ePassporte and Paycom.net Owners Divide Business Interests
- BREAKING INDUSTRY NEWS
July 26, 2005 - (Marina Del Rey, CA) - The owners of ePassporte, NV, a pre-paid Visa card and Paycom.net, a leading processor of online payment transactions, have divided their business interests, the companies reported today.
Details and terms of the transaction were not disclosed. Both companies reported, however, that Christopher Mallick is now the sole owner of ePassporte and Joel Hall and Clayton Andrews are the sole owners of Paycom.net. Neither company's business model will change.
Hall and Andrews, the original Co-Founders of Paycom.net, and Mallick, who joined the company later, had been business partners for five years.
Clay Andrews and Joel Hall issued a joint statement on behalf of Paycom.net, "We are pleased to announce that we have successfully completed a transaction that provides the individuals involved with their own separate and exclusive business and allows both companies to focus on core competencies and goals that are targeted to meet their respective clients' needs. We both wish the ePassporte team the best of luck."
Christopher Mallick commented on behalf of ePassporte, "I am pleased to be able to focus my full attention on ePassporte and the many exciting opportunities the brand has to offer consumers. I look forward to working with the many associates, vendors and strategic partners much closer now. I am sure Paycom.net will continue to grow and prosper and will remain the industry leader in payment processing."
Paycom.net will remain in their current offices in Southern California. ePassporte will have a representative office in Southern California, with its corporate headquarters and majority of its business activities remaining in Curacao. ePassporte's sales and marketing operation is located in Toronto.
About ePassporte:
ePassporte sells pre-paid Virtual Visa and Visa Electron products to online consumers and offers a proprietary peer-to-peer network connecting businesses and individuals worldwide via the Internet. ePassporte is accepted everywhere that Visa is accepted and at PLUS ATMs worldwide. Visit www.ePassporte.com for more information.
About Paycom.net:
Paycom.net is an Internet Payment Service Provider (IPSP). Paycom.net specializes in billing for subscription based Websites, password management, fraud prevention, customer service, and innovative marketing and retention tools. Visit www.Paycom.net for more information.
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