Creditron Awarded Contract for Payments Processing Solution from Large Midwest Public Service Company

TORONTO, ON, July 27, 2009 – Creditron, today announced that it has been awarded a contract by one of the largest U.S. public service companies.  Creditron will provide the Midwestern-based utility with an image-based payments solution, including software, hardware and services. 

After an extensive evaluation of other payments solutions, the utility selected Creditron based on the feature-rich functionality of ItemAge Express, the ease-of-use of the system and the company’s ability to deliver an integrated payments processing and cashiering solution.

Creditron will provide the utility with its flexible and highly reliable ItemAge Express remittance processing solution, which will include components for courtesy and legal amount recognition (CAR/LAR), intelligent character recognition (ICR), MICR matching, hot files, and a remote teller/cashiering application that initially support 13 workstations.  ItemAge Express will export images into the utility’s existing Vignette application.  The hardware configuration will include the utility’s existing OPEX 7.5 with the image export module (IEM), plus two new OPEX AS180s with OPEX Model 51s, one OPEX 3690T, and two Canon CR180 II check scanners. 

“This agreement is an excellent example of how utilities can obtain substantial value by partnering with Creditron for their payments needs," said Doug Myers, vice president, sales and business development, Purepay.  "By streamlining the utility's payments operations, we will help them cut costs, become more flexible and scalable, and ultimately improve customer service. 

Today’s announcement comes fast on the heels of Creditron being awarded a contract for ItemAge Express from the City of Houston Water and Wastewater Utility, one of the top 10 U.S. utilities.  Creditron now counts well over 90 utilities across North America among its clients, ranging in size from small municipal utilities to some of the largest in the nation. 

About Creditron

Creditron, is a leading provider of payment processing, distributed capture, receivables management and electronic billing and payment solutions.  Its solutions combine industry standard operating systems and advanced imaging, scanning and data recognition technology to help financial institutions, businesses and other entities optimize operations performance and improve customer service.  The company’s over 360 North American customers process more than 400 million transactions annually, representing over $100 billion.  For more information, visit www.pure-pay.com.

About Purepay Capital

Purepay is a Columbus-based acquirer and operator of payments companies with a primary focus on automation and transaction processing within the financial services industry.  Purepay acquires growing companies, extends their existing capabilities, and accelerates organic growth with the intent of operating the companies long-term.  The firm targets a broad set of payments and transaction processing capabilities within the financial services industry.  For more information, please visit Purepay at www.purepaycapital.com.

For more information regarding this release, or to arrange interviews with company management, please contact:

Doug Myers
VP Sales & Business Development
Purepay
Receivables Automation
800-704-8777
dmyers@pure-pay.com