SurePay Names New Chief Executive Officer

Stephen J. Flett, Accomplished American Express Executive,

Has Significant B2B Payment Experience



Apr 17, 2001, 01:00 ET from SurePay, LP

    MELVILLE, N.Y., April 17 /PRNewswire/ -- SurePay, LP
 (http://www.surepay.com), a major operating company of eONE Global LP
 (http://www.eoneglobal.com) and a provider of end-to-end payment and trust
 services for Internet business-to-business (B2B), business-to-consumer (B2C)
 and Mobile Commerce markets globally, today announced the appointment of
 Stephen J. Flett as Chief Executive Officer.  An internationally seasoned
 senior executive, Mr. Flett has considerable experience as a business
 strategist and new payments technology leader.  His management skills
 developing new business strategies and directing the introduction of
 e-commerce payment products during his 12 years at American Express will
 further SurePay's business initiatives and market presence as it introduces
 its online B2B payment platform solution later this month.
     SurePay leverages the vast experience, strength and infrastructure of
 founder First Data Corp. (NYSE:   FDC), a global leader in electronic commerce
 and payment services, to develop, adopt and deliver trusted payment
 technologies in the B2B sector.  eONE Global is jointly owned by management,
 First Data Corp., and iFormation Group, a partnership of the Boston Consulting
 Group, Inc., General Atlantic Partners, LLC and The Goldman Sachs Group, which
 partners with large companies to help create new online businesses.
     Flett's joining SurePay coincides with the company's increase in momentum
 and marketplace traction.  In addition to several pending customer
 relationships, SurePay earlier this month announced a strategic alliance with
 VeriSign, the leading provider of Internet trust services, to jointly develop
 and market the SurePay B2B payment solution and VeriSign's B2C payment
 solution as their respective premier payment offerings.  John Duncan,
 SurePay's first CEO and a managing director of eONE Global, will now focus on
 identifying and developing emerging payment technologies at eONE Global, most
 immediately in the Mobile Commerce and wireless consumer payments sector.   He
 will also remain active in business development activities to accelerate
 SurePay's product and market presence globally.
     "As SurePay's new CEO, Steve's impressive background in international
 finance, his management experience and his proven track record in developing
 online B2B payment technologies will complement SurePay's foundation and
 direction and accelerate our progress in achieving our strategic objectives,"
 said Garen Staglin, president and CEO of eONE Global.  "John Duncan's strong
 business development skills established SurePay as a leader in trusted
 Internet payments.  Now, Steve's understanding of new technology
 opportunities, global payments and information systems underscore his ability
 to propel the company forward as a global leader in the online business
 payments sector.  We are fortunate to have the business skills of both of
 these executives on the same team to assist us in achieving our goal of
 creating the future of online payments, today and tomorrow."
     SurePay has been recognized by industry analysts as well on its way to
 becoming the premier, single-source B2B payments solution provider by offering
 an integrated, end-to-end product -- from buyer/seller verification to
 integrated reporting.  Leveraging its strength in transaction execution and
 core gateway products, SurePay will seamlessly integrate its offerings with
 public and private exchange's and enterprise's product development cycle and
 existing technology platforms.
     "SurePay provides a tremendous opportunity to move payment processes
 online and improve business efficiencies, and I am thrilled to be part of it,"
 Flett said.  "Building upon SurePay's solid foundation in the U.S., my
 international banking and payments experience will help as we accelerate
 business development efforts internationally over the next several months.  In
 addition, we will continue to focus on executing our strategy to partner with
 financial institutions and third-party providers to enhance our B2B payments
 offering as the premier solution in the marketplace."
     SurePay is poised to take advantage of the vast growth opportunities in
 the B2B arena.  The Boston Consulting Group estimates that B2B e-commerce in
 four leading countries (U.S., U.K. France and Germany) represents a market
 opportunity of approximately $16 billion by 2005; the relevant payments market
 for SurePay represents a revenue opportunity in excess of $4 billion during
 that period.
     "eONE Global's ability to attract Stephen Flett, a leading payments and
 technology executive, is a testament to the company's strength and leadership
 position in the emerging payments business," stated David Pecaut, president of
 iFormation Group and member of eONE Global's Board of Directors.  "Steve is
 highly accomplished and a creative asset to our executive team.  His joining
 SurePay is an important milestone for the company as it moves aggressively
 forward, and is indicative of the quality and caliber of talented
 professionals who are committed to eONE's overall strategic vision."
 
     Innovative Technology Leader
     Flett has extensive B2B payment expertise developing and implementing
 innovative Internet-based payment products for major global businesses and
 managing governmental banking institutions.  He was responsible for the
 development and launch of "International Payments," American Express' entree
 into B2B e-commerce online payments.
     An internationally seasoned senior executive, Flett has held a series of
 positions of escalating importance for the American Express Company, Ltd.,
 where his leadership and direction of new technological business opportunities
 significantly increased the company's presence in key global market areas as
 well as the company's revenue base.  Most recently as senior vice president
 and general manager for American Express's Global Foreign Exchange Services
 Division, he successfully built and introduced the company's first online
 transactional corporate payments service.  As vice president of International
 Business Development, he defined and launched the company's entree into its
 strategic alliance program supporting the distribution of the American Express
 Cards through bank partnerships.
     Flett has an impressive track record in the banking industry, most notably
 as Managing Director of the Bermuda Monetary Authority (Central Bank) where,
 reporting to the Minister of Finance, he was responsible for the supervision
 of Bermuda's financial institutions and its fiscal reserves supporting the
 foreign value of Bermuda's currency.  He has broad mergers and acquisition
 experience from Reed International, plc., and he began his career developing
 banking and offshore insurance programs at the accounting firm Coopers and
 Lybrand  (now PricewaterhouseCoopers).
     A charter member of Mainspring's Strategy Executive Council, Flett has an
 MBA degree from York University of Toronto and a B.Commerce degree with Honors
 from Queen's University.  He also is a Chartered Accountant with memberships
 in associations in Ontario and Bermuda.
 
     About SurePay
     SurePay, LP provides complete, end-to-end payment, trust and security
 products and services for Internet B2B, B2C and Mobile Commerce markets on a
 global scale. Leveraging the leadership position of its founder, First Data,
 in payments processing, SurePay develops and delivers trusted, secure payment
 solutions for businesses and consumers buying and selling on the Internet.
 SurePay is a central operating company within the eONE Global network of
 payment companies and technologies.  Headquartered in Melville, NY, SurePay
 has access to the powerful transaction processing and distribution resources
 of First Data Corp. throughout the world.  For more information visit
 http://www.surepay.com.
 
     About eONE Global
     As the leading source for accelerating payment innovation, eONE Global, LP
 (http://www.eoneglobal.com) identifies, develops, and operates emerging
 payment systems and related Internet and wireless technologies spanning the
 business, government and consumer markets.  Its operating companies include
 SurePay, LP (http://www.surepay.com), which provides end-to-end payment and
 security products for companies and consumers buying and selling over the
 Internet, as well as govONE Solutions, LP (http://www.govONEsolutions.com),
 which enables businesses and consumers to make government payments
 electronically.  eONE Global is owned by global e-commerce and payment
 services leader First Data Corp. (NYSE:    FDC) and iFormation Group, a company
 created by The Boston Consulting Group, General Atlantic Partners, LLC and The
 Goldman Sachs Group.
 
     About First Data Corp.
     Atlanta-based First Data Corp. (NYSE:   FDC) is a global leader in
 electronic commerce and payment services. Serving more than 2.5 million
 merchant locations, more than 1,400 card issuers and millions of consumers,
 First Data makes it easier, faster and more secure for people and businesses
 to buy goods and services, using virtually any form of payment: credit, debit,
 stored-value card or check at the point-of-sale, over the Internet or by money
 transfer.  For more information, please visit the company's Web site at
 http://www.firstdata.com.
 
     About iFormation Group
     iFormation Group is a company created by The Boston Consulting Group,
 General Atlantic Partners and Goldman Sachs to carve new ventures out of
 traditional companies in partnership with the Global 2000.  iFormation teams
 with industry leaders to acquire, develop and build new Internet and
 technology ventures that leverage the corporate partners' legacy assets. For
 more information, please visit the company's Web site at
 http://www.iformationgroup.com
 
 

SOURCE SurePay, LP
    MELVILLE, N.Y., April 17 /PRNewswire/ -- SurePay, LP
 (http://www.surepay.com), a major operating company of eONE Global LP
 (http://www.eoneglobal.com) and a provider of end-to-end payment and trust
 services for Internet business-to-business (B2B), business-to-consumer (B2C)
 and Mobile Commerce markets globally, today announced the appointment of
 Stephen J. Flett as Chief Executive Officer.  An internationally seasoned
 senior executive, Mr. Flett has considerable experience as a business
 strategist and new payments technology leader.  His management skills
 developing new business strategies and directing the introduction of
 e-commerce payment products during his 12 years at American Express will
 further SurePay's business initiatives and market presence as it introduces
 its online B2B payment platform solution later this month.
     SurePay leverages the vast experience, strength and infrastructure of
 founder First Data Corp. (NYSE:   FDC), a global leader in electronic commerce
 and payment services, to develop, adopt and deliver trusted payment
 technologies in the B2B sector.  eONE Global is jointly owned by management,
 First Data Corp., and iFormation Group, a partnership of the Boston Consulting
 Group, Inc., General Atlantic Partners, LLC and The Goldman Sachs Group, which
 partners with large companies to help create new online businesses.
     Flett's joining SurePay coincides with the company's increase in momentum
 and marketplace traction.  In addition to several pending customer
 relationships, SurePay earlier this month announced a strategic alliance with
 VeriSign, the leading provider of Internet trust services, to jointly develop
 and market the SurePay B2B payment solution and VeriSign's B2C payment
 solution as their respective premier payment offerings.  John Duncan,
 SurePay's first CEO and a managing director of eONE Global, will now focus on
 identifying and developing emerging payment technologies at eONE Global, most
 immediately in the Mobile Commerce and wireless consumer payments sector.   He
 will also remain active in business development activities to accelerate
 SurePay's product and market presence globally.
     "As SurePay's new CEO, Steve's impressive background in international
 finance, his management experience and his proven track record in developing
 online B2B payment technologies will complement SurePay's foundation and
 direction and accelerate our progress in achieving our strategic objectives,"
 said Garen Staglin, president and CEO of eONE Global.  "John Duncan's strong
 business development skills established SurePay as a leader in trusted
 Internet payments.  Now, Steve's understanding of new technology
 opportunities, global payments and information systems underscore his ability
 to propel the company forward as a global leader in the online business
 payments sector.  We are fortunate to have the business skills of both of
 these executives on the same team to assist us in achieving our goal of
 creating the future of online payments, today and tomorrow."
     SurePay has been recognized by industry analysts as well on its way to
 becoming the premier, single-source B2B payments solution provider by offering
 an integrated, end-to-end product -- from buyer/seller verification to
 integrated reporting.  Leveraging its strength in transaction execution and
 core gateway products, SurePay will seamlessly integrate its offerings with
 public and private exchange's and enterprise's product development cycle and
 existing technology platforms.
     "SurePay provides a tremendous opportunity to move payment processes
 online and improve business efficiencies, and I am thrilled to be part of it,"
 Flett said.  "Building upon SurePay's solid foundation in the U.S., my
 international banking and payments experience will help as we accelerate
 business development efforts internationally over the next several months.  In
 addition, we will continue to focus on executing our strategy to partner with
 financial institutions and third-party providers to enhance our B2B payments
 offering as the premier solution in the marketplace."
     SurePay is poised to take advantage of the vast growth opportunities in
 the B2B arena.  The Boston Consulting Group estimates that B2B e-commerce in
 four leading countries (U.S., U.K. France and Germany) represents a market
 opportunity of approximately $16 billion by 2005; the relevant payments market
 for SurePay represents a revenue opportunity in excess of $4 billion during
 that period.
     "eONE Global's ability to attract Stephen Flett, a leading payments and
 technology executive, is a testament to the company's strength and leadership
 position in the emerging payments business," stated David Pecaut, president of
 iFormation Group and member of eONE Global's Board of Directors.  "Steve is
 highly accomplished and a creative asset to our executive team.  His joining
 SurePay is an important milestone for the company as it moves aggressively
 forward, and is indicative of the quality and caliber of talented
 professionals who are committed to eONE's overall strategic vision."
 
     Innovative Technology Leader
     Flett has extensive B2B payment expertise developing and implementing
 innovative Internet-based payment products for major global businesses and
 managing governmental banking institutions.  He was responsible for the
 development and launch of "International Payments," American Express' entree
 into B2B e-commerce online payments.
     An internationally seasoned senior executive, Flett has held a series of
 positions of escalating importance for the American Express Company, Ltd.,
 where his leadership and direction of new technological business opportunities
 significantly increased the company's presence in key global market areas as
 well as the company's revenue base.  Most recently as senior vice president
 and general manager for American Express's Global Foreign Exchange Services
 Division, he successfully built and introduced the company's first online
 transactional corporate payments service.  As vice president of International
 Business Development, he defined and launched the company's entree into its
 strategic alliance program supporting the distribution of the American Express
 Cards through bank partnerships.
     Flett has an impressive track record in the banking industry, most notably
 as Managing Director of the Bermuda Monetary Authority (Central Bank) where,
 reporting to the Minister of Finance, he was responsible for the supervision
 of Bermuda's financial institutions and its fiscal reserves supporting the
 foreign value of Bermuda's currency.  He has broad mergers and acquisition
 experience from Reed International, plc., and he began his career developing
 banking and offshore insurance programs at the accounting firm Coopers and
 Lybrand  (now PricewaterhouseCoopers).
     A charter member of Mainspring's Strategy Executive Council, Flett has an
 MBA degree from York University of Toronto and a B.Commerce degree with Honors
 from Queen's University.  He also is a Chartered Accountant with memberships
 in associations in Ontario and Bermuda.
 
     About SurePay
     SurePay, LP provides complete, end-to-end payment, trust and security
 products and services for Internet B2B, B2C and Mobile Commerce markets on a
 global scale. Leveraging the leadership position of its founder, First Data,
 in payments processing, SurePay develops and delivers trusted, secure payment
 solutions for businesses and consumers buying and selling on the Internet.
 SurePay is a central operating company within the eONE Global network of
 payment companies and technologies.  Headquartered in Melville, NY, SurePay
 has access to the powerful transaction processing and distribution resources
 of First Data Corp. throughout the world.  For more information visit
 http://www.surepay.com.
 
     About eONE Global
     As the leading source for accelerating payment innovation, eONE Global, LP
 (http://www.eoneglobal.com) identifies, develops, and operates emerging
 payment systems and related Internet and wireless technologies spanning the
 business, government and consumer markets.  Its operating companies include
 SurePay, LP (http://www.surepay.com), which provides end-to-end payment and
 security products for companies and consumers buying and selling over the
 Internet, as well as govONE Solutions, LP (http://www.govONEsolutions.com),
 which enables businesses and consumers to make government payments
 electronically.  eONE Global is owned by global e-commerce and payment
 services leader First Data Corp. (NYSE:    FDC) and iFormation Group, a company
 created by The Boston Consulting Group, General Atlantic Partners, LLC and The
 Goldman Sachs Group.
 
     About First Data Corp.
     Atlanta-based First Data Corp. (NYSE:   FDC) is a global leader in
 electronic commerce and payment services. Serving more than 2.5 million
 merchant locations, more than 1,400 card issuers and millions of consumers,
 First Data makes it easier, faster and more secure for people and businesses
 to buy goods and services, using virtually any form of payment: credit, debit,
 stored-value card or check at the point-of-sale, over the Internet or by money
 transfer.  For more information, please visit the company's Web site at
 http://www.firstdata.com.
 
     About iFormation Group
     iFormation Group is a company created by The Boston Consulting Group,
 General Atlantic Partners and Goldman Sachs to carve new ventures out of
 traditional companies in partnership with the Global 2000.  iFormation teams
 with industry leaders to acquire, develop and build new Internet and
 technology ventures that leverage the corporate partners' legacy assets. For
 more information, please visit the company's Web site at
 http://www.iformationgroup.com
 
 SOURCE  SurePay, LP

RELATED LINKS

http://www.firstdatacorp.com