SOURCE: PaymentOne

March 28, 2007 15:00 ET

PaymentOne Completes SAS 70 Type II Certification

Official Audit Validates Compliance With Sarbanes-Oxley Standards

SAN JOSE, CA -- (MARKET WIRE) -- March 28, 2007 -- PaymentOne® Corporation, one of the world's fastest growing online Payment Services Providers (PSPs), announced today that it has completed the SAS 70 Type II audit and certification from a major independent accounting firm.

The official audit report provides a thorough review of the implemented internal controls, policies and processes used to manage PaymentOne's payment processing, security, fraud screening, risk management and all related data security and protections.

The SAS 70 Type II report helps PaymentOne's clients comply with Sarbanes-Oxley requirements, especially for the large public companies deploying PaymentOne services.

Jennifer Truitt, Vice President of Service Delivery and Client Services at PaymentOne, commented, "Our clients expect the highest level of security and controls so they can insure that their end consumers' information is completed protected and secure when conducting online commerce. As a leader in our market, our SAS 70 Type II certification is another key step and external verification of our long-time quality commitment and proven track record with our clients."

The SAS 70 Type II report indicates that control and procedural objectives specified by PaymentOne have been independently reviewed, verified and tested to validate operating effectiveness.

"PaymentOne has always been committed to high standards of internal quality controls in our development process, network security and overall operation centers," said Greg Calcagno, Vice President of Engineering and Operations. "Our payment service bureau becomes a critical and integrated component of our client's eCommerce process and success."

About SAS 70

SAS 70 is an internationally recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA) indicating that an organization has been through an in-depth review or audit of their internal controls and processes. For public companies required by Sarbanes-Oxley to report on controls over financial reporting, SAS 70 is a preferred reporting standard for partnering with service organizations. Service organizations like PaymentOne, who manage sensitive and confidential financial data, are viewed as extensions of the companies they serve, as interpreted under Sarbanes-Oxley, and therefore must meet rigorous internal control standards.

About PaymentOne

PaymentOne Corporation is one of the world's fastest growing online Payment Services Providers (PSPs). Founded in July 2000, PaymentOne has pioneered payment and marketing services that connect digital merchants and network operators and accelerate the adoption of online content and services by over 25%. Based in Silicon Valley, PaymentOne has generated over $2.5 billion in new digital revenue over the last 36 months for its clients and partners. The company manages a network of over 1000 telecommunication/broadband providers, mobile operators and content partners including leading ISPs, BSPs, Telcos, broadband operators and media companies such as America Online, United Online, NetZero and Time Inc.

To help online merchants attract, convert and retain a wider audience, PaymentOne's integrated suite of revenue optimization services include a unique set of non-credit card payment alternatives, macro and micro payments, identity verification and fraud detection, traditional payment processing, global payments, and a co-marketing distribution network. The company's flagship PhoneBill service provides merchants with access to over 180 million consumers with mobile, broadband and land line accounts.

To learn more about PaymentOne, visit www.PaymentOne.com or call 800-747-4028.

Contact Information