Based on the terms of this agreement, iPay will provide the gateway that delivers the electronic payments generated by NetTeller PowerPay, Jack Henry's electronic bill payment solution. iPay's transaction routing technology will optimize the delivery of the millions of electronic payments collectively generated each year by Jack Henry's core clients.

According to Pete Hopkins, general manager of Internet Solutions for Jack Henry & Associates, "Electronic bill payment is a strategic offering for financial institutions and we have made a significant commitment to provide contemporary e-payment solutions. We believe iPay's electronic payments gateway will further enhance our PowerPay solution. We also expect to offer non-core clients, like the financial institutions added through our AudioTel acquisition, a proven and flexible electronic bill pay solution that will be compatible with virtually any core and Internet banking platform."

Kelli Schultz, president of iPay, said, "Jack Henry is a highly respected industry leader, so we consider its selection of iPay as a strategic business partner to further validate the quality of our products and services. We look forward to a long and successful relationship with Jack Henry, its core and non-core financial institution clients, and ultimately the hundreds of thousands of users of our bill payment solutions."