eConnect Strategically Allies With eFunds to Participate in Projected Trillion Dollar Industry of Global Internet Cash Payments
LOS ANGELES--(BUSINESS WIRE)--Jan. 31, 2000--
eConnect Acquires PowerClick to Drive Hits to Country
Internet Cash Portal Sites
eConnect (OTC BB:ECNC) has strategically allied with eFunds Corp., a subsidiary of Deluxe Corp. (NYSE:DLX), to aggressively establish a leading position in the projected trillion dollar global Country to Country Internet cash payment industry.
eConnect through the licensing of the eFunds' CONNEX(TM) on IBM, and CONNEX(TM) Management System is presently developing the additional revenue generator of acting as a third party host processor(eConnect Dominican Republic SA) which will drive Dominican Republic originated incoming ATM card with PIN Internet cash payment transactions, and also standard transactions originating from Dominican Republic retail walk in locations.
The same policy will be followed in future expansions to eConnect Ireland, eConnect Hong Kong and eConnect Australia. RGTecq will provide the Linux Transaction Server for the front end processing.
eConnect has formed a strategic alliance with RGtecq Inc., a company newly formed by the principals of Rogel Technologies, to continue development of the Linux Transaction Server (LTS) and to provide real time business to business linkage between the initially targeted Internet Cash Portals of the United States, Dominican Republic, Ireland, Australia and Hong Kong.
Businesses will enter the Internet Cash Portal (Hubs) sites to be sponsored to receive Internet cash payments by ATM card and PIN and also to receive credit card swiped purchases. Consumers will enter the Internet Cash Portal sites to learn how to order their free eCashPad and to determine which merchants are available for payment by an eCashPad.
Internet Cash Portal revenues will be generated from four sources: merchant sponsorship fees, merchant listing fees, merchant display advertising fees, and merchant Internet Cash Portal transaction fees.
The initial Internet Cash Portals will enable consumers in five countries to effect Internet Cash Payments by ATM card and PIN to respective web businesses Country to Country in real time.
Each country will feature an Internet Cash Portal site which will all be linked to each other with the goal of Country to Country Internet Cash payments by ATM card and PIN, initially between the United States, Hong Kong, Australia, Dominican Republic and Ireland whereby business to business Internet cash payment transactions by ATM card and PIN will be effected. RGtecq will provide continued support of the real time links between the Linux systems in each country which are driving the Internet Cash Portal sites' transactions.
In addition, eConnect has recently acquired powerclick.com, with a present revenue generating click inventory of 5,000,000 monthly hits. PowerClick will direct massive hits to the Internet Cash Portals and to the eConnect existing web sites.
The ePocketPay presently being developed with Pilot Island, will enable wireless access to Internet Cash Portal portals and Country to Country Internet Cash Payments by ATM card and PIN. The eCashPad will be given away by eConnect to consumers visiting the Internet Cash Portal sites.
Safe Harbor: Certain statements in this news release may contain forward looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject too the safe harbor created by those sections. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future places and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
CONTACT:
eConnect/Prima Capital
Elias, 800/600-8599
efunds.com
deluxe.com
e.connect.cc
KEYWORD: CALIFORNIA INTERNATIONAL ASIA PACIFIC LATIN AMERICA
UROPE
BW0016 JAN 31,2000
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