U.S. Wireless Data and Creditel Combine Forces to Enable Payment Transactions on Mobile Phones
NEW YORK--(BUSINESS WIRE)--April 5, 2002--U.S. Wireless Data, Inc. (USWD) (OTC: USWE) the leader in transaction delivery and gateway services for the payment-processing industry, has signed an agreement with Creditel(TM), a leading wireless technology and turnkey business-services provider, to introduce PowerSwipe(TM) and PowerPay(TM), two new payment products for mobile phones.
Under the agreement, USWD's Synapse(SM) service will be the payment gateway for transaction processing and will provide distribution of these Creditel products and services in the merchant-services marketplace.
Creditel's PowerSwipe is a small card-reading device that a merchant can attach to a mobile phone. It adds credit card terminal capabilities, providing a mobile merchant with a lightweight, rugged, all-in-one device. "The potential applications for mobile businesses, such as delivery services and transportation companies are enormous," said Gary Walker, Vice President of sales and marketing for Creditel. Sleek and form-fit, the PowerSwipe quickly and securely transmits information from a magnetic stripe or smart chip. Field trials of the PowerSwipe attachment will begin in the second quarter of 2002.
PowerPay is an easy-to-use alternative method of using a mobile phone to enter credit card information. Rather than swiping the card, a merchant enters the credit card information on the keypad. This key-entry payment service is currently in field trials. For both products, the Synapse platform provides a gateway to route transactions between the merchant's mobile phone and the bankcard processor.
"The ability to process transactions through mobile phones is a tremendous opportunity for U.S. Wireless Data," said Chairman and CEO Dean M. Leavitt. "PowerSwipe is especially well-suited to mobile businesses where payment options have been limited in the past. This solution provides a multipurpose payment device, secure transactions, and the lowest transaction processing costs."
"Synapse gateway services allow us to launch the PowerSwipe device and PowerPay service with industry-wide opportunities for processor relationships," added Walker. "U.S. Wireless Data has more than 150 marketing agreements with the merchant service providers and independent sales organizations that provide bankcard services to businesses. PowerSwipe, PowerPay, and the Creditel platform will open a range of new wireless capabilities that can be offered to their clients."
"The unique combination of U.S. Wireless Data's established Synapse service and customer relationships, with Creditel's innovative products, positions us to capture a significant portion of this expanding market," said Georges Elias, Chief Executive Officer for Creditel. "Our products will help businesses become more competitive, efficient and achieve a higher lever of customer satisfaction, all while reducing their overall costs."
ABOUT U.S. WIRELESS DATA
U.S. Wireless Data, and its subsidiary NXT, make credit card and ATM transactions work faster and more economically. USWD connects credit card processing companies to their merchant clients. Using wireless and landline technology, USWD provides improved transport, data translation, and value-added processing. In addition, by enabling wireless point-of-sale terminals, USWD adds speed and mobility that has been unachievable in the past. USWD now handles more than 500 million transactions each year through its centralized computer center and nationwide network. Further information is available at www.uswirelessdata.com.
ABOUT CREDITEL(TM) - Mobilizing Business(TM)
Creditel(TM) offers businesses of all sizes secure, affordable and easy-to-use wireless transaction solutions and an interactive website designed to immediately increase profitability and enhance productivity: The Creditel(TM) MTS(TM) (Mobile Transaction System).
The MTS supports payment and order processing, data transmission and information exchange anywhere via an Internet-enabled cellular phone. It delivers a versatile platform that supports multiple wireless carriers, mobile devices, data delivery methods and applications. The combination of the Creditel MTS value-added accessories and business enhancement tools positions the company at the forefront of the explosive union of enhanced business services and wireless technology.
Please visit www.creditelcorp.com for more information |
