:: Epoch News / A Jettis / Paycom Announcement ::

rand · 07-29-2004

July 29, 2004, Marina del Rey, California… Paycom.net, LLC, a California based Internet Payment Service Provider (“IPSP”), announced today that it has completed the acquisition of certain credit card processing contracts from Jettis, Inc., another California based IPSP. The privately held companies did not disclose the details of the transaction. However, both company’s Officers commented on the transaction.

Christopher Mallick, CEO of Paycom commented, “We are pleased to announce that we have completed the acquisition of Jettis’ IPSP portfolio. This transaction brings to the marketplace the best services and systems available in online credit card transaction processing today and solidifies our role as an industry leader. We are also extremely proud to announce that Kjell Petridis and Ken Lawson have agreed to join Paycom exclusively as our IPSP Consultants. Kjell and Ken will assist Paycom and Jettis’ former clients in migration to our platform and will ensure continuity in our operations.”

Ken Lawson, the Jettis CEO commented, “Jettis has sold its IPSP business in the credit card processing space, on a going forward basis, to Paycom. We see this as a tremendous opportunity for our clients to go forward with a trusted leader in credit card processing services. We have been impressed with the quality of service Paycom provides to its clients and are confident that our clients will agree that this is a positive move. Jettis has seen very rapid growth in its ACH division over the last year and has recently developed several new technologies which will enable us to become leaders in that space. This transaction will allow us to focus 100% of our time and resources on our rapidly growing ACH and Credit Card Gateway services.”

Kjell Petridis, Jettis’ President commented, “Paycom’s Zero Reserve Policy will be considered an additional financial benefit to those Jettis clients that will now be processing through Paycom. Jettis will continue to provide ACH check processing and credit card gateway services to our valued clients.”

Clay Andrews, Paycom’s President commented, “We at Paycom have always held Ken, Kjell and the entire Jettis operation in the highest regard. We are therefore very fortunate to be welcoming Ken and Kjell as integral members of Paycom’s IPSP team of Consultants. The combination of our mutual talents and expertise will strengthen the marketplace through a focused attention to specific areas of expertise.”

Joel Hall, Paycom’s Chief Technical Officer stated, “Jettis’ former clients will not have any technical issues to deal with, nor will there be any interruption in processing of new sales or recurring transactions. Our system is robust and scalable and the technical integration process has been seamless – we are live now.”

Both companies confirmed that Jettis is still responsible for all aspects of any credit card transactions processed by Jettis prior to the date of sale to Paycom. Paycom and Jettis will continue to compete in the ACH check processing and credit card gateway markets. However, Jettis will no longer be an IPSP, as a condition of the sale.

Mallick further commented, “We believe that both our clients and the payment card processing industry will view this as a positive development. Today’s announcement is one which ensures long-term success to our clients and continues to provide the marketplace with the excellent service and financial strength they have come to know and trust from both Paycom and Jettis.”

Press Inquiries should be directed to Rand Pate, Corporate Communications Director, Paycom.net, LLC by email to rand@paycom.net

pushpills · 07-29-2004

Paycom is taking over.

Next stop ccbill?

Mike AI · 07-29-2004

I am happy for the owners of Jettis. It was a great move on their part, cashing out and not having to worry about major headaches. Epoch has really turned things around, they are the Lance Armstrong of the porn biz.

However it hurts the industry. There are only 2 1/2 ( IBill only counts as 1/2) 3rd party processor left.

Jettis was the most conservative, tightly ran of the group - which is something I appreciated.

I guess it was only a matter of time consolidation started occuring. This will be the theme of the next few years.

sharky · 07-29-2004

I agree MikeAI.

Great for Ken & Kjell. Epoch has done what some saw as impossible... there was a lot of talk about them going the way of DMR.

Is this a new sign of consolidation in the IPSP market? Who is next?

Mike AI · 07-29-2004

Who is the big winner and big losers for this?

I think big winner is CCBill. They will get a lot of business. Many people had Jettis/Epich as primary/backup - lots of people will be scrambling for back up processing.

There is also a core group of people who do not like dealing with Epoch and have never forgiven them for past problems - they too will flock to CCBill.

The big losers, is the industry in general. Some people are saying this gives Epoch more muscle to negotiate with banks and VISA - this is a good point - but diversity is important as well.

We learned our lesson about putting all of our eggs in one basket when DMR went down, so we always tried to balance our processing. This consolidation hurts those who deal with risk management.

RawAlex · 07-29-2004

The dance floor gets smaller...

Alex

Rolo · 07-29-2004

Would have liked to see Jettis in the game, but the powers above have changed the climate, so its logic for 3rd parties to consolidate, and I´m happy it is Epoch who are leading the way.

Good luck to Epoch and Jettis in their future business

gonzo · 07-29-2004

I wonder if this means Ill get my sites approved faster now?
And do I go thru the jettis or Paycom interface?

Mike AI · 07-29-2004

Quote:

Originally posted by RawAlex@Jul 29 2004, 03:38 PM
The dance floor gets smaller...

Alex

Floor is same size, the prom queen just got knocked up.

Only 3 single chicks left. One is missing body parts, another has a pet goat, and the other is a 300lb body builder.

Rolo · 07-29-2004

Quote:

Originally posted by Mike AI@Jul 29 2004, 01:06 PM
Only 3 single chicks left. One is missing body parts, another has a pet goat, and the other is a 300lb body builder.

They all sound like niches that would sell

Dravyk · 07-29-2004

Quote:

Originally posted by Mike AI@Jul 29 2004, 04:25 PM
I am happy for the owners of Jettis. It was a great move on their part, cashing out and not having to worry about major headaches. Epoch has really turned things around, they are the Lance Armstrong of the porn biz.

However it hurts the industry. There are only 2 1/2 ( IBill only counts as 1/2) 3rd party processor left.

Took the words right out of my mouth.

Congrats to all and yep, 2.5 left.

Hell Puppy · 07-29-2004

....and then there were 3.

actually, 2.5 does sound more like it.

guess we bet right, we've always had epoch and ccbill....and flipflop between 'em to try to distribute the eggs between both baskets.

i hope both continue to do extremely well, things get really hairy if one of them falls at this point. i like both. epoch may have just become an 800 pound gorilla. and although i raise an eyebrow at some of the sites ccbill has been found processing from time to time, i've gotta say they've never once been late with the check in all these years.

Mike AI · 07-29-2004

Something to think about. Epoch is on a 3 week delayed schedule for getting checks out. Jettis was paying weekly in real time.

From what I understand all Jettis customers will be moved to a 3 week delay. I wonder how many people will have a hard time with this 3 week float?

Billy · 07-29-2004

Big story right before Internext !!

Cannot wait to see Chris Mallick in Florida to see what they have planned !

JR · 07-30-2004

nice to see something like this rather than the typical "all is well, pay no attention to us as we slip out the back door with your money" that we have heard since Visa changed their rules.

Epoch has always been a class act.

07-29-2004	#1
rand Members Join Date: Nov 2002 Location: Marina del Rey Posts: 91	July 29, 2004, Marina del Rey, California… Paycom.net, LLC, a California based Internet Payment Service Provider (“IPSP”), announced today that it has completed the acquisition of certain credit card processing contracts from Jettis, Inc., another California based IPSP. The privately held companies did not disclose the details of the transaction. However, both company’s Officers commented on the transaction. Christopher Mallick, CEO of Paycom commented, “We are pleased to announce that we have completed the acquisition of Jettis’ IPSP portfolio. This transaction brings to the marketplace the best services and systems available in online credit card transaction processing today and solidifies our role as an industry leader. We are also extremely proud to announce that Kjell Petridis and Ken Lawson have agreed to join Paycom exclusively as our IPSP Consultants. Kjell and Ken will assist Paycom and Jettis’ former clients in migration to our platform and will ensure continuity in our operations.” Ken Lawson, the Jettis CEO commented, “Jettis has sold its IPSP business in the credit card processing space, on a going forward basis, to Paycom. We see this as a tremendous opportunity for our clients to go forward with a trusted leader in credit card processing services. We have been impressed with the quality of service Paycom provides to its clients and are confident that our clients will agree that this is a positive move. Jettis has seen very rapid growth in its ACH division over the last year and has recently developed several new technologies which will enable us to become leaders in that space. This transaction will allow us to focus 100% of our time and resources on our rapidly growing ACH and Credit Card Gateway services.” Kjell Petridis, Jettis’ President commented, “Paycom’s Zero Reserve Policy will be considered an additional financial benefit to those Jettis clients that will now be processing through Paycom. Jettis will continue to provide ACH check processing and credit card gateway services to our valued clients.” Clay Andrews, Paycom’s President commented, “We at Paycom have always held Ken, Kjell and the entire Jettis operation in the highest regard. We are therefore very fortunate to be welcoming Ken and Kjell as integral members of Paycom’s IPSP team of Consultants. The combination of our mutual talents and expertise will strengthen the marketplace through a focused attention to specific areas of expertise.” Joel Hall, Paycom’s Chief Technical Officer stated, “Jettis’ former clients will not have any technical issues to deal with, nor will there be any interruption in processing of new sales or recurring transactions. Our system is robust and scalable and the technical integration process has been seamless – we are live now.” Both companies confirmed that Jettis is still responsible for all aspects of any credit card transactions processed by Jettis prior to the date of sale to Paycom. Paycom and Jettis will continue to compete in the ACH check processing and credit card gateway markets. However, Jettis will no longer be an IPSP, as a condition of the sale. Mallick further commented, “We believe that both our clients and the payment card processing industry will view this as a positive development. Today’s announcement is one which ensures long-term success to our clients and continues to provide the marketplace with the excellent service and financial strength they have come to know and trust from both Paycom and Jettis.” Press Inquiries should be directed to Rand Pate, Corporate Communications Director, Paycom.net, LLC by email to rand@paycom.net __________________ --Rand Epoch Paycom Paycom EU

07-29-2004	#2
pushpills ¯¯¯¯¯¯¯¯¯¯¯ The global leader in pay-per-view AEBN Join Date: Jan 2004 Location: chicago Posts: 3,460	Paycom is taking over. Next stop ccbill? __________________ ...Almighty Content - Free feeds for your members area!... The internet is a great way to get on the net. -Bob Dole ...Remote Thumbs - Make your TGP work for you!...

07-29-2004	#3
Mike AI Administrator Want to see your own Advertising Here! Join Date: Oct 2002 Posts: 11,618	I am happy for the owners of Jettis. It was a great move on their part, cashing out and not having to worry about major headaches. Epoch has really turned things around, they are the Lance Armstrong of the porn biz. However it hurts the industry. There are only 2 1/2 ( IBill only counts as 1/2) 3rd party processor left. Jettis was the most conservative, tightly ran of the group - which is something I appreciated. I guess it was only a matter of time consolidation started occuring. This will be the theme of the next few years. __________________ Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month!

07-29-2004	#4
sharky Members Join Date: Oct 2002 Posts: 750	I agree MikeAI. Great for Ken & Kjell. Epoch has done what some saw as impossible... there was a lot of talk about them going the way of DMR. Is this a new sign of consolidation in the IPSP market? Who is next? __________________ Sharky Pimp Mansion :: Marketing and Program Director icq: 1242876 Promote Dating via API? Contact me for details! Promote Hornymatches at PimpMansion!

07-29-2004	#5
Mike AI Administrator Want to see your own Advertising Here! Join Date: Oct 2002 Posts: 11,618	Who is the big winner and big losers for this? I think big winner is CCBill. They will get a lot of business. Many people had Jettis/Epich as primary/backup - lots of people will be scrambling for back up processing. There is also a core group of people who do not like dealing with Epoch and have never forgiven them for past problems - they too will flock to CCBill. The big losers, is the industry in general. Some people are saying this gives Epoch more muscle to negotiate with banks and VISA - this is a good point - but diversity is important as well. We learned our lesson about putting all of our eggs in one basket when DMR went down, so we always tried to balance our processing. This consolidation hurts those who deal with risk management. __________________ Make big money on your Domains! Why wait 40 days to get paid with the other guys? Parked.com pays the most for your traffic, and cuts checks twice a month!

07-29-2004	#6
RawAlex Members $100 for every ImLive sign-up Join Date: Oct 2002 Posts: 4,036	The dance floor gets smaller... Alex __________________ Let's go to the edge of disaster Push the pedal and go a little faster Let's slam into a wall at ramming speed Let's go to the edge of a mountain Jump off and lets start countin' Hit the ground and tell me if it bleeds

07-29-2004	#7
Rolo Members Join Date: Dec 2002 Location: Six Feet Under Posts: 2,150	Would have liked to see Jettis in the game, but the powers above have changed the climate, so its logic for 3rd parties to consolidate, and I´m happy it is Epoch who are leading the way. Good luck to Epoch and Jettis in their future business __________________ "Chaos is the law of nature, order is the dream of man." ~Henry B. Adams (Historian) 1838-1918

07-29-2004	#8
gonzo Fat Fucking Nobody Want to see your own Advertising Here! Join Date: Apr 2003 Location: Atlanta,Ga. Posts: 17,795 Blog Entries: 11	I wonder if this means Ill get my sites approved faster now? And do I go thru the jettis or Paycom interface? __________________ We are putting the bastards of this world on notice; greed and corruption will always be met with "a voice made of ink and rage." "Never try and be like anyone else" - Hunter S. Thompson "The truth is the truth no matter how you try and package a lie" - Shellee Hale

07-29-2004	#12
Hell Puppy Fat Fucking Nobody Want to see your own Advertising Here! Join Date: Oct 2002 Posts: 6,523	....and then there were 3. actually, 2.5 does sound more like it. guess we bet right, we've always had epoch and ccbill....and flipflop between 'em to try to distribute the eggs between both baskets. i hope both continue to do extremely well, things get really hairy if one of them falls at this point. i like both. epoch may have just become an 800 pound gorilla. and although i raise an eyebrow at some of the sites ccbill has been found processing from time to time, i've gotta say they've never once been late with the check in all these years.

07-29-2004	#14
Billy Members Join Date: Oct 2002 Location: New Orleans ! Posts: 1,928	Big story right before Internext !! Cannot wait to see Chris Mallick in Florida to see what they have planned ! __________________ Did not know what to do with some old domains.. wow Parked made them make a little money : )

07-30-2004	#15
JR Members The global leader in pay-per-view AEBN Join Date: Jan 2003 Location: in my chair Posts: 3,320	nice to see something like this rather than the typical "all is well, pay no attention to us as we slip out the back door with your money" that we have heard since Visa changed their rules. Epoch has always been a class act. __________________