First Hawaiian Bank Chooses Secure Payment Systems for Processing of Check Services

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For Immediate Release:

Date: October 28, 2002
Place: San Diego, California
Contact: Steve Eazell-Director National Sales and Marketing
Phone: 1-866-300-3376
Fax: 1-707-836-1979
Email: seazell@securepaymentsystems.com
Web: www.securepaymentsystems.com

First Hawaiian Bank Chooses Secure Payment Systems for Processing of Check Services

First Hawaiian Bank to Switch Processing of E-Check Services and Eventually Entire Portfolio Risk to Secure Payment Systems (SPS)

First Hawaiian Bank, the state of Hawaii’s oldest financial institution, as well as one of the nation’s first electronic check conversion (POP) pilot participants, and Secure Payment Systems, Inc. (SPS), one of the nation’s leading check service providers and the only combination provider of both electronic check conversion and gift card services, are pleased to announce that they have reached an agreement and already initiated efforts for SPS to begin providing all authorization, terminal management, ACH settlement, and risk management services to FHB’s entire portfolio of electronic check conversion merchant customers. FHB has also decided to transfer the “guarantee” underwriting liability to SPS during the 4th Quarter. Additionally SPS will provide the bank and its merchant customers with SPS’ broad range of check and gift card-processing solutions.

“This is remarkable news. To associate ourselves with such a trusted and professional organization is indeed an honor,” stated Steve Eazell, Director-National Sales and Marketing for Secure Payment Systems. “We are elated to provide First Hawaiian with our highly evolved risk management systems combined with our flexible management style and unique orientation toward unusual attention to customer service detail.”

“We are pleased to be working with SPS, commented Gary Fujitani, Senior Vice President of the Business Services Division Services at First Hawaiian Bank. “We are extremely customer focused and believe that SPS caps off the need we have to provide the utmost in value to our base of merchant DDA’s. We look forward to a long and prosperous relationship.”


About First Hawaiian Bank

First Hawaiian Bank ($8.7 billion assets) (www.fhb.com) was founded in 1858 and is Hawaii’s oldest bank. It has 56 branches in Hawaii, three on Guam and two on Saipan. It is a subsidiary of BancWest Corporation, the largest Hawaii-based bank holding company, with assets of $33 billion.


About Secure Payment Systems  (www.securepaymentsystems.com)

Founded in 1996 and headquartered in Las Vegas, NV Secure Payment Systems ("SPS") provides fully redundant payment processing solutions to over 10,000 retail, lending, wholesale, and corporate endpoints across North America. SPS facilitates the transfer of value by providing businesses with a full range of transaction processing, reporting, and risk management tools so they may quickly and confidently accept payments, pay vendors, or transfer funds at the POS or on the WEB. These solutions include underwriting and guaranteeing eCheck transaction risk, deferred payment programs allowing consumers to stretch retail purchases up to 18 months, automated origination of recurring & one-time ACH debits and credits, electronic remote check imaging & deposit, gift & loyalty card processing, as well as internal and external third party database verification access for a complete POS risk management solution.


Secure Payment Systems Inc. | 3993 Howard Hughes Pkwy #390, Las Vegas, NV 89169 | www.securepaymentsystems.com | 702.701.8433
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