Employers are increasingly enrolling their employees into Transcard’s payroll card products and companies with global coverage are finding the card products to be the best way to pay their international associates.

For more information on Transcard please visit www.transcard.com

Transcard offers electronic funds transfer services including direct-to-card payroll technology, electronic fuel and transaction processing, and global money remittance and payment services. Transcard focuses on the direct-selling, staffing, transportation, and service industries. Transcard provides electronic processing services specifically tailored to the trucking and payroll card industries. Transcard processes nearly $900 million dollars in electronic transactions per year. Transcard is based in Chattanooga, TN. For additional information, please visit www.transcard.com