Deal establishes Payment Alliance International as the third largest ATM Processor in the United States

Payment Alliance International (PAI) a leader in the Payment Processing industry, announced that it has acquired the principal operating assets of NetBank Payment Systems (NPS). This transaction will add over 8,500 ATMs to PAI's base and establish them as the third largest ATM Processor in the United States. The addition of NPS further enhances PAI's ability to deliver the wide array of payment services needed by today's progressive retailer.

"We're thrilled to have worked with NetBank to create this opportunity. NetBank Payment Systems is an impressive collaboration of wonderful customers and dedicated employees. For Payment Alliance International, this acquisition marks another important step in the growth and development of our company," said John J. Leehy III, President & CEO of PAI. "Additionally, NPS brings over 6,500 C-Store/Grocery Store clients to our customer base. This important market segment will play an ever increasing role in the delivery of payment services to America's growing un-banked population."

Payment Alliance International is headquartered in Louisville, Kentucky with four Operation Centers throughout the United States. The company will maintain the 20,000 sq ft facility in Jackson, Mississippi and expects to retain NPS' 60 employees. PAI now has 315 employees and serves over 40,000 retailers and community banks across the country.

"Our goal in selling NPS was to find a someone who could invest in and grow the business," said Steven F. Herbert, Chief Executive Officer, NetBank, Inc. "We believe we found that with PAI. In turn, PAI gains an extremely talented group of professionals who I know will contribute to PAI's continued growth and success."

The Tremont Capital Group of Boston, MA and Inverness Management of New York City, NY served as transaction advisors to PAI.

About PAI

Payment Alliance International (PAI) is a leader in the payment processing industry offering credit card, check, ATM network management, cash management and business information services. Created by leading payment executives, PAI has become one of the fastest growing companies in America. PAI is based in Louisville, Kentucky. For more information, please visit http://www.paymentallianceintl.com/

Source: Payment Alliance International