Payment Data Expands Services Agreement With NeWave; Increases Annual Value Approximately $200,000

Share Name	Share Symbol	Market	Type
Payment Data Systems, Inc.	NASDAQ:PYDS	NASDAQ	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	3.46	3.25	3.60				0	01:00:00

Payment Data Systems, Inc. (NASDAQ:PYDS)
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Payment Data Expands Services Agreement With NeWave; Increases Annual Value Approximately $200,000 SAN ANTONIO, July 28 /PRNewswire-FirstCall/ -- Payment Data Systems (OTC:PYDS) (BULLETIN BOARD: PYDS) announced today the signing of an expanded renewable agreement with NeWave, Inc. (OTC:NWWV) (BULLETIN BOARD: NWWV) for its wholly-owned subsidiary OnlineSupplier.com. Previously, Payment Data Systems (PDS) announced an agreement whereby OnlineSupplier.com began utilizing the PDS solutions of (i) IPS*CSRView, a web-based application which allows OnlineSupplier.com customer service representatives to accept and enter ACH or payments taken from customers via telephone and (ii) IPS*Re-Debit Express, a process for handling and recovering NSF checks via electronic transaction resubmissions. OnlineSupplier.com will now have the ability to utilize the recently announced PDS Account Updater product along with traditional credit card processing, ACH processing, and ACH verification, which takes advantage of its new .Net webservice product. Most of these services are scheduled to be implemented within the next several weeks. It is expected that the expanded services will result in additional estimated revenues to PDS of $208,000, increasing the total value of the agreement to approximately $550,000 a year. Payment Data Systems President and COO Louis Hoch, stated, "We are very pleased to see our relationship expanding with such a fast growing company as NeWave. We believe we have the right mix of solutions that enable these innovative companies to offer creative payment solutions and flexibility for their customers, while reducing their operating expenses and adding to their bottom line." NeWave CEO Michael Hill commented, "Given Payment Data Systems exceptional suite of products, NeWave is able to capitalize on decreasing expenses, and capture revenue, which to date has been unrealized. We will continue to utilize the innovative solutions offered by Payment Data to improve our sales processes." About Payment Data Systems, Inc. Payment Data Systems, Inc., is an Integrated Payments Solution Provider delivering comprehensive, cost-effective solutions to billers and retailers for the processing and management of electronic payments via the Internet, point of sale, or payments taken by Customer Service Representatives or an Interactive Voice Response (IVR). Additional products available from PDS include services and products that can be implemented more quickly and less expensively than the alternative of adding multiple payments companies as these solutions offer a full range of payment processing capabilities. These service offerings include: one time and recurring ACH debits and credits, electronic lockbox and returned check services, Web pay acceptance of credit cards and checks, telephone pay to Customer Service Representatives for acceptance of credit cards and checks, Interactive Voice Response systems which completely automate the payment receiving process, and data warehousing that enable the storage and retrieval of all payment history from one location. Payment Data is the owner of the electronic bill payment portal, http://www.bills.com/ . Bills.com has the ability to transmit electronic payments to thousands of national billers. For additional information, visit http://www.paymentdata.com/ or contact Michael Long, Investor Relations, Payment Data Systems, Inc. (210)249-4040 or via email at . About NeWave, Inc. NeWave, Inc. is a leading online auction and e-commerce solutions provider which utilizes the internet to maximize the income potential of its customers through its subsidiary OnlineSupplier.com. OnlineSupplier.com offers organizations of all sizes the ability to create and manage website solutions and internet marketing necessary for e-commerce. Since inception in August of 2003, Onlinesupplier.com has serviced over 225,000 paid members. To find out more about NeWave, visit our websites at http://www.newave-inc.com/ and http://www.onlinesupplier.com/ . The Company's public financial information and filings can be viewed at http://www.sec.gov/ . Forward Looking Statements This release contains forward-looking statements, including, without limitation, statements concerning our business and possible or assumed future results of operations. Our actual results could differ materially from those anticipated in the forward-looking statements for many reasons including: our ability to continue as a going concern, adverse economic changes affecting markets we serve; competition in our markets and industry segments; our timing and the profitability of entering new markets; greater than expected costs, customer acceptance of our products and services or difficulties related to our integration of the businesses we may acquire; and other risks and uncertainties as may be detailed from time to time in our public announcements and SEC filings. Although we believe the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and our future results, levels of activity, performance or achievements may not meet these expectations. We do not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in our expectations, except as required by law. DATASOURCE: Payment Data Systems, Inc. CONTACT: Michael Long, Investor Relations of Payment Data Systems, Inc. +1-210-249-4040, or Web site: http://www.sec.gov/ Web site: http://www.paymentdata.com/ http://www.bills.com/ http://www.newave-inc.com/ http://www.onlinesupplier.com/

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PYDS Payment Data Systems, Inc.