Payment Data Systems, Inc. Announces the Signing of E Transactions Solutions Inc. dba eCashflow Systems to a Reseller Contract

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 Systems, Inc. Announces the Signing of E Transactions Solutions Inc. dba eCashflow Systems to a Reseller Contract - E Transactions Solutions to Become an Early Adopter of Credit Card Account Updater - SAN ANTONIO, June 29 /PRNewswire-FirstCall/ -- Payment Data Systems, Inc. (OTC:PYDS) (BULLETIN BOARD: PYDS) today announced that it has signed a multi-year reseller agreement with E Transaction Solutions Inc. dba eCashflow Systems. E Transaction Solutions dba eCashflow Systems will be directly marketing our complete solution set for merchant services, credit card gateway, and CSR View product that allows a biller's customer service representatives to manage both recurring and one-time payments. They also intend to internally utilize our Account Updater functionality for their current and future customers. The Account Updater function offered by PDS was announced in February of this year. The optional product is designed for businesses that accept payments in a "card not present" environment, such as those found on the Internet, or those that generate recurring payments. Card information such as expiration dates, account upgrades, name changes, etc. change regularly. These changes can now be tracked and updated electronically in real-time eliminating the need for the merchant to directly contact customers for these exceptions. Card-not-present and recurring transactions can now flow seamlessly without the need to interrupt the process to update information. The service greatly reduces costs associated with current manual efforts to update credit card information, as well losses in revenue from lost transactions. Steve Gdovic, Founder and President of E Transaction Solutions dba eCashflow Systems said, "Our clients with monthly recurring fees include organizations such as Fitness Centers, Phone Companies, Cable TV providers & Utility companies. These perfectly fit the profile for the PDS tool and will greatly benefit from this new service." Gdovic continued, "This is a continuing effort to provide our customers with another state of the art tool to help collect consumer payments. Upon completion of the pilot program with three of our YMCA clients, we will roll out the availability of this service to over 1000 existing clients. We plan to make an additional 300 client locations available via our business relationship with Daxko, the leading commercial software provider to YMCAs nationwide." Louis Hoch, President and COO of Payment Data Systems, Inc. said, "We are very enthusiastic about the relationship with E Transaction Solutions / eCashflow Systems. They are a forward-looking company focused on customer service and innovation. We are pleased to be able to provide a tool that meets those objectives very directly." 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/ . Contact: Michael Long, Investor Relations, Payment Data Systems, Inc. 210-249-4040 or via email at . About E Transaction Solutions Inc. d.b.a. eCashflow Systems Established by Steve Gdovic in 1998 as a result of new legislation that allowed third party firms to access the US Federal Reserve Banking System to settle NSF check funds and charge a fee to the individual responsible for writing the bad check. They have since experienced tremendous growth and have become one of the leading providers of NSF collection services. For additional information, visit http://www.ecashflowusa.com/ . FORWARD-LOOKING STATEMENTS DISCLAIMER Except for the historical information contained herein, the matters discussed in this release include certain forward-looking statements, which are intended to be covered by safe harbors. Those statements include, but may not be limited to, all statements regarding our and management's intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. Investors are cautioned that all forward- looking statements involve risks and uncertainties including, without limitation, the factors detailed from time to time in our filings with the Securities and Exchange Commission. One or more of these factors have affected, and in the future could affect, our businesses and financial results in the future and could cause actual results to differ materially from plans and projections. We believe that the assumptions underlying the forward- looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that our objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to our management. We assume no obligation to update any forward-looking statements, 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.paymentdata.com/ http://www.bills.com/ http://www.ecashflowusa.com/

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PYDS Payment Data Systems, Inc.