Smart Payment Solutions Partners with SofterWare and Delivers Strategic Payment Services

Arlington, VA – November 20, 2008 – Smart Payment Solutions (SPS), a full-service payment solutions company that specializes in ACH (Automatic Clearing House) and credit card processing, today announced a new partnership with SofterWare Inc., a leading provider of administrative software to manage child care centers, nonprofit fundraising, camps and conference centers as well as public and private schools. The partnership was designed to provide cost-effective and efficient electronic payment tools for e-check payments made online and via automated pre-authorized debits.

The partnership combines cutting-edge administrative software technology from SofterWare with Smart Payment Solution’s proven virtual payments platform. Smart Payment Solutions provides its services to businesses of all sizes and is well suited for child care centers and other nonprofits looking to reduce accounts receivables, accelerate payment collection and increase cost savings.

“Processing our ACH payments via SofterWare’s integration with Smart Payment Solutions is just fantastic,” said Scott Seip, Senior Account Manager at Day Nursery Association. “It is much easier than our previous payment solution from our bank, and the integration with our accounting ledgers is a huge time-saver, since the transaction amounts are always based on the parent’s current balance and their electronic payment is automatically recorded on their account.”

The SofterWare/SPS payment solution uses a PCI-certified Web-based gateway to transmit all ACH transactions. The virtual terminal eliminates the need to install and manage software and eliminates paper-based invoicing. Aberdeen Research estimates that fully automated companies can save $10.87 per payment – approximately $1.1 million in savings for businesses processing 100,000 B2B payments per year.

“We chose Smart Payment Solutions to provide Electronic Funds Transfer (EFT) processing for our clients because of their proven expertise in efficient ACH payment processing and the fact that they share our strong commitment to customer service,” explained Doug Schoenberg, CEO, SofterWare Inc. “The SPS partnership reflects our ongoing commitment to reduce time spent on administrative tasks and streamline payment processing for our customers.”

“We are delighted to be working with SofterWare. Their software products for recurring payments and online payments have revolutionized how daycare centers and camps collect their fees and how nonprofits collect pledges and donations,” said Matt Whitaker, President at Smart Payment Solutions.