SOURCE: JetPay, LLC

April 16, 2008 07:00 ET

JetPay LLC and JetPay ISO Services LLC Complete Deal With Susquehanna Bank

CARROLLTON, TX--(Marketwire - April 16, 2008) - JetPay LLC, a payment services provider and developer of the JetPay™ suite of payment transaction processing solutions, and JetPay Merchant Services LLC and JetPay ISO Services LLC registered independent sales organizations, have completed a deal with Susquehanna Bank DV in which Susquehanna will supply bank sponsorship for the JetPay entities.

"JetPay has been growing at a rapid rate over the past few years, and this is requiring us to expand our banking relationships so we continue to flourish. This agreement brings a bank to JetPay that understands the industry and understands the power of the JetPay platform, allowing JetPay to grow without restriction based on capital or industry knowledge. This will be a partnership that will benefit both parties significantly and allow both parties to move rapidly into the next phases of their businesses," said Trent Voigt, CEO of JetPay.

JetPay will be converting a merchant portfolio from another bank to Susquehanna Bank's wholly owned subsidiary, Central Atlantic Merchant Services. JetPay will provide credit card authorizations and settlement as well as ACH check conversion services to Susquehanna.

"When we saw the feature set that JetPay had to offer -- the up-to-date technology, the real-time reporting, the agility to enhance products to meet our customer needs now and the service that their staff supplied us from the start -- we decided that it was time to add JetPay to our business plan. JetPay's competitive pricing and unique products will allow Central Atlantic Merchant Services the ability to be product and price competitive in the market, which is always a challenge," said David Chester, President of Central Atlantic Merchant Services. "With the market pricing pressures, it is your products and services that distinguish your bank from the rest. JetPay delivered on both of those points, putting Susquehanna and Central Atlantic Merchant Services in a stronger competitive position."

About JetPay, LLC

JetPay, LLC is a payment processing company comprised of industry specialists fully conversant in POS and order-entry software applications, systems integration, data networking, and communications technologies. Developer and manager of its own UNIX-based platform, JetPay™ provides credit card authorization, capture, clearing, settlement and a full menu of related services designed to handle payment processing of 'high speed need' clients. JetPay, LLC maintains a business development and account support center in Dallas, focusing on meeting the payments acceptance needs of credit card merchants across the globe. For more information, contact JetPay LLC at www.jetpay.com, www.jetpayms.com, or www.jetpayiso.com.

About Susquehanna Bank DV

Susquehanna Bank DV, headquartered in Camden, N.J., operates 47 retail branches throughout Atlantic, Burlington, Camden, Cumberland and Gloucester counties in New Jersey; and Berks, Chester, Delaware, Lehigh, Montgomery and Northampton counties in Pennsylvania. It is a subsidiary of Susquehanna Bancshares, Inc. (NASDAQ: SUSQ), which has assets of $13 billion. Through its subsidiaries, Susquehanna Bancshares operates additional bank branches throughout the Mid-Atlantic region and provides financial planning and investment management, insurance, commercial finance and vehicle leasing services. For more information, visit www.susquehanna.net.

About Central Atlantic Merchant Services, Inc.

Central Atlantic Merchant Services, Inc. is a wholly owned subsidiary of Susquehanna Bank DV. With over 27 years of experience, Central Atlantic Merchant Services is one of the nation's top merchant service providers. Central Atlantic Merchant Services is the only fully staffed acquiring entity in Southern New Jersey providing complete acquiring services, including on-site customer service and chargeback management to its customers.

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