| Payformance Corporation and Skylight Financial® Fill a Void with Innovative Direct Deposit Solution |
| ---Unique Offering Provides an Account Based Solution for Individuals Who Do Not Have a Traditional Banking Relationship--- |
| Jacksonville, FL, April XX, 2003 - Payformance Corporation, a leading provider of B2B secure payment solutions, and Skylight Financial, Inc., a leading provider of account based direct deposit solutions, will work together to fill a void in corporate payroll strategies. |
| Through this partnership, Payformance will be a sales agent for Skylight Financial's account based, direct deposit solution. With this offering, corporations can provide an FDIC-insured, direct deposit account to employees who do not have a traditional banking relationship. |
| "Given our focus on B2B secure payment solutions, the Skylight® offer is a natural extension for us," said Dwayne L. McAfee, President and CEO of Payformance Corporation. Payformance provides software and outsourcing services that allow companies to process and distribute payments. "Many of our 3,000 customers already use us to make payroll payments," said Mr. McAfee. "With Skylight, we can give companies an option to eliminate paper checks for all their employees, even employees who do not have traditional bank accounts." |
| "We are excited about this new strategic partnership with Payformance," said O.G. Greene, Chairman and CEO of Skylight Financial, Inc. "Our account based financial services are a perfect compliment to the Payformance product suite, filling out a full spectrum of solutions for payroll payments." |
| The Skylight account is a pre-approved*, bank account that employees own. Employees get the benefits of a bank account in a card by having safe and convenient access to their money, monthly statements and the option of having features such as a Sub Account to transfer funds internationally without incurring expensive money transfer fees. For corporations, Skylight provides a path to achieve 100 percent direct deposit for payroll. Since Skylight administers the entire program, companies save time and reduce overall payroll costs. |
| "With the cost of payroll check generation and distribution estimated at $2.00 per employee per pay period, the immediate and compounded savings for most organizations can be significant," said Mr. Greene. "For example, a typical 1,000 employee organization with 30% direct deposit and weekly payroll could realize an annual savings of nearly $75,000." |
| About Payformance Corporation Payformance Corporation was the first company to combine hardware and software for a true turnkey solution to securely print MICR-encoded documents. Serving more than 3,000 customers, Payformance is a leading developer of business-to-business secure payment solutions for a variety of industries including: financial services, insurance, banking, state and local government, healthcare, and manufacturing. Application of the technology created by Payformance Corporation enables companies to smoothly migrate highly inefficient paper factories toward electronic payment fulfillment. For further information, contact Payformance Corporation-Phone: (904) 977-6777, Fax: (904) 997-8017, Email: sales@payformance.com, Corporate Jacksonville Headquarters: 10550 Deerwood Park Blvd., Suite 300, Jacksonville, Florida 32256. |
| About Skylight Financial, Inc. Skylight Financial, Inc., based in Atlanta, Georgia, is a leading provider of account based financial services for individuals who do not have a traditional banking relationship. Skylight offers its services nationally, and the company has a client base that includes employees of more than 60 of the Fortune 100 companies. All accounts are provided through Skylight's strategic partner, U.S. Bank, a subsidiary of U.S. Bancorp (NYSE: USB). The Skylight Financial Web site is www.skylight.net. The U.S. Bank Web site is www.usbank.com. |
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*Contingent upon identification verification |
| Information Contact: Michael Meredith Senior Vice President - Marketing and Product Development Skylight Financial, Inc. (404) 592-3633 mmeredith@skylight.net |