Acies Launches Paperless
Payroll Solution for Employers
NEW YORK, Jan. 25, 2005 (PRIMEZONE) -- Acies Corporation (OTC
BB: ACIE), an emerging leader in payment processing and
electronic banking services to small and medium-size merchants
across the United States, today announced its paperless payroll
solution for employers. The program is specifically being
offered to employers that issue paper checks to the more than 30
million 'unbanked' employees in the country with no checking or
savings accounts.
The Acies Payroll Card Platform enables employers to issue
employee payroll cards, pay wages and check payroll history. The
solution is comprehensive and provides real-time management for
employers. It also offers value-added benefits, such as prepaid
health, dental and legal coverage. For employees, the solution
offers a personalized card with immediate access to funds, and
acceptability at millions of ATMs and storefronts nationwide.
Full reporting is also available to employees.
"Every week, millions of paper payroll checks are issued to
employees who do not have a checking or savings account,'' said
Oleg Firer, CEO of Acies. "Our paperless payroll solution makes
these funds immediately available to employees in the form of a
universally accepted VISA debit card that can be used at ATMs or
storefronts. For the employer, the reduced paper cost, real-time
information availability, and detailed reporting provide
significant cost savings and efficiency improvements and with no
monthly or recurring fees assessed to the merchant.''
About Acies Corporation
Acies, Inc. ("Acies''), a wholly owned subsidiary of Acies
Corporation, is a financial services company that specializes in
payment processing services and online banking services to
small, medium- and large-size merchants across the United
States. Acies' payment processing services enable merchants to
process Credit, Debit, Electronic Benefit Transfer (EBT), Check
Conversion and Gift & Loyalty transactions. Acies also offers
traditional and next-generation point-of-sale ("POS'')
terminals, which enable merchants to utilize Acies' payment
processing services. Acies' banking services offer customers
traditional banking services, ability for customers to apply for
an on-line bank account and pay bills electronically.
For more information, visit http://www.aciesinc.com
Forward-Looking Statements
"Safe Harbor'' Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity
and access to public markets, operating expense reduction, and
trends in the industry in which the Company operates. The
forward-looking statements contained in this press release are
also subject to other risks and uncertainties, including those
more fully described in the Company's filings with the
Securities and Exchange Commission. The Company assumes no
obligation to update these forward-looking statements to reflect
actual results, changes in risks, uncertainties or assumptions
underlying or affecting such statements, or for prospective
events that may have a retroactive effect.
Contact:
Acies Corporation
Oleg Firer, CEO
212-931-5188
oleg@aciesinc.com
