Product: Pay-Ease PayStation
Company: Pay-Ease, Inc.

For consumers without bank accounts, paying bills can often be a hassle. Mount Prospect, Ill.-based Pay-Ease, Inc. is offering the 'unbanked' a convenient and secure way to make payments and conduct other financial transactions-all from one location that is accessible 24 hours a day.

Anyone can use a PayStation kiosk to pay a bill, but the products are targeted to customers who pay their bills in cash at payment centers or currency exchanges-by some estimates about 25% of people in the United States.

Pay-Ease's PayStation kiosks offer full-service ATM cash dispensing and banking functions such as deposits, transfers, check cashing and foreign money wire transfer services. The machines will accept personal and business checks and cash payments-no deposit envelope required. They also accept payments by credit, debit and smart cards. PayStation accepts bill payments for many major utility and other service providers including electric, gas, telephone, cell, cable, credit card, insurance, parking tickets, water bills, rent and other occurring monthly obligations.

Many of these types of payments take days to get posted to accounts, but Pay-Ease, Inc. said its payment transaction are updated hourly, so no more cancellations of services or bad credit marks from late or unpaid bills.

A convenience fee is added to the amount of the bill the consumer is paying, and then it is deducted from the payment Pay-Ease, Inc. makes to the biller (a services subscriber). Customer payments will appear on their statements.

Pay-Ease, Inc.'s payment processing systems and network are behind each PayStation ATM. Using the ACH, check payments become e-checks; the check's are truncated and returned to the consumer. A third party partner of Pay-Ease, Inc. processes credit/debit and cash payments.

ISOs and MLSs can add more transactions (and more revenue) to their overall transaction volume with a Pay-Ease PayStation at merchant locations such as grocery and convenience stores. They also have the option to own or lease PayStations and service the kiosks themselves, or contract through a third party.

Some of the features of the PayStation kiosks include a touch screen; multi-language support-customers can select instructions in English or Spanish; a currency acceptor (up to $100 bills); a check reader; a bar code scanner; cash dispenser for $20 bills-no change is given; a credit/debit/smart card reader; receipt dispenser-receipts print the date, time and amount that was paid in checks and cash; and a keypad.

In 2003, Pay-Ease signed a contract with the State of Illinois Department of Human Services to distribute Illinois Welfare Benefits. The company is also collecting payments for the City of Milwaukee.

Pay-Ease, Inc.
820 Heritage Drive
Mt. Prospect, IL 60056
1-866-PAYSTATION
www.pay-ease.com