DGAP-News: S1 Announces a Global Payments Processing Agreement With PayPal and Multiple Person-to-Person Wins
ID: 315041
14.12.2010 14:01
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NORCROSS, Ga., 2010-12-14 14:00 CET (GLOBE NEWSWIRE) -- S1 Corporation (Nasdaq:SONE), a leading global provider of payments and
financial services software solutions, today announced an agreement with PayPal
to develop and deploy payment solutions directly integrated into online and
mobile banking platforms.
To date, ten financial institutions have signed with PM Systems Corporation, a
wholly owned subsidiary of S1, to offer Person-to-Person Payments powered by
PayPal. The PayPal service allows consumers and businesses to make easy, fast
and secure payments directly from their bank accounts to almost anyone with a
mobile number or email address around the globe.
'We see person-to-person payments as a good opportunity to give our members
added convenience and to differentiate our institution in our markets,' said
Pete Paulson, CEO for Corporate America Family Credit Union, Elgin, Illinois.
'The integration with PayPal through S1 enables our credit union to meet our
goals of providing 24x7 mobile payment services that meet our members' needs.'
The integration with the PayPal solution allows consumers to quickly send money
to almost anyone with a mobile phone or email address by leveraging the PayPal
network. In order to send money, the sender needs only to log into online or
mobile banking, enter the destination email address or mobile phone number, and
transfer the money. If the recipient is one of the 90 million PayPal users, the
funds will be deposited instantly for verified accounts. If the recipient does
not have a PayPal account, prompts lead them to create one. Financial
institutions can tailor pricing for this new offering to generate fee-based
revenues.
'S1 is an innovator, offering its financial institutions and customers the
ability to use the PayPal network to deliver personal payments from existing
accounts with nothing more than a phone number and email address,' said Dan
Schatt, GM of Financial Innovations, PayPal. 'P2P creates tremendous
opportunities for financial institutions to offer valuable, differentiated
services to their customers.'
'The integration of mobile and online solutions from S1 with the PayPal network
continues to reinforce our commitment to help customers move money universally:
anytime, anywhere and from any channel worldwide,' said Pierre Naude, S1
Division President.
About S1
Leading banks, credit unions, retailers, and processors need technology that
adapts to the complex and challenging needs of their businesses. These
organizations want solutions that can respond quickly to changes in the
marketplace and help grow their businesses. For more than 20 years, S1
Corporation (Nasdaq:SONE) has been a leader in developing software products
that offer flexibility and reliability. Over 3,000 organizations worldwide
depend on S1 for payments, online banking, mobile banking, voice banking and
branch banking solutions that deliver a competitive advantage. More information
is available at www.s1.com.
Forward-Looking Statements
This press release contains forward-looking statements within the safe harbor
provisions of the Private Securities Litigation Reform Act. These statements
include statements with respect to our financial condition, results of
operations and business. The words 'believes,' 'expects,' 'may,' 'will,'
'should,' 'projects,' 'contemplates,' 'anticipates,' 'forecasts,' 'intends' or
similar terminology identify forward-looking statements. These statements are
based on our beliefs as well as assumptions made using information currently
available to us. Because these statements reflect our current views concerning
future events, they involve risks, uncertainties and assumptions. Therefore,
actual results may differ significantly from the results discussed in the
forward-looking statements. The risk factors included in our reports filed with
the Securities and Exchange Commission (and available on our web site at
www.s1.com or the SEC's web site at www.sec.gov) provide examples of risks,
uncertainties and events that may cause our actual results to differ materially
from the expectations we describe in our forward-looking statements. Except as
provided by law, we undertake no obligation to update any forward-looking
statement.
The S1 logo is a trademark of S1 Corporation. All other registered or
unregistered trademarks and service marks are the property of their respective
owners.
CONTACT: S1 Corporation
David Fontaine
404-923-6865
david.fontaine@s1.com
News Source: NASDAQ OMX
14.12.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: S1 Corporation
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US78463B1017
WKN:
End of Announcement DGAP News-Service
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