Registry Magic Launches World's First Bluetooth Consumer Payment Network
Product Suite Transforms Existing Retail Infrastructure and Customer Cell Phones Into Secure Credit Network
BOCA RATON, Fla.--(BUSINESS WIRE)--Jan. 2, 2001-- Continuing in its charge to become the premier provider of customer interface solutions, Registry Magic (Nasdaq:RMAG - news) today announced the inception of its Bluetooth driven Consumer Payment Network. Leveraging Registry Magic's patented Biometric Access Security System (BASS) authentication and authorization services, a customer's cell phone now becomes the most secure credit card available, while affording the convenience of being a ``one-stop'' device with which to perform everyday consumer interactions such as conducting purchases, inter-person communication, and identity validation.
``In essence, your cell phone replaces your wallet,'' said John Falcone, Senior Vice President of Technology and Business Development, ``and, more importantly, by using our network incorporating the BASS security infrastructure, your credit cards and identity simply cannot be stolen and used by someone else.''
By working with leading cell phone manufacturers such as Ericsson, Motorola, and Nokia, Registry Magic will ensure that all Bluetooth-enabled cell phones will be capable of functioning within their Consumer Payment Network seamlessly, with no additional hardware or software necessary on the cell phone. This is in sharp contrast to other current alternative payment methods, such as Subscriber Information Module (SIM) chips and ``Smart Cards''. Our Consumer Payment Network will run in conjunction with cards such as MasterCard, Visa, and American Express, thereby eliminating the need to change a merchant's current payment processing system.
In order to facilitate the deployment of its Consumer Payment Network, Registry Magic plans to offer its patented Wireless Adapter Module not only to Point-of-Sale retailers, but also to other customer interface locations, such as hotels and airports. This device enables wireless TCP/IP networking, Bluetooth accessibility, and connectivity to Registry Magic's Consumer Payment Network without the need to alter existing hardware or software applications, thereby giving retailers a mechanism to retrofit and leverage their existing infrastructure without potentially violating any warranties.
``We believe our Consumer Payment Network is the first consumer-based commercially viable use of Bluetooth technology, as opposed to the Personal Area Network applications currently being shown,'' added Falcone, ``and demonstrates the true impact that Bluetooth will have on consumers' everyday lives. This offering confirms Registry Magic's position in the forefront of the emerging Bluetooth marketplace.''
About Registry Magic, Inc.
Registry Magic (Nasdaq:RMAG - news), is a leader in the commercialization and integration of Bluetooth, wireless, and speech technologies. The company's offerings lead the wireless evolution by linking independent mobile devices with one platform for the management of personal information via point-of-sale systems and open standards-based APIs. For more information, please visit registrymagic.com.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements. Readers are cautioned that such forward-looking statements involve risks and uncertainties including without limitation the general risks associated with the intense competition and rapid technological change characteristic of the computer telephony and speech technology markets. The forward-looking statements contained herein speak only as of the date of this release and are subject to risks set forth in Registry Magic' reports filed with the Securities and Exchange Commission. Registry Magic expressly disclaims any obligations or undertaking to publicly release any updates or revisions to any such statement to reflect any change in expectations or any change in events, conditions or circumstances on which any such statement is based.
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Contact:
Registry Magic, Inc., Boca Raton
Amy Palmatary, 561/994-3223
info@registrymagic.com |
