iPay Technologies, My CU Services bring bill payment to CUs

Elizabethtown, Ky., July 14, 2009 -- iPay Technologies, the leading independent online bill pay provider for financial institutions, today announced that it has partnered with MY CUÒ Services, a subsidiary of Mid-Atlantic Corporate Federal Credit Union, to provide its bill payment product to all of the credit unions that use MY CU bill payment services. The partnership will combine the great service that members are accustomed to receiving from MY CU with iPay’s superior bill pay product.

“iPay's innovative products and exceptional customer service make them a great partner for our online bill payment service," stated Drew Kishbaugh, president and CEO, MY CU Services.

The partnership further advances iPay’s position as the market leader in bill payment service to community financial institutions. iPay currently provides bill payment services to over 2,800 financial institutions. An additional 800 financial institutions are under contract to begin service later this year, bringing the total number of financial institutions using iPay’s bill pay service to over 3,600. Of these 3,600, more than 1,600 of them are credit unions, putting iPay’s market share amongst credit unions with bill pay at over 51%.

“iPay has been dedicated to providing outstanding bill payment services to community financial institutions since its inception,” said Dana Bowers, founder and managing partner, iPay Technologies. “We are extremely pleased that MY CU Services, a leader among service providers in the credit union industry, has selected iPay as the best bill payment product for its members.”

“We continue to execute on our mission of providing best-in-class bill payment products to community financial institutions through our network of financial services partners. We are proud to now include MY CU Services amongst our network of over 50 financial services partners,” said Bill Ready, president, iPay Technologies.

About iPay Technologies

iPay Technologies is the leading independent provider of Internet bill payment services. Founded in 2001, iPay develops and fully supports consumer and small business online bill pay solutions for more than 2,800 financial institutions nationwide and in Puerto Rico. iPay offers exceptional customer service with a U.S. based customer service center of bill pay experts who resolve 9.5 of every 10 calls within the first five minutes. iPay offers a 99.93% payment success rate with more than 1,200,000 bill pay customers, and over 4,000,000 payments processed each month. The company is owned by Spectrum Equity Investors, Bain Capital Ventures, and management. More information about iPay is available at www.ipaytechnologies.com .

Source: Company press release.