ePassporte and Paycom.net Owners Divide Business Interests

[Rand]

MARINA DEL REY, CA

The owners of ePassporte, NV, a pre-paid Visa card and Paycom.net, a leading processor of online payment transactions, have divided their business interests, the companies reported today.

Details and terms of the transaction were not disclosed. Both companies reported, however, that Christopher Mallick is now the sole owner of ePassporte and Joel Hall and Clayton Andrews are the sole owners of Paycom.net. Neither company’s business model will change.

Hall and Andrews, the original Co-Founders of Paycom.net, and Mallick, who joined the company later, had been business partners for five years.

Clay Andrews and Joel Hall issued a joint statement on behalf of Paycom.net, “We are pleased to announce that we have successfully completed a transaction that provides the individuals involved with their own separate and exclusive business and allows both companies to focus on core competencies and goals that are targeted to meet their respective clients' needs. We both wish the ePassporte team the best of luck.”

Christopher Mallick commented on behalf of ePassporte, “I am pleased to be able to focus my full attention on ePassporte and the many exciting opportunities the brand has to offer consumers. I look forward to working with the many associates, vendors and strategic partners much closer now. I am sure Paycom.net will continue to grow and prosper and will remain the industry leader in payment processing.”

Paycom.net will remain in their current offices in Southern California. ePassporte will have a representative office in Southern California, with its corporate headquarters and majority of its business activities remaining in Curacao. ePassporte’s sales and marketing operation is located in Toronto.

About ePassporte:

ePassporte sells pre-paid Virtual Visa and Visa Electron products to online consumers and offers a proprietary peer-to-peer network connecting businesses and individuals worldwide via the Internet. ePassporte is accepted everywhere that Visa is accepted and at PLUS ATMs worldwide. Visit www.epassporte.com for more information.

About Paycom.net:

Paycom.net is an Internet Payment Service Provider (IPSP). Paycom.net specializes in billing for subscription based Websites, password management, fraud prevention, customer service, and innovative marketing and retention tools. Visit www.paycom.net for more information.

[juggernaut]

This will be interesting to see how business changes now. I know they will say nothing will change but it's been my exp that whenever something like this happens things go bad. IE you had 3 guys who could turn to each other for advice on the direction of business. Or no one could make a move with out the others say so. Now that looks like its changed. Will be interesting to see how the service gets better or worse.

[Cleo]

I had no idea that they were even connected.

[juggernaut]

I just found out the other day. I was looking for a 2nd processor. But what pisses me off is the $750.00 for the visa. I don't think its fair that if you pay it one time you should have to pay it a 2nd time. Makes no sense to me. But thats how all of them do it. I have contacted Visa to see whats the deal with this. I mean if I paid Visa $750.00 as a high risk adult site why should I have to pay again for the same site with a back up processor.

[Adult Traffic]

Well, this sucks on a few levels. I can speculate on why or at least part of why, but I won't.

Epass has become one of my favorite payment methods for sponsors, traffic sales and P2P money and one of the reasons I've stuck with them is because of the 'backing by implication' that Paycom provided.

Now I'm worried a bit for me as well as for the future of Epass.

.

[digifan]

Sorry to see you leave ePassporte, Rand

[Certifiedbitch]

whoever the owner is i still hope ePassporte will serve their customers on its highest standards.