For Immediate Release

                 E-XACT ANNOUNCES AGREEMENT WITH ACS FOR ON-LINE
                     MERCHANT ACCOUNT APPLICATION PROCESSING

            SPEEDY MERCHANT(TM) TO PROVIDE REAL-TIME CREDIT DECISIONS

Lakewood, CO, September 20, 2000 - E-xact Transactions Ltd. (CDNX: EXZ.U), a
leader in the secure movement of real-time, mission critical financial
information, announced it has executed an agreement with ACS Merchant Services,
the 25th largest credit card acquirer in North America, to provide automated
merchant account application processing services for their internal and external
sales channels using E-xact's Speedy Merchant(TM) service.

Speedy Merchant is an on-line application service with real-time credit and risk
assessment, decisioning, and set-up of merchant accounts. The service is
customizable to an acquirer's business rules, and provides connectivity with
various third party credit and risk service bureaus for real-time assessment.
Built in a Windows environment, Speedy Merchant is easy to use and offers
private labeling for clients interested in brand extension. Providing an
automated means of collecting and transmitting complete applications, clients
are ensured a single point of input from any sales location into their credit
systems.

"We are excited to be implementing a private label product like Speedy Merchant.
The flexibility of E-xact's product will make it easier than ever to submit an
application and receive a real-time response. We look forward to utilizing the
expertise of E-xact Transactions, Ltd. to provide this solution to our
customers" said John Peterson, Senior Vice President of Information Systems for
ACS Merchant Services.

By using E-xact's automated application processing service, ACS will be able to
take advantage of an on-line tool that provides a secure, flexible, automated
solution for processing merchant account applications without the need for
change to internal credit policies or rules.

"We are very proud of our accomplishment of developing such a value-added
service for the credit card acquiring industry, and equally proud of the
opportunity to work with such a respected name in the industry as ACS Merchant
Services" said Ted Henderson, President and CEO of E-xact Transactions.
"Partners using our Speedy Merchant service can generate dramatic bottom line
results through increased revenues from greater sales efficiencies and can
consider the impact of automation within their credit operations."





ABOUT E-XACT TRANSACTIONS, LTD.

With customers throughout the U.S. and Canada, E-xact Transactions specializes
in the secure, real-time movement of mission critical financial information.
E-xact offers its clients an on-line service for real-time assessment and
decisioning for automated processing of merchant account applications through
Speedy Merchant. E-xact also provides real-time transaction processing services
for IP based points-of-sale. E-xact's popular online transaction software offers
a robust e-commerce solution for companies selling goods and services in a
variety of settings. Built with flexible architecture, E-xact's services can be
easily integrated into a wide range of platforms and include a suite of
browser-based, value-added reporting tools that enable clients to better analyze
and manage their businesses in real time.

Founded in Vancouver in 1998, E-xact Transactions Ltd. re-domiciled to the state
of Delaware in July of 1999 and established U.S. headquarters in Lakewood, CO in
December of 1999. E-xact continues to operate its international office in
Vancouver. Public trading of its common stock commenced in March 2000 on the
Canadian Venture Exchange (CDNX:EXZ.U).

ABOUT ACS MERCHANT SERVICES

Founded in 1995, ACS Merchant Services, Inc. is led by Chairman/CEO Thomas Rouse
and President Rusty Shaffer. Recently, GTCR Fund VII recapitalized ACS Merchant
Services, Inc. (ACSMS), one of the nation's fastest growing processors of credit
and debit transactions, with a commitment of more than $100 million. ACSMS will
soon be changing its name to TransFirst. One of the largest providers of
merchant bankcard services to community banks across the United States,
TransFirst processed $2.35 billion in annual credit card volume in the fiscal
year ending June 30, 2000. The company employs more than 100 people at its
Boulder, CO headquarters and serves nearly 400 community banks and 35,000
merchant customers around the United States.

CONTACTS:

Stephanie Fischer,  E-xact Transactions, Ltd.,  (303) 716-7090 x204
Rusty Shaffer, TransFirst Inc., (303) 402-8109