eCONNECT REPORTS ONGOING PROGRESS WITH FIRST-EVER INTERNET CREDIT CARD-SWIPED TRANSACTIONS AT HOME
For Immediate Release
Contacts:
Media:
Sitrick And Company
Roger Gillott
310-788-2850
Investors:
Manny Vavolizza
eConnect
845-626-3732
eCashPad Transactions from England, U.S. Indicate
Fundamental Shift for Internet Payment Solutions.
SAN PEDRO, CA - June 18, 2001 - eConnect (OTC BB:ECNC) said today that is it pleased with progress toward rolling out the first-ever system for performing Internet credit card transactions by swiping a credit card at home using its currently distributed eCashPad technology.
"We are pleased with the initial eCashPad orders that we are receiving and the forward progress of first-ever international home credit card-swiped transactions from Surrey, England, and the United States, to be followed later this quarter by the first-ever home ATM card with PIN cash payments," said Thomas S. Hughes, Founder, Chairman and CEO of eConnect. "We feel that eConnect is well positioned to strongly participate in the new Personal Encrypted Remote Financial Electronic Card Technologies (P.E.R.F.E.C.T.), particularly with the recent approval by the Nevada State Legislature for Internet casino gaming that will demand cash payments. The eCashPad can deliver these payments by using an ATM card swipe with PIN entry online debit transaction, which results in an instant cash payment over the Internet."
The eCashPad represents a shift in Internet commerce whereby home devices will enable credit-card payments and ATM card with PIN entry cash payments. Additionally, eConnect is in negotiations to test Internet eCashPad originated Smart Card Micro payments in the 10-cent to 25-cent range which can be used to listen to a song or to read an article.
eConnect Inc. is focused on delivering next-generation e-payment solutions. The Company develops proprietary hardware, software, and transaction processing services.
This news release may contain forward-looking statements under the Private Securities Litigation Reform Act of 1995, including statements relating to the company’s expectations regarding the integration of docHarbor into the Document Solutions business unit. These forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements.
# # #
Back...
