A Jettis / Paycom Announcement - Important Industry News
 

I am posting this announcement here and on other Webmaster boards on behalf of Paycom and with Jettis' permission. Replies will be from Kjell Petridis, Ken Lawson, Clay Andrews and / or me.

A Jettis / Paycom Announcement - Important Industry News

July 29, 2004, Marina del Rey, California? Paycom.net, LLC, a California based Internet Payment Service Provider (?IPSP?), announced today that it has completed the acquisition of certain credit card processing contracts from Jettis, Inc., another California based IPSP. The privately held companies did not disclose the details of the transaction. However, both company?s Officers commented on the transaction.

Christopher Mallick, CEO of Paycom commented, ?We are pleased to announce that we have completed the acquisition of Jettis? IPSP portfolio. This transaction brings to the marketplace the best services and systems available in online credit card transaction processing today and solidifies our role as an industry leader. We are also extremely proud to announce that Kjell Petridis and Ken Lawson have agreed to join Paycom exclusively as our IPSP Consultants. Kjell and Ken will assist Paycom and Jettis? former clients in migration to our platform and will ensure continuity in our operations.?

Ken Lawson, the Jettis CEO commented, ?Jettis has sold its IPSP business in the credit card processing space, on a going forward basis, to Paycom. We see this as a tremendous opportunity for our clients to go forward with a trusted leader in credit card processing services. We have been impressed with the quality of service Paycom provides to its clients and are confident that our clients will agree that this is a positive move. Jettis has seen very rapid growth in its ACH division over the last year and has recently developed several new technologies which will enable us to become leaders in that space. This transaction will allow us to focus 100% of our time and resources on our rapidly growing ACH and Credit Card Gateway services.?

Kjell Petridis, Jettis? President commented, ?Paycom?s Zero Reserve Policy will be considered an additional financial benefit to those Jettis clients that will now be processing through Paycom. Jettis will continue to provide ACH check processing and credit card gateway services to our valued clients.?

Clay Andrews, Paycom?s President commented, ?We at Paycom have always held Ken, Kjell and the entire Jettis operation in the highest regard. We are therefore very fortunate to be welcoming Ken and Kjell as integral members of Paycom?s IPSP team of Consultants. The combination of our mutual talents and expertise will strengthen the marketplace through a focused attention to specific areas of expertise.?

Joel Hall, Paycom?s Chief Technical Officer stated, ?Jettis? former clients will not have any technical issues to deal with, nor will there be any interruption in processing of new sales or recurring transactions. Our system is robust and scalable and the technical integration process has been seamless ? we are live now.?

Both companies confirmed that Jettis is still responsible for all aspects of any credit card transactions processed by Jettis prior to the date of sale to Paycom. Paycom and Jettis will continue to compete in the ACH check processing and credit card gateway markets. However, Jettis will no longer be an IPSP, as a condition of the sale.

Mallick further commented, ?We believe that both our clients and the payment card processing industry will view this as a positive development. Today?s announcement is one which ensures long-term success to our clients and continues to provide the marketplace with the excellent service and financial strength they have come to know and trust from both Paycom and Jettis.?

Press Inquiries should be directed to Rand Pate, Corporate Communications Director, Paycom.net, LLC by email to [email protected]

Nice!

Best of luck!

WOW Paycom is the major player in IPSP

I knew I made a good choice when I went with Paycom ;-)

marc

Now these are BIG news. Congratulations.

Congrats Chris :)

wow

Fuck!!!!

That sucks.. I liked Jettis!!

I have proudly been using Epoch/Paycom
since 1997!

Congratulations Chris.

What is jettis gonna do / be now?

Congrats Chris and Paycom:thumbsup :thumbsup

wow. that's big.

this looks like a good move - size matters when dealing with visa, and jettis and paycom together will have a better voice to represent the industry as a whole which is in all our interests

NO need to change links?


This is gonna be one LOOOONG thread!

The Best just got better !

Congrats Chris



.

this will be interesting.

I've been saying this for years.

Epoch/Paycom is the #1 processor and the biggest.

wow

Congradulations to Jettis and Epoch.

Paycom is now one huge company, will they be in Miami? What does that mean for people that are using Jettis?

Congrats Chris and Rand, a great acquisition :)
WG

what happens to everyone who was doing cascading with paycom and jettis :))))


Congrats Chris! Paycom all the way!!!

" Joel Hall, Paycom?s Chief Technical Officer stated, ?Jettis? former clients will not have any technical issues to deal with, nor will there be any interruption in processing of new sales or recurring transactions. Our system is robust and scalable and the technical integration process has been seamless ? we are live now.? "

bleargh. Now my secondary processor is my primary all over again...

:)

very big news, congratulations Chris and Paycom... :thumbsup

Congrats..paycom is our primary processor for a reason :thumbsup

very skinteresting-= I am curious to see how it plays out

Congratulations Chris!

xoxo

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Good Question!

Dax,

Paycom specializes in the IPSP (third party) business and we feel they are the best in the industry at what they do. This is why we choose to trust them to service our valued IPSP clients on a going forward basis.

Jettis has always had a large portfolio of "gateway" clients whom we will continue to service.

In addition, Jettis has experienced rapid growth in it's ACH division over the past year. Due to some very strategic relationships and innovative technology, we have very big plans for our ACH business both in adult and mainstream. Our ACH and gateway business units will become a major focus for us.

Yes we need for you to change your links.

We have a temporary solution in place to transfer joins from Jettis join forms to Paycom. But this is only temporary.

Common Paycom/Jettis Clients - Please remove your links to Jettis Join forms and only use Paycom Join Form Links, this will obviously bypass the temporary solution. Once this is done you will not need to do anything else.

Jettis Clients New to Paycom - You will need to obtain your join form link information from our support staff. Replace your current Jettis links with Paycom links.

If you want to use our flexpost interface you can obtain the API from support.

Please emaiil [email protected] with your company name and site information. Support will also be able to provide you with your account login information.

Clay
EPOCH

Canadian checks, maybe?

I imagine that you will be sending out an email with our new user / pass ??? For the epoch support? Webmaster area?

That is even if we do not email support right now...

:)

Sounds great. I always thought both companies were very similar anyway. I imagine that because they are so similar the only change that is needed is the sign on the door.

Look out Ibill... ;)

Does Ibill even have a rep on this board?

Hey Chris, excellent work!:thumbsup

ARGH this is the worst news i've had in the last 5 years. Just great ARGH :feels-hot

Excellent news!
This will be great when more battles with the major CC's take place. Large companies have much more pull than a bunch of small processors together. :thumbsup

bump

http://www.xbiz.com/

for added scoop

Well congrats to ken and chris for puttin it all together !

You guys are both leaders and I do biz with both of you !