Press Release:
eConnect Projects Substantial Revenues in 2000 From JVC Secure eMail Service.
Business Wire - August 12, 1999 07:15
LOS ANGELES--(BUSINESS WIRE)--Aug. 12, 1999--eConnect (OTC BB:ECNC), fully reporting, has announced that its wholly owned subsidiary Rogel Technologies is now BETA testing a fully functioning Secure eMail Service for Japan JVC, who will aggressively market and sell the service to Pacific Rim companies.
eConnect will receive a royalty of $2.50 per month per employee who is using the JVC Secure eMail Service. JVC has targeted February 2000 as the start date due to concern over Y2K impacts.
JVC projects 2 million customers will be utilizing the JVC Benefits On Line Service by 2001. Customers will pay $19.95 per month for the general Benefits On Line Service and will pay an additional $5.99 per month for the Secure eMail Service. JVC is anticipating that numerous corporate customers will pay for the Secure eMail Service to cover many of their employees.
"Secure e-mail is greatly needed for many Pacific Rim companies as corporate espionage is at an all-time high," stated a JVC spokesperson for the $20 billion-plus electronics hardware company.
Rogel Technologies is presently providing Secure eMail Service for several government support organizations throughout the world whose identities need to remain anonymous to prevent hacker attraction.
"Rogel Technologies has been recently focused on our Internet Same-as-Cash(TM) payments by ATM card and PIN and we are extremely pleased at the level of software expertise and revenue-generating services that we acquired in our purchase of Rogel Technologies," stated Thomas S. Hughes, Chairman and CEO of eConnect.
eConnect consists of two Divisions: eGaming, which is focused on the development of both Internet and non-Internet gaming transactions through the implementation of Same-as-Cash(TM) payments by either ATM card and PIN for banked consumers and by the EzyCard(TM) for non-banked consumers. Both types of transactions are enabled by proprietary eConnect equipment and Host processor.
eGate, the second Division, is focused on the development of secure Same-as-Cash Internet transactions; EzyShop, the usage of the eConnect equipment to generate self-serviced purchases from consumers sitting in waiting rooms and shopping from national catalogs; and EzyCard, a value-added card to be used by non-banked consumers using the publicly located eConnect equipment to effect self-service pay bill payment, catalog purchases, and legally permitted self-service lottery transactions.
This news release contains forward-looking statements subject to the safe harbor act created by the Securities Litigation Reform Act of 1995. Mangement cautions that these statements may include projections and estimates of future performance and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of factors such as changes in the marketplace, unanticipated competitive activity, a downturn in economic conditions, or delays in product development.
CONTACT: For eConnect:
Carnegie Cooke
Anita Goldberg, 800/262-2331, investor relations
or
For ET&T:
Prima Capital
Elias Argyropoulos, 800/600-8599 |
