CASHNET® SMARTPAY IMPLEMENTED AT UNIVERSITIES FROM COAST TO COAST

FOR IMMEDIATE RELEASE

Alameda , CA , April 4, 2003 – Informed Decisions Corp.™ (IDC) today announced that its popular ecommerce payment service, CASHNet SmartPay, has been implemented at numerous universities and colleges from coast to coast. CASHNet SmartPay is an outsourced bill presentment and payment solution that allows institutions to collect payments from students and parents without adding the significant expense of hardware, software and credit card processing fees to already strained budgets.

“CASHNet SmartPay is designed for accepting payments via the web, and it is also designed to save institutions hundreds of thousands of dollars annually in recurring credit card processing fees”, says Dan Peterson, President and CEO of Informed Decisions Corp. “In making a payment for any number of charges, such as tuition or housing, the student or parent is asked to pay a service fee that includes all cost for the service, including hardware, software, banking and many administrative services. In 2002, our first CASHNet SmartPay customer saved close to $375,000 in bank costs. We’re expecting those savings to increase in 2003.”

Implementation of CASHNet SmartPay has recently been completed at Syracuse University in New York, Lee College in Texas, California State University at San Marcos, and is in the process of being implemented at two additional CSU campuses. “While each implementation is unique from the perspective of university business policies, the common factor for the universities has been the desire to extend customer service, and meet student demand for web payment capabilities,” says Mr. Peterson.

CASHNet SmartPay may be implemented as a stand alone service, as at Lee College and CSU San Marcos, or as an extension of IDC’s flagship CASHNet Commerce Center in the case of Syracuse University. “The CASHNet SmartPay architecture allows us to interface seamlessly and in real time with other campus systems, such as SCT Banner at CSU San Marcos”, says Aase Beaulieu, Sr. Vice President at IDC. “It offers security, high availability to the campus community, and outsource services in areas usually presenting a resource constraint, such as IT services. Our CASHNet interface expertise is replicated in CASHNet SmartPay, as institutions need seamless integration with Datatel, SCT, PeopleSoft, as well as legacy systems.”

IDC’s CASHNet Commerce Center offers innovation for the entire campus community, allowing business offices and university departments to accept all payment types, whether credit/debit card, Campus 1-Card, or ACH electronic checks. At the same time, students and parents can access the system both in-line and online, via the telephone or via the web. Since all data collected, whether online or in-line, becomes part of the same database, managers, directors, and internal audit can easily assess various components of their business office operation.

About CASHNet
CASHNet® is the safest and easiest way to manage and control commerce on your campus with any payment, anytime, anywhere. CASHNet offer institutions a fully-hosted cashiering, online payment, electronic billing, departmental storefront and installment payment plan solution. For more information about CASHNet, call 1-800-294-6800, or visit www.cashnet.com.

CASHNet®
1301 Marina Village Parkway
Suite 100
Alameda CA 94501
800-294-6800
www.cashnet.com

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