Why didn't they say WHICH brokerage firm?
I know they will be launching a brokerage firm deal called cash2trade.com but WHO are they dealing with? That is what drives me insane about Tom's PRs..so much hidden info..Lay it on the line baby!!!
FM
edit- brokerage is probably one of these - yp.yahoo.com
eConnect to Test Implementation of SafeTpay's Instant Cash Credit Transactions for Internet Stock Brokerage Accounts
LOS ANGELES, Sep 16, 1999 (BUSINESS WIRE) -- eConnect (OTC BB: ECNC)
has entered into a strategic alliance with a stock brokerage firm to
Beta test instant cash credit transactions for Internet stock brokerage
accounts using ATM cards with PIN. Delivery of the ePIN devices to a
Beta test group is scheduled for October 18.
The transaction will be initiated by the client clicking the SafeTpay
button located on the brokerage firm's web site, swiping an ATM card
and entering the bank-assigned PIN utilizing eConnect's ePIN hardware.
SafeTpay is an eConnect service that will enable instant cash credit to
the client's new or existing brokerage account. This will enable the
client to have instant cash credit for the purchase of securities.
Conversely the brokerage firm will be able to instantly transfer funds
to the client's bank for early or regular settlement. In addition,
instant cash credit can be transferred for margin calls and options.
Upon successful completion of the Beta testing, eConnect will join with
the brokerage firm to offer this service to Internet stock trading
firms under the market name of Cash2Trade.com. Support for Cash2Trade
will be supplied by SafeTpay.
"We will be distributing free ePIN's to a select group of our
artauction.com customers. They will then be invited to open their
instant cash brokerage accounts with our partner by simply using their
ePIN from home and paying with their ATM cards and PIN. This service
provides a substantial savings for brokerage clients who can now avoid
bank wire and overnight courier fees. In addition, the set up costs for
the brokerage firm are greatly reduced," stated an eConnect
spokesperson.
About eConnect
eConnect is focused on Internet and other consumers using financial
cards and inexpensive equipment from homes, offices, and mobile
locations to make purchases or pay bills. eConnect has developed
SafeTpay to enable that service, and has acquired artauction.com and
econbid.com to generate revenues and to act as test sites for SafeTpay.
eConnect has developed EzyShop, a kiosk approach for non-Internet
consumers. eConnect has developed the first Linux- based transactional
server and a host processor that will drive these transactions
originating from eConnect hardware. eConnect generates a merchant fee
per transaction.
Securities Litigation Reform Act of 1995. Management 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.
Copyright (C) 1999 Business Wire. All rights reserved. |
