NEWS RELEASE
October 02, 2000
For Immediate Distribution
Electronic Financial Group Signs Agreement with Global eTelecom for Electronic Check Conversion
DESTIN, FL- Destin, Florida., Waco, Texas - Global eTelecom, of Destin, Florida, the national leader in Electronic Check Conversion (ECC), today announced that Electronic Financial Group (EFG), of Waco, Texas agreed to utilize the company's proprietary electronic check processing technology.
"We are very pleased that an industry pioneer like EFG has chosen us to provide their Electronic Check Conversion services. EFG has been providing cutting edge electronic payment processing services to our industry for well over a decade. EFG certainly has the respect of our industry due to their level of experience and services offered," said John H. Beebe, Chairman and Chief Executive Officer of Global eTelecom. "We have developed a great synergy with EFG, and we look forward to a long relationship with them."
"After looking at everyone in the industry from top to bottom, we chose Global eTelecom because of their innovation, integrity, and Electronic Check Conversion technology, which we found to be far superior to the competition," said Jerry Federico, President of Electronic Financial Group and a Sitting Member of The Electronic Check Council's Steering Committee. "Partnering with Global eTelecom will allow us to continue to deliver the high quality of innovative products and services that the industry has come to expect from us. "
About Global eTelecom:
Global eTelecom owns the first technology developed for electronically processing checks at the Point-of-Sale through the National Automated Clearing House Association.(NACHA) Global eTelecom provides its proprietary electronic check processing services to a National networks of banks, corporations, independent sales agents, national and local retailers, and credit card processors. Global eTelecom is a member of NACHA's Electronic Check Council. Global eTelecom's Electronic Payment Services include: Point of Sale Electronic Check Conversion, Electronic Payment Guarantee Services, Real Time Check Verification, Electronic Mail Order Checks, Electronic Telephone Order Checks, Lockbox Conversion, Recurring Debit, Electronic Represented Check Collection (RCK), Electronic Check Image Capture, and Web Based Check Image Retrieval. For more information on Global eTelecom, visit the company's Web site at www.globaletelecom.com
About Electronic Financial Group (EFG):
Electronic Financial Group, Inc. is a nationally recognized leader in the electronic payment industry. EFG has been originating electronic payments nationwide since 1988 and has unsurpassed experience for payment processing in the electronic arena. EFG is a member of NACHA's Electronic Check Council and has been instrumental in the development and implementation process for the rules that govern electronic payments nationwide. EFG was one of the first Internet Service Providers nationwide in 1995 to envision and develop electronic transactions systems for both business to business and consumer to business payments. EFG's Payment Services include: Electronic Tax Return Filing and Refund Processing for the Internal Revenue Service, Repetitive ACH Payments, Electronic Check Presentment of NSF Checks, Electronic Conversion of Mailed In Payments, Internet Based Payment Processing, Electronic Direct Deposit Payroll, Private Label Debit Cards, and Check Image Capture. For more information on EFG, visit the company's Web site at www.efg-waco.com.
Contacts:
Global eTelecom, Inc.
Michael J. Smith
Executive Vice President
Phone: (850) 650-8506
Fax: (850) 654-9311
E-mail: msmith@globaletelecom.com
Electronic Financial Group, Inc.
Jerry Federico
President
Phone: (254) 399-8888
Fax: (254 ) 399-8800
E-mail: jfederico@texnet.net