Equifax, Direct Systems Inc. To Jointly Market Online Refund Authorization For Retailers

ATLANTA, January 14, 1998 -- Equifax and Direct Systems, Inc., today announced they will jointly market and distribute online refund authorization services to the retail sector.

Equifax Retail Solutions currently provides check authorization and verification services to over 138,000 retail locations, significantly reducing the losses suffered by the retail sector due to bad checks. 4/Refund Control from Direct Systems, Inc., provides a similar online authorization and verification service to reduce losses retailers currently suffer due to fraudulent returns.

“This relationship with Direct Systems will allow us to offer our customers a more comprehensive solution for addressing retail fraudulent activities which continue to escalate,” said Tom Gordon, senior vice president and general manager, Equifax Retail Solutions.

4/Refund Control represents a significant step forward in implementing new technology in the retail environment. Retailers lose billions of dollars every year as a result of refund fraud. Through the application of state of the art artificial intelligence software, and a powerful database of information on consumer refund activity, 4/Refund Control is quickly able to identify potentially fraudulent refund transactions, providing retailers with the information required to either approve or deny the refund.

“Direct Systems is excited by the opportunity to expand the client base of 4/Refund Control. This alliance will provide retailers with access to new technology and strategies that will dramatically improve the effectiveness of the loss prevention programs already in place,” said Timothy L. Denton, president of Direct Systems, Inc. “Equifax is the worldwide market leader in information services and a company like ours in an emerging technology couldn’t ask for a better ally.”

Equifax will distribute 4/Refund Control through existing sales and marketing channels to retail stores currently connected to Equifax and using check verification and other Equifax services.

Equifax Retail Solutions is a leading provider of check guarantee, verification and other information-based decision solutions for retailers, authorizing more than $19 billion worth of checks around the world in 1997. Equifax is a global leader in providing information, processing, consulting and software solutions that facilitate and enhance buyer-seller transactions worldwide. The company serves businesses in the banking, finance, retail, credit card, telecommunications/utilities and health care administration industries. Equifax is changing the shape of global commerce through growth and innovation, driven by technology and people. It operates globally in 17 countries, with sales in 40 countries. Founded in 1899 in Atlanta, Equifax (NYSE: EFX) today has 10,000 employees around the world. Revenues for the 12 months ended September 30, 1997, exceeded $1.3 billion. Visit the company’s Internet web site at http://www.equifax.com.