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Non-Tech : E*Trade (NYSE:ET)
ET 16.43-0.5%11:56 AM EST
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To: Phil Tran who wrote ()3/21/2000 8:50:00 PM
From: ecommerceman   of 13953
 
Bull Market Report is favorable, also...

E*TRADE PURCHASES ATM NETWORK

E*TRADE Group, Inc. (EGRP) last Monday announced that it has signed a
definitive agreement to acquire Card Capture Services, Inc., the largest independent network of centrally-managed automated teller machines
(ATMs)
in the U.S. With Card Capture Services' 8,500 machines located in 48
states and three countries, E*TRADE will now be able to provide
customers
with a nationwide branded electronic physical presence to conduct an
expanding array of financial transactions. The acquisition will be
accounted for as a purchase. E*TRADE further plans to leverage these
ATMs
to create a network of Financial Services kiosks that would serve as a
physical delivery mechanism for cross-selling the Company's expanding
offering of financial products and services.

COMMENT: This is huge news. E*TRADE has removed one of the major
obstacles to online financial services. They now own an ATM network
that
their customers can use. They seem determined to expand the network
further. E*TRADE has said that they want to expand the functionality of
the ATM's so that more financial services can be done through the ATM.
They now have direct connections with customers without the overhead of
a
banking network -- a very shrewd and cost effective move. This will
also
help to diversify the company's revenue base so that they have more fee
income from other bank's customers using the ATMs.
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