Payday loan through western union

DALLAS--(BUSINESS WIRE)--Nov. 12, 1999--

Texas Capital Bank announced today the addition of a new co-branded electronic payroll platform to complement its line of business lending and treasury management services. Through an agreement with the IPS Card Solutions

division of First Data Corp. Texas Capital will immediately begin offering the Western Union Cash Card(R) service to Texas businesses.

A Better Way To Pay

The Western Union Cash Card service is designed to simplify payroll and administrative activities by taking the "paperwork out of payday." It increases productivity by reducing or eliminating payroll check production and distribution activities, and minimizes problems caused by lost checks, exceptions, bank charges, and potential for payroll fraud. The system provides a very efficient means for paying work forces dispersed across wide geographical areas, or "unbanked" employees who do not have checking accounts. It can also serve as an excellent platform for employee incentive and recognition programs.

"The cash card is a very innovative product that addresses the changing needs of many Texas businesses today," said George Jones, president and CEO of Texas Capital Bank. "Functionally, it offers many of the advantages of direct deposit, but gives employers more flexibility and efficiency in their payroll operations," said Robert A. McDaniel, EVP and manager of Treasury Management for Texas Capital Bank.

"We enthusiastically welcome Texas Capital Bank to our group of valued card service partners," said Doug McNary, president, Western Union North America. "IPS Card Solutions is leading the industry in the areas of reloadable disbursement cards, incentive debit cards, and Stored Value gift cards. We look forward to expanding our presence in Texas through the bank's strong business relationships there."

Money Management Tool Offers Greater Employee Access and Control

The Western Union Cash Card service is a money management tool for employees, giving them greater access and control over their pay. The card allows employees to withdraw compensation all at once, or as needed to meet expenses.

The card provides 24-hour access to an employee's pay via more than 200,000 ATMs located throughout the U.S. The card can also be used at more than 425,000 point-of-sale retailers across the country including major discounters, gas stations, grocery stores, and participating Western Union agent locations throughout the U.S.

The cash card provides a cost-effective alternative to the traditional check cashing outlets that charge workers an average of 2% to 3% of the check amount. It also eliminates time-consuming disruptions created by employees leaving job sites on paydays to cash paychecks.

Co-Branded Marketing Equity

Texas Capital Bank will promote the card to Texas businesses through co-branded marketing efforts featuring the Texas Capital Bank and Western Union logos. "Western Union is one of the most established brands in the financial services industry. Employers know that their employees will readily accept this new payment method because of Western Union's reputation and strong brand identity," Mr. Jones said.

About Texas Capital Bank

Texas Capital Bank is privately owned and operated by the holding company, Texas Capital Bancshares, Inc. Launched earlier this year with initial capitalization of $80 million, the largest start-up bank capitalization in U.S. history, Texas Capital Bancshares, Inc. was founded to bring true "relationship banking" back to Texas. Texas Capital was created to fill a void in the Texas banking market after consolidation in the 1980s eliminated most of the large independent Texas banks. Texas Capital targets high-income individuals and mid-sized businesses, and currently has three locations in Dallas, one in Plano, one in Fort Worth and loan production offices in Santa Fe, New Mexico and Tulsa, Oklahoma. The bank has plans to open offices in Austin and San Antonio by the end of 1999 and in Houston in 2000.

Customers can access Texas Capital Bank online at www.texascapitalbank.com, where they can view account information, transfer funds between Texas Capital Bank accounts, pay bills, examine account history, and access direct ongoing information on trust and investment management accounts.

About IPS Card Solutions

IPS Card Solutions provides electronic payment and money transfer services for consumers, commercial and government clients using ATM cards, pre-paid stored-value cards, debit cards and long-distance calling cards. Card-based solutions for a wide variety of applications are provided, including complementary product lines for compensation services and government payment services through the Western Union Cash Card corporate program; customized payment, coupon, incentive, loyalty and promotion programs through the ValueLink(R) service; and benefit payment systems for cash-based (unbanked) customers via Western Union(R) Benefits Quick Cash (SM) and the Western Union Cash Card programs.

About First Data

Atlanta-based First Data Corp. (NYSE:FDC) helps move the world's money. As the leader in electronic commerce and payment services, First Data serves more than two million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services. For more information, please visit the company's web site at www.firstdatacorp.com.