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Chase Merchant Services and Peppercoin Sign Referral AgreementWALTHAM, Mass. --(Business Wire)-- Jan. 10, 2005 -- Relationship Validates Peppercoin's Small Transaction Suite as Leading Solution for Processing Sub-$20 Transactions Peppercoin, a payments company that enables profitable, new business models for low-priced digital content and physical goods, today announced an alliance with Chase Merchant Services, LLC, the nation's largest merchant acquirer. With Peppercoin's Small Transaction Suite, Chase's merchant customers can capitalize on the growth of electronic small payments and increase revenues and profits via the sale of low-priced goods and services. Importantly, Peppercoin's Small Transaction Suite provides digital, mobile and physical POS merchants with the flexibility to implement a variety of business models to best meet their needs. "This agreement is a significant milestone for Peppercoin, as the nation's largest acquiring bank recommends our solution to drive their expansion into the rapidly growing small-payments market," said Mark Friedman, president of Peppercoin. "Merchants are eager to grow revenue by tapping into the small-dollar transactions market, and we expect that Chase's recommendation of our joint solution will drive a significant increase in transactions through Chase Merchant Services." Significant Market Opportunity According to the Tower Group, total U.S. consumer transactions below $5 at the physical point of sale in 2003 represented $1.32 trillion. Converting these cash transactions to credit and debit card payments is a highly attractive growth opportunity for merchants in the vending, convenience, grocery and quick-service restaurant industries. With the Peppercoin Small Transaction Suite, Chase Merchant Services--along with card associations, banks, payment processors and merchants--can capitalize on these emerging markets. Chase Merchant Services--which serves the e-commerce, retail and small business industries--processes 4.3 billion transactions annually, translating to an annual revenue stream of $295 billion. The Peppercoin Small Transaction Suite provides a transparent and scalable interface that easily integrates into existing payments networks. Peppercoin accepts preferred credit and debit cards - including Visa and MasterCard - and complies with the rules and regulations of the credit card associations to securely support a variety of business models. About Chase Merchant Services, LLC Chase Merchant Services, LLC, is the nation's largest merchant acquirer and the provider of Internet-based solutions for merchants. The company can be reached on the Web at www.chasemerchantservices.com. Chase Merchant Services is a joint venture between First Data Corp., the leading bankcard transaction processor, and JPMorgan Chase Bank. (NYSE: JPM), (www.jpmorganchase.com), a premier global financial services firm with assets of $741 billion and operations in more than 50 countries. For more information visit www.chasemerchantservices.com. About Peppercoin, Inc. Peppercoin enables profitable new business models for low-priced digital content and physical goods. Peppercoin's small payment products help merchants, banks, and other payments companies build market adoption quickly through a flexible, consumer-friendly approach. Peppercoin integrates easily with existing business models and systems to accelerate revenues and increase profits while dramatically lowering transaction and customer service costs. For more information visit www.peppercoin.com. All trademarks are the property of their respective owners. |
