S.W, WOWWW!!! MRTO: New PC Tool to Make Internet Shopping More
Safe and Accessible--MOLpay Lowers Transaction Fees for Merchants--
BOCA RATON, Fla.--(BUSINESS WIRE)--Oct. 5, 1999--Shopping online
will be more accessible and safe for consumers, at greatly reduced
transaction costs for merchants, with a first-of-its-kind personal
computer accessory unveiled today. MOLpay, by MerchantOnline.com
(OTC BB:MRTO), was shown for the first time at the Electronic Commerce
World 1999 Conference underway October 4-7 in Orlando, Florida (please
visit booth 1017, Orange County Convention Center).
MOLpay combines MerchantOnline's revolutionary software with an
ATM/debit/credit card swipe device by Innovonics, Inc.--similar to
those in many retail stores--that plugs into the keyboards of personal
computers. The device and software open the doors to Internet shopping
for the estimated 40% of the nation's consumers who do not use credit
cards. Their ATM and debit cards will work just as well, and with
increased security.
"With MOLpay, these individuals will finally be able to join the
exploding eCommerce population, providing eMerchants with a new source
of sales at very low processing costs," says MerchantOnline.com CEO
and Chairman Tarek Kirschen. MOLpay's magnetic stripe reader, PIN pad
and built-in encryption allow for the secure entry of the customer's
PIN for instant payment. Credit card users also will be more protected
with MOLpay because the numbers will not have to be keyed in on order
forms.
"This inexpensive service is expected to be a big boost to
merchants and consumers jumping onto the eCommerce bandwagon," says
Kirschen. Because credit card numbers are read magnetically, banks
will charge eCommerce merchants using MOLpay "card present" processing
fees of 1.5% instead of the traditional 2.5%-5% "mail order/telephone
order" rates. Those processing fees are even less for ATM or debit
cards. "ATM and debit cards can finally be used for eCommerce," says
Kirschen. MOLpay's usage is expected to be far-reaching, not only for
individuals shopping from home or office, but for businesses such as
book and music stores, airlines, hotels, and clothing. MOLpay will be
useful in business-to-business transactions, auctions, bill payment
and for e-trading where clients will be able to make instant stock
transactions without having to wait for money approvals and wire
transfers. MOLpay could greatly enhance the bottom line for high
volume e-commerce retailers. Therefore the client prospects for
MerchantOnline.com's technology shall be the highest volume e-commerce
retailers which include Amazon.com (Nasdaq:AMZN) , Yahoo
(Nasdaq:YHOO0, Ebay (Nasdaq:EBAY), Ubid (Nasdaq:UBID), PriceLine.com
(Nasdaq:PCLN), and Dell Computers (Nasdaq:DELL).
Founded in December, 1997, MerchantOnline.com, Inc.(OTC BB:MRTO),
is a leader in providing a one-stop solution for merchants who want
to set up and maintain a store to sell merchandise on the Internet the
world's fastest growing marketplace. MerchantOnline.com offers
merchants reliable, safe and cutting-edge eCommerce solutions from
simple-to-use shopping cart software applications to real-time credit
card processing.
For more information, please visit our website at
www.MerchantOnline.com.
NOTE TO EDITORS: In the product name MOLpay* noted in this news
release, there is an asterisk after the y. This symbol may not appear
properly in some systems.
--30--law/mi*
CONTACT: MerchantOnline.com, Boca Raton
Elaine Fitzgerald
or John Massey
954/345-5342 |
