The Company has signed a strategic agreement with Calnet Business Bank to integrate Calnets extensive electronic biller/merchant network into Payment Data Systems biller pay-anyone network. The Company has also finalized its bill-pay debit card application in preparation for Beta rollout next month. The agreement with Calnet provides linkage of Payment Datas bill-pay debit card network, as well as cash driven counter payments for bill-pay, into the Calnet payee (vendor/service provider) accounts. In those situations that a payee cannot accept an electronic payment directly from the Payment Data pay-anyone network, PDS will utilize Calnet to provide traditional check printing and mail services to those payees. Expected delivery of the bill-pay capabilities for debit card and counter payments into Beta customers is set for mid-June of this year.
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