BOCA RATON, Fla.--April 27, 2001--MerchantOnline (OTCBB:MRTO), a provider of secure transaction networks and devices for credit cards and debit cards, announced a restructuring of its senior management. The company appointed former Visa U.S.A. Inc. senior vice president James Degracia as its Chief Executive Officer and President. While at Visa, Degracia was responsible for all e-commerce activities in the US Region. Degracia joined MerchantOnline`s board as a director last year. Robert Hausman, formerly the MerchantOnline Chief Administrative Officer is now Chief Operating Officer. Mr. Hausman`s previous position was one of several executive positions eliminated. Founder Tarek Kirschen resigned as Chairman, CEO, President and Director.
Degracia was a senior vice president with Visa U.S.A. Inc. in 1998-1999 where he initially developed smart card strategies and programs before becoming responsible for all e-commerce activities. In the last year, Degracia consulted for several young technology companies. Most recently, he developed the marketing and business integration capabilities for UNX, Inc., an online broker/dealer that is a market leader in advanced securities trading capabilities for institutional traders. Prior to joining Visa, Degracia was vice president and technology leader for American Express where he worked with businesses to find applications for secure e-commerce technology and multi-application smart cards. Degracia was vice president and director in various marketing roles with Household Credit Services in Salinas, California, from 1990 to 1996, and he was product manager with Discover Card Services in Riverwoods, Illinois from 1987 to 1990. He earned his B.S. in Business Administration from the University of Southern California.
Founded in December 1997, MerchantOnline provides a secure transaction network that enables business and consumers to use one payment system for both their real world and virtual world needs utilizing credit card, ATM/debit cards and other payment programs. Except for historical matters, the matters in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements reflect assumptions and involve risks and uncertainties which might affect the Company`s business and prospects and cause actual results to differ materially from these forward-looking statements. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including those risks and uncertainties detailed in the Company`s Quarterly Report on Form 10-QSB for the quarter ended January 31, 2001 filed with the SEC.
MerchantOnline, Inc., Boca Raton
Robert L. Hausman, 561/864-6000 ext. 1112