For Immediate Release

ELEMENT PAYMENT SERVICES’ HOSTED PAYMENTS NAMED A 2010 BEST CHANNEL PRODUCT BY BUSINESS SOLUTIONS MAGAZINE

Element Payment Services’ processing solution has been recognized as a 2010 Best Channel Product by the VAR and ISV readers of Business Solutions magazine.

Phoenix, AZ (August 3, 2010) -- Element Payment Services’ Hosted Payments solution has been selected by Business Solutions magazine as one of 2010’s Best Channel Products. Value Added Resellers (VARs) and Independent Software Vendors (ISVs) participating in Business Solutions’ annual survey ranked Hosted Payments as a top payment processing solution for its product reliability, and the ISV’s ability to service.

“We would like to thank our ISV partners and the readers of Business Solutions magazine for this recognition. Since our inception, Element has been committed to providing our software partners and their customers with solutions that reduce risk and liability and ease the burden of PCI compliance. We’ll continue to develop and provide technologies that enable our partners to stay ahead of the payment industry’s security requirements and offer best-in-class solutions to their customers,” says Sean Kramer, Element’s president and CEO.

Hosted Payments is a payment solution that removes software vendors from the scope of the Payment Application Data Security Standard (PA-DSS)/Payment Card Industry Data Security Standard (PCI DSS) by shifting the responsibility of handling sensitive cardholder data to Element. With Hosted Payments, the software vendor's application is responsible for collecting all of the non-sensitive data needed to perform a payment transaction, while Element collects, processes, transmits and stores all sensitive cardholder data. ISVs not only avoid the hassle and cost of achieving PA-DSS/PCI DSS compliance, but because Hosted Payments is integrated with Element's PCI DSS compliant Express Processing Platform, ISVs, merchants and consumers receive the highest level of protection from cardholder data compromises.

Business Solutions magazine partnered with Penn State University to conduct and analyze a survey of its subscribers. As part of the Web-based survey, VARs were asked to rate the product’s richness of features/functionality, product reliability/durability, ease of integration, ease of upgrading and the VAR’s ability to service. In most cases, the top 15% of products in each surveyed technology category were selected as Best Channel Products.

1,416 VARs participated in the survey, casting a total of 16,656 votes, making it one of the largest surveys of its kind.

Additional award details can be found at http://www.bsminfo.com/article.mvc/Best-Channel-Products-2010-0001.

About Element Payment Services, Inc.

Headquartered in Phoenix, Arizona, Element Payment Services, Inc. provides fully integrated PCI DSS compliant payment processing solutions to merchants through partnerships with leading business management ISVs. Engineered using service-oriented architecture, Element's Express Processing Platform allows for easy integration and supports advanced technologies such as end-to-end encryption, tokenization and authentication.

Processing over $4 billion in annual transaction volume, Element's simple and secure payment solutions allow customers to easily comply with industry security requirements such as PCI DSS, and PA-DSS, significantly reducing the risk associated with handling cardholder data. Element’s innovative technology, Hosted Payments, was the first payment processing solution on the market to take software providers out of scope for PA-DSS/PCI DSS compliance requirements.

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