Tier Technologies Rebrands as Official Payments Holdings

January 4, 2012

Tier Technologies, a provider of electronic payment solutions for the biller direct market has completed its name change to Official Payments Holdings. The name change was previously approved by shareholders. Effective Wednesday, January 4, 2012, Official Payments Holdings, Inc., will trade under the new Nasdaq ticker symbol "OPAY". Official Payments Corporation remains a wholly owned subsidiary of Official Payments Holdings, Inc.

"Adopting our new name completes the transition to a company that is singularly focused on providing enhanced payment solutions," said Alex P. Hart, President and CEO. "Most of our clients and customers have known us by our Official Payments brand for years. This new corporate name both simplifies and strengthens our branding and builds on our established market leadership."