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NextCard and Paytrust.com to Provide Online Bill Payment Services; Companies to Launch Co-Branded NextCard Bill Center Powered by Paytrust

Business Wire, March 21, 2000

Business & Technology Editors

SAN FRANCISCO and PRINCETON, N.J.--(BUSINESS WIRE)--March 21, 2000

NextCard, Inc. (Nasdaq: NXCD), the leading issuer of credit cards on the Internet, today announced a strategic relationship with Paytrust.com(TM) that will provide NextCard(R) cardholders the opportunity to receive, review, pay and organize all of their bills online. This agreement brings together two innovators in Internet financial services and will make available a co-branded version of Paytrust's online bill management service to NextCard's more than 250,000 cardholders. The agreement also includes a strategic equity investment by NextCard in Paytrust.com.

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"Through our partnership with Paytrust.com, the NextCard Bill Center will provide our customers a comprehensive online bill management service that complements NextCard's existing suite of online payment options," said Thomas Byrne, vice president of e-commerce at NextCard. "We are excited about the opportunity to collaborate with the leading Internet payments provider. In addition to providing a complete Internet-based payment solution, our companies share a mutual vision for driving fundamental change within online financial services and an absolute commitment to providing a seamless, value-added customer experience."

Under terms of the agreement, Paytrust.com and NextCard will collaborate to develop the NextCard Bill Center specifically for NextCard users at My.NextCard.com, its online customer service site. Using its patent-pending bill management technology, the Paytrust service is compatible with any biller and any bank, and can accommodate both paper and electronic bills to deliver complete, consumer-focused electronic bill presentment and payment (EBPP). With the Paytrust service, NextCard cardholders will be able to view and pay all of their bills online.

"Partnering with NextCard furthers our co-branding strategy by delivering Paytrust.com to an established base of Internet-savvy consumers who are looking for more e-convenience services," said John Yapaola, executive vice president of business development for Paytrust.com. "NextCard users currently can receive and pay their NextCard bill via the My.NextCard.com Web site, and now through this alliance they will be able to receive and pay 100 percent of their bills online."

In a separate press release issued today, Paytrust.com announced a wireless bill delivery and payment service.

NextCard, Inc.

NextCard, Inc. (www.nextcard.com), is considered the leading issuer of consumer credit on the Internet. Launched in 1997, the company was the first to offer instant online credit card approval, a choice of customized credit card offers, personalized PictureCard SM designs and exceptional online customer service. NextCard is committed to providing the most robust consumer shopping experience on the Internet and has continued to innovate with its complete GoShopping!SM Web site, NextCard Concierge(SM) online wallet, and comprehensive rewards program.

NextCard is consistently a top ten online advertiser, operates a network of over 40,000 affiliates and has exclusive card relationships with leading brands, including Amazon.com, priceline.com and DILBERT. It was also ranked the No. 1 credit card brand Internet consumers would consider for use according to ZDNet's 1999 BrandIQ research study.

NextCard was named a Top 50 Financial Web site by Money magazine, a HOT 100 Company by Upside magazine and one of The Standard 100 most important and influential companies in the Internet economy by The Industry Standard in 1999. NextCard also owns a minority stake in Flooz.com, the premier online gift currency.

About Paytrust.com

Using proprietary technology, Paytrust.com can deliver 100 percent of a subscriber's bills online. Paytrust.com subscribers receive bill notifications and reminders via email rather than physical mail, and they can review their bill information from anywhere they have access to the Internet. Paytrust.com can issue payments directly from any check writing account designated by a customer, provide information that enables a customer to balance their checkbook and provide data that a customer can download into their personal financial management software.

Paytrust.com is the flagship service of PAYTRU$T, Inc., a privately held company based in Princeton, New Jersey. Founded in October 1998, the company is financially backed by investors including American Express, AT&T Ventures, GE Equity, NextCard, SOFTBANK Venture Capital, and Spectrum Equity Investors. More information on the company can be found on its Web site located at http://www.paytrust.com or by calling 1-877-PAYTRUST.

Paytrust, Paytrust.com, and SmartBalance are trademarks of

PAYTRU$T, Inc.

THE SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Information contained herein as to NextCard's expectations and goals are forward-looking statements. Actual results could differ from those projected in these statements due to portfolio characteristics, economic conditions, competition in the industry, and other factors detailed from time to time in the company's Securities and Exchange Commission filings. Trademarks are the property of their respective owners.

Business Services Industry

NextCard and Paytrust.com to Provide Online Bill Payment Services; Companies to Launch Co-Branded NextCard Bill Center Powered by Paytrust

Business Wire, March 21, 2000

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