NeWave Partners With Payment Data Systems

NeWave will be utilizing the following PDS solutions for its wholly-owned subsidiary Onlinesupplier.com; IPS*CSRView, a web based application which allows Onlinesupplier customer service representatives to accept and enter ACH or payments taken from customers via telephone and IPS*Re-Debit Express, a process for handling and recovering NSF checks via electronic transaction resubmissions. Payment Data Systems President and COO Louis Hoch, stated, We estimate that our services will recover over $375,000 in unrealized revenue for NeWave during the term of our agreement. The recovery will come via PDSs unique reprocessing service for NSF checks whereby PDS electronically reprocesses the payments on the consumers payday or other control date and receives preference on funding over traditional check drafts. We are very pleased to have been selected by NeWave to provide the vehicle for the electronic payment solutions component in this very innovative approach to eCommerce. He added, We anticipate an approximate recovery rate of 80% which would also translate into about $360,000 in revenue for PDS over the one year term.