RDM and First American Payment Systems ink sales agreement

Source: RDM

RDM Corporation (TSX: RC), a leading developer of specialized software and hardware products for electronic payment processing and Remote Deposit Capture (RDC) solutions, announced today that First American Payment Systems L.P. has agreed to sell RDM's suite of RDC products including the ITMS Simply Deposit and WebClient products.

First American Payment Systems currently provides payment processing services to over 100,000 merchants in the United States and is ranked as one of the country's top privately-owned payment solution providers.

Simply Deposit is an RDC solution designed specifically for small business. It is easy to use, requiring little to no end user training. The ITMS WebClient is a feature rich RDC solution that is ideal for corporate and business environments that have many points of remote or distributed capture locations, as well as those who have large central processing centers. The Simply Deposit and the WebClient products save the end user the time and transportation expenses associated with physically depositing checks at the bank and provide faster availability of funds for the depositor. Both the Simply Deposit and WebClient products are bank agnostic so that businesses are not required to change their existing banking relationships.

"We are very pleased to welcome First American as a reseller of the ITMS suite of Remote Deposit Capture products," said Douglas Newman, President and CEO of RDM Corporation. "The market opportunity for RDC solutions among small to medium sized businesses remains largely untapped and we believe First American Payment Systems is very well positioned to access this market opportunity."

"Introducing new and advanced products to better equip our sales agents is imperative in the Electronic Payments Industry," said Neil L. Randel, Chief Executive Officer and Chairman of the Board, First American Payment Systems. "The newest addition to our full line of in-house products and services is RDM's web-based Remote Deposit Capture system. RDM technology is another great addition to First American, that we believe will add value for everyone."

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