NEW YORK, July 31, 2006 (PRIMEZONE) -- NYPay announced today its formation as New York City's premiere networking forum for professionals in the payments industry. The organization conducted its initial launch meeting on June 15th, hosted by co-founding member Hughes, Hubbard & Reed, and attended by dozens of its charter members. The meeting focused on the theme "The Future of Payments" with a presentation made by the Mercator Advisory Group on "Driving Payment Trends through POS Technologies." NYPay co-founding members from Edgar, Dunn & Company (EDC), TransUnion, CashEdge, and Hughes, Hubbard & Reed moderated the event.
NYPay is designed to provide a professional networking forum for the exchange of views and ideas among active professionals within the payments industry that are located in the New York City metro area. The group interacts via an online user group and at regular face-to-face functions that will focus on current payments trends and issues. Anita Boomstein of Hughes, Hubbard & Reed provides the association's legal representation and expertise on laws relating to payment systems.
"NYPay brings together professionals in a collegial setting to network and dialogue on relevant issues in the dynamic payments industry," said Ronald Mazursky, director, Edgar, Dunn & Company. "The model for this professional forum is based on the successful West Coast association, BayPay, which EDC co-founded in 2005 with membership now in the hundreds of active professionals."
"NYPay provides a much needed opportunity for payments professionals to stay current on industry developments while connecting with colleagues from various institutions. CashEdge is pleased to be involved as a founding member," said Demetris Papademetriou, Director, CashEdge, Inc.
Based on NYPay's stated membership profile, the association is seeking active professionals involved in the Financial Services Industry payments field who can contribute to the forum's regular discussion groups. Membership is by invitation only.
The next in-person meeting will be held on Thursday, September 14, 2006, from 5:30 p.m. to 7:00 p.m. For more information contact: romina.abal@edgardunn.com.
About Edgar, Dunn & Company
Edgar, Dunn & Company (EDC) is an independent global financial services and payments consultancy. Founded in 1978, the firm is widely regarded as trusted advisors in the payments industry providing a full range of strategy consulting services, expertise and market insight through in-depth industry and consumer benchmarking. Global capabilities include strategy, risk management, marketing, profitability improvement, operations and new products and technologies. EDC's offices are located in San Francisco, New York, Atlanta, London, Frankfurt and Sydney and serve clients in over 30 countries on six continents. More information can be found at www.edgardunn.com.
About CashEdge, Inc.
CashEdge(r) provides innovative, online financial applications for banks, credit unions and wealth management firms. CashEdge's solutions include end-to-end online account opening and funding, funds transfer and data consolidation. These proven solutions are flexible, scalable and supported by extensive risk management capabilities. With CashEdge, financial institutions are able to create compelling online offerings that attract customers, generate revenues and reduce costs. CashEdge serves more than 450 leading financial institutions, including such leading institutions as Bank of America, Citibank, and Royal Bank of Canada. CashEdge has offices in New York and Silicon Valley. For more information, please visit www.cashedge.com.
The CashEdge logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2019
About TransUnion
TransUnion is a leading global information solutions company that customers trust as a business intelligence partner and commerce facilitator. TransUnion offers a broad range of financial services that enable customers to manage risk and capitalize on market opportunities. The company uses advanced technology coupled with extensive analytical capabilities to combat fraud and facilitate credit transactions between businesses and consumers across multiple markets. Founded in 1968, Chicago-based TransUnion employs 4,100 associates who support clients in more than 30 countries. Visit us at TransUnion.com.
About Hughes Hubbard & Reed
Hughes, Hubbard & Reed, LLP, founded over 100 years ago by the legendary Chief Justice Charles Evans Hughes, is one of the most prominent law firms in the United States. The firm, which is headquartered in New York, also has offices in Washington D.C., Miami, Los Angeles, Jersey City, Paris and Tokyo. Anita Boomstein, a partner in the New York office, heads the Payment Systems practice. She represents clients in all facets of the industry, including banks, industrial loan companies, finance companies, issuers of credit, debit and stored value cards, acquirers and merchants. For these clients, she advises on all aspects of state and federal banking and consumer credit laws and regulations, including privacy, electronic fund transfers and data security, and she negotiates co-branded, sponsorship, processing and all forms of third-party agreements. More information about the firm can be found at www.hugheshubbard.com.