NEWS NEWS
ConSyGen Announces New Mobile Commerce Solution for Consumer to Business
ConSyGen Also Announces Its Mobile Commerce Portal Initiative and Several Other
R&D Projects Underway
TEMPE, Ariz., Mar 2, 2000 /PRNewswire via COMTEX/ -- ConSyGen (OTC Bulletin
Board: CSGI) www.consygen.com, announced today that it has developed a unique
Internet merchant software solution, "BizPay," which enables businesses to
accept the "new" web-based forms of payment.
Industry analysts predict that mobile commerce is poised for exponential growth
over the next few years. According to industry experts, the global number of
wireless data users will increase from approximately 300 million to 1 billion by
the year 2003. Estimates show that by the year 2001, 50 million of these users
will own a commerce-capable wireless phone. According to a recent study released
by Strategy Analytics, the mobile commerce market could reach $200 billion by
the year 2004.
Jeff Bezos, chief executive of Amazon.com, speaking this past Tuesday via
satellite to the Cellular Telecommunications Industry Association meeting in New
Orleans, LA. stated, "It's [mobile commerce] going to be the most fantastic
thing that a time-starved world has ever seen." Looking 10 years into the
future, Bezos predicted that all of Amazon's revenue may one day come from
wireless purchases.
Currently, several Internet-based companies are providing the facilities and
infrastructures that allow consumers to make "micro" payments via e-mail from
such traditional devices as personal computers as well as from mobile (wireless)
devices like cellular telephones and Personal Digital Assistants (PDA). One such
solution, PayPal.com, is the number one payment service on eBay, the world's
largest auction site. ConSyGen views these types of payment solutions as
convenient for consumer-to-consumer payments but not an adequate solution for
consumer-to-business commerce.
ConSyGen supplies what is lacking in these innovative payment solutions; a
method for providing merchants with the full range of accounting, auditing,
reconciliation and inventory controls when accepting these "e-mail" forms of
payment. ConSyGen's "BizPay" and "BizPay Mobile" software solutions (a component
of ConSyGen's PrecisionCommerce software) address these recognized shortcomings
and will provide complete accounting and reconciliation solutions to merchants
wanting to accept these web-based and wireless-based micro payments.
John Roskelley, ConSyGen's Vice President of Business Development stated,
"ConSyGen will introduce its seamless software product for e-commerce through
partnerships and affiliates. This software release will be followed by the
release of its wireless software solution, 'BizPay Mobile,' which will be
available for use on the Palm OS operating system."
Roskelley went on to say, "Mobile commerce, and its facilitation of these
'micro' payments, is not only the next great frontier for commerce, it completes
the entire Internet commerce equation. In a few years, these methods of payment
will be so common place that we'll forget there was once a time we actually did
it differently. For these reasons, ConSyGen is very focused on the merchant side
of these solutions and is confident it has a head start on other companies
planning on participating in this arena."
Jason Genet, ConSyGen's Chief Operating Officer stated, "The industry's goal is
a full service Internet in which one has the same level of service with wireless
devices as one has with wired devices. This level of service has yet to be
offered. We believe that our 'BizPay' and 'BizPay Mobile' solutions for
merchants are going to significantly contribute towards achieving that goal.
Also, ConSyGen is working on several projects including a proprietary Browser
Wallet to better facilitate payments on the Internet. ConSyGen will begin to
introduce its merchant commerce solutions for the web in the 2nd quarter of
2000."
ConSyGen's other R&D projects underway are in various stages of completion, all
of which contribute to its E-commerce initiative. These projects include a
scaleable Linux compatible real-time micro-kernel operating system, a
template-based "store builder" software package and a Mobile Commerce Internet
Shopping Mall complete with risk analysis software for the merchants. This
unique risk analysis feature in its payment system module will support financial
institution risk managers.
One of ConSyGen's largest and most exciting software projects is the development
of a Mobile Commerce Solutions portal using ConSyGen's completely unique and
proprietary search engine, "PrecisionSearch." ConSyGen's portal will combine the
Yahoo! community approach with an extremely capable search engine. ConSyGen's
search engine will set the standard for search engines of the future. As with
ConSyGen's e-commerce engine, XML and VXML will be incorporated into these
technologies.
Genet concluded, "We feel these three revolutionary products PrecisionSearch,
BizPay and BizPay Mobile coupled with 'Mobile Commerce' will provide proof
positive that ConSyGen is a leader in the Internet Marketplace. In addition,
each one of these technologies represents a significant part of our Mobile,
Wireless and Micro Internet Commerce strategy. We welcome opportunities for
cellular phone manufactures, PDA manufacturers, Palm OS application developers
and Wireless Application Protocol (WAP) developers to partner with us. We also
will be looking to partner with progressive financial services companies to
assist ConSyGen with 'back-end' services."
Conference Call
ConSyGen will be sponsoring a conference call, to be hosted by Jason Genet, open
to the media and all investors today at 4:05 PM EST. to discuss corporate and
product developments. To participate, call (800) 720-5850 five minutes prior to
the start of this call. The call will be recorded and available for playback for
two weeks by calling the playback number: (800) 252-6030, access code 5762708.
Product or brand names used in this document may be trade names or trademarks.
Where we believe that there may be proprietary claims to such trade names or
trademarks, the name has been used with an initial capital. Regardless of the
capitalization used, all such names have been used in an editorial manner
without any intent to convey endorsement of or other affiliation with the name
claimant, except where expressly stated. All trade names and trademarks are
those of their respective companies.
ConSyGen's business is customer-driven, technology-influenced and
service-oriented, coupled with world-class software development. In order to
achieve the core company goals, various business units have the responsibility
for developing cohesive missions, quantifiable objectives and comprehensive
strategies. These business units include E-Commerce, Knowledge Mining, Internet
Services, and Business Products.
Forward-looking statements involve risks and uncertainties which may cause
actual results to differ materially from those projected in such forward-looking
statements. Factors which could affect results include the development of
competing or superior technologies, market awareness and acceptance of
ConSyGen's technology or products, overall market demand for conversion
services, the company's ability to attract and retain qualified personnel and to
protect its propriety information, and other risk factors set forth in the
company's SEC filings.
Contact: Jason Genet of ConSyGen, Inc., 480-394-9100; or Tom Pikoulas of HKT
Investor Relations, 480-446-8640, for ConSyGen, Inc.
SOURCE ConSyGen, Inc.
(C) 2000 PR Newswire. All rights reserved.
http://www.prnewswire.com
CONTACT: Jason Genet of ConSyGen, Inc., 480-394-9100; or Tom Pikoulas of
HKT Investor Relations, 480-446-8640, for ConSyGen, Inc.
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