International Payments Launches $150 Million Acquisition Plan

AmericaOne CEO to Direct New Company
SAN JOSE, Calif.--(Business Wire)--
A team of veteran merchant services executives, backed by over $150 million in
private funding, is setting out to expand a new company by acquiring independent
sales organizations that provide payment card processing services in the U.S.
and Canadian markets and the merchant card processing portfolios of financial
institutions.

International Payments Corporation (IPC), the new San Jose-based company, is
directed by David McMackin, a 15-year merchant services professional and
President and CEO of AmericaOne Merchant Services, Incorporated.

"While some merchant services acquirers are sitting on the sidelines in today`s
uncertain economy, IPC has a planned series of acquisitions well underway," says
McMackin. "IPC is targeting medium-sized merchant services companies that
provide credit, debit and other transaction processing services for merchants
and will announce its first acquisition soon."

IPC and its private equity partners believe the current economic environment
provides unique expansion opportunities for companies that have the capital and
can successfully engage and deploy it. In addition to purchasing card portfolios
from its target acquisitions, IPC will be partnering with select merchant
services companies by providing growth capital and sharing its proprietary
technologies and techniques that have proven to increase account sales and
merchant retention. The plan is designed to help keep talented owners and
executives from the acquired companies onboard by partnering with them and
sharing the future growth and profits of the company.

Over the last 15 years, McMackin has been developing and implementing
proprietary systems for managing merchant services businesses. He believes IPC`s
new acquisitions will benefit from innovative sales training, management and
support tools designed to be easily integrated and scalable to fit any size
business. These tools will facilitate growth while maintaining very low
attrition rates.

International Payments Corporation (IPC) is a national merchant services company
that delivers secure, scalable and reliable payment processing solutions to
small- and middle-market businesses, large corporations, governments, financial
institutions, and independent sales organizations. IPC processes electronic
payments between buyers and sellers, utilizing virtually any payment device or
form of electronic payment, including credit and debit cards, checks, and gift
cards. IPC currently provides service in the United States with more than 20
partner/regional sales teams. For more information, visit www.intlpay.com.

International Payments Corporation
Steven Lipp, 408-494-2426
slipp@intlpay.com

Copyright Business Wire 2009