CASHNet.com Captures Momentum As the Only Fully Web-Based Payment Processing Solution in the Higher Education Marketplace

FOR IMMEDIATE RELEASE

Alameda, CA. June 8, 2005 – CASHNet® announced this week that over 50% of its’ customers in the last 12 months have successfully moved from an installed payment solution to CASHNet.com, a fully hosted, web-based cashiering and electronic billing and payment processing solution. “The momentum we have experienced is greater than we expected”, notes Randy Steyer, Sr. Vice President at CASHNet. “The marketplace is ready for a fully web-based solution as security and privacy has become a primary concern for colleges and universities around the country.”

Most recently, Kent State University in Ohio implemented CASHNet eMarket in order to offer multiple departmental storefronts across campus in order to sell a variety of merchandise such as CDs and offer online conference registration for a MAC Conference on campus. Both the University of Memphis in Tennessee and Del Mar College (Corpus Christi, TX) went live last month with the CASHNet Cashiering solution while the University of Memphis and San Diego State University are successfully using CASHNet.com’s CASHNet eBill for email billing notification and payment.

CASHNet’s DataCenter is located in Dallas, Texas in a fully redundant and secure environment. CASHNet is certified under the Visa CISP (Cardholder Information Security Program) and MasterCard SDP (Site Data Protection) Program and meets all federal, state and banking regulations.

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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