MerchantOnline.com Develops New E-commerce Product,''MOL-PAY''
Enables ATM/Debit Card Transactions Online
BOCA RATON, Fla.--(BUSINESS WIRE)--July 26, 1999--MerchantOnline.com Inc. (OTC BB:MRTO - news) announced Monday that it has developed
proprietary software to successfully integrate the Innovonics PC.2000 card reader to create a new MerchantOnline.com e-commerce product, ''MOL-PAY.''
MOL-PAY will enable merchants to accept ATM/Debit cards in a fraud protected card swipe transaction using a personal identification number (PIN) that supports the Data Encryption Standard (DES) algorithm utilized at ATM machines millions of times per day. Tarek Kirschen, president and chief executive officer of
MerchantOnline.com, stated, ''Forty percent of the population does not have a credit card and is unable to participate in a world of Internet commerce. As the first e-commerce provider to offer merchants the ability to accept ATM/debit cards as a method of payment, we look forward to reaping the benefits of this huge, virtually abandoned and untapped market.''
MerchantOnline.com is a total, one-stop e-commerce provider offering real-time credit card processing, checks online, shopping cart services and secure hosting at prices unmatched within the industry.
Forward-looking statements in this release are made pursuant to the ''safe-harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products,
increased levels of competition for the company, new products and technological changes, the company's dependence upon third-party suppliers, intellectual-property rights and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.
Contact:
MerchantOnline.com, Boca Raton
Tarek Kirschen, 561/395-3585
info@merchantonline.com
www.merchantonline.com
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