ECHO Press Releases

FOR IMMEDIATE RELEASE

ELECTRONIC CLEARING HOUSE, Inc. (ECHO) and First National Merchant Solutions Renew Contract for Visa POS Check Services

Agoura Hills, Calif., January 31, 2003 – Electronic Clearing House, Inc. (NASDAQ:ECHO), a leading provider of electronic payment services, today announced that the Company has renewed its contract with First National Merchant Solutions, a wholly-owned subsidiary of First National Bank of Omaha, to provide electronic check services to First National Merchant Solutions customers. 

The agreement is part of the Visa POS (Point-of-Sale) Check Services program, which allows merchants to receive immediate online authorization for paper checks, by converting them into electronic transactions. Checks drawn against participating member banks in the program are processed and settled electronically by Visa. Checks drawn on non-participating banks, Visa routes to ECHO, the selected third-party processor for First National merchants, and the checks are processed and settled by ECHO. The Visa POS Check Service reduces the merchant's cost of processing paper checks, in addition to helping them to manage the risk associated with check acceptance.

First National was one of the first processors to pilot the Visa POS Check Service in 2001 and continues to be a leader in the implementation of the product. Branded and marketed under the name CompletePay(TM), First National has already seen positive acceptance of the product by merchants and is estimating four times the growth of Complete Pay(TM) in 2003.

"Reception to CompletePay(TM) has been overwhelming," said Susan Rue, Product Manager for First National Merchant Solutions. "Visa has done an excellent job in the development of the POS Check Service and over the past year, both Visa and ECHO have worked with us to build a robust, customizable processing platform. As we continue to offer merchants payment processing solutions to fit their point-of-sale needs, a brandable and scaleable solution, such as the Visa POS Check Service program, will be a critical component of the premier solution merchants require in today's market."

"We are extremely pleased to continue our relationship with First National Merchant Solutions," said Joel M. Barry, Chairman and CEO of Electronic Clearing House, Inc. "This is a strong endorsement of the value that the Visa POS Check Services program can provide its member banks. ECHO has worked diligently with both Visa and First National to expedite the check out process and provide consumers with greater payment flexibility while reducing check processing costs and risks for banks and merchants."

About First National Merchant Solutions:

First National Merchant Solutions is a wholly-owned subsidiary of First National Bank of Omaha. First National Merchant Solutions is a customer service driven payment processor with 50 years of experience. First National Merchant Solutions develops cutting-edge proprietary products and services that enable merchants to focus on their core business.

Processing transactions in 11 foreign currencies, First National Merchant Solutions offers international payment processing solutions for businesses worldwide. For more information, visit First National Merchant Solution's Web site at www.foomp.com.

About Electronic Clearing House, Inc. (ECHO):

Electronic Clearing House, Inc. (www.echo-inc.com) provides a complete solution to the payment processing needs of merchants, banks and collection agencies. ECHO's services include debit and credit card processing, check guarantee, check verification, check conversion, check re-presentment, check collection, and inventory tracking. ECHO is a certified third-party processor for Visa's Point-of-Sale (POS) Check Services program and is currently working with six of the eight major financial institutions participating in the program.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements set forth above that are not historical facts re forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, such factors as fluctuations in demand for the Company’s products and services, the introduction of new products and services, the Company’s ability to maintain customer and strategic business relationships, technological advancements, impact of competitive products and services and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, and other information detailed from time to time in the Company’s filings with the United States Securities and Exchange Commission.

Investor Contacts:

Donna Rehman, Corporate Secretary 
Electronic Clearing House, Inc.
818-706-8999, ext. 3033 
Agoura Hills, Calif. 
E-MAIL: corp@ECHO-inc.com
URL: http://www.ECHO-inc.com

Crocker Coulson, Partner
Coffin Communications Group
818-789-0100
E-MAIL: crocker.coulson@coffincg.com

Press Releases are also available by calling (800) 233-0406 ext. 3033, or by email to corp@echo-inc.com

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Electronic Clearing House, Inc. (ECHO)
28001 Dorothy Drive
Agoura Hills, CA 91301

Phone: (800) 233-0406
Fax: (818) 991-5973
E-Mail: echo@echo-inc.com
URL: http://www.echo-inc.com