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PassTime Announces Partnership with Peak5

November 29, 2007

Littleton, CO – PassTime USA and Peak5 (a Flatiron Financial Services company) announced a strategic partnership to incorporate Peak5's services into PassTime.

Peak5's loan servicing and collections can be coupled with the PassTime payment assurance solutions to provide an automotive dealer or finance company a comprehensive package, officials explained.

"We are extremely excited about our relationship with Peak5,” said Chris Macheca, Executive Vice President of Operations for PassTime. “They provide great services that will add to PassTime's commitment to offering a complete set of solutions, not merely a device."

The Peak5 servicing platform has been providing servicing and collections solutions to financial institutions for nearly 10 years, according to executives.

"Ensuring federal and state servicing and collections compliance, Peak5 manages all aspects of auto loan servicing and collections, insurance tracking, remarketing and payment processing to allow its clients to concentrate on their businesses instead of trying to track down missed payments," officials described.

"The Peak5 state-of-the-art service center in Metropolitan Denver is staffed with experts in servicing and collecting receivables to provide the highest level of support to its clients," executives continued.

Blake Willardsen, Peak5's Executive Vice President of National Sales, added, "The Peak5 complete servicing solution combined with PassTime's advanced technology is undeniably the best investment an automotive dealer or finance company can make to ensure the timely receipt and processing of customer payments."

"All too often an automotive dealership spends a significant amount of time and resources finding customers and collecting car payments. The PassTime devices and services promote timely and consistent car payments. Peak5 allows PassTime to offer a complete solution from generating payment codes, basic payment processing, reporting, and complete servicing and collections of PassTime accounts," officials indicated.

Stan Schwarz, Founder and CEO of PassTime noted, "This is the next step in our evolution of creating a ‘The Single Source Solution for our clients.’ With Peak5 service and the PassTime solutions, car dealers will finally have time to do what they do best: sell cars."

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