Company Press Release
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SOURCE: eConnect
eConnect Host Processor Center to Drive ATM Card with PIN Internet Cash Orders From and Within the Dominican Republic
SANTO DOMINGO, Dominican Republic, and SAN PEDRO, Calif., June 23
/PRNewswire/ -- eConnect (ECNC) announced that its eConnect Caribbean, SA unit
is now installing and integrating its Dominican Republic Host Processor
Center, comprising the hardware, software and sales infrastructure needed to
support Bank Eyes Only(TM) transactions originated by Dominican Republic
consumers. Pictures of the Center can be seen at www.eConnectholdings.com .
``Dominican Republic consumers will be able to access e-commerce sites of merchants there and in the US, and pay for purchases via eCashPad,'' said Paul Egan, President of eConnect Caribbean, SA. In both cases, consumers will be able to securely buy over the web with credit cards, smart cards or with cash, by simply swiping their ATM card through eConnect's eCashPad, a PC peripheral, and entering their PIN. The consumer's financial information will be transmitted exclusively to the processing bank or financial institution, bypassing the merchant.
At the heart of the Dominican Republic Host Processor Center is an IBM S\390 Multiprise server, which will also service other types of secure electronic payment transactions, ``whether originated by our own equipment or by devices made by other companies,'' Mr. Egan said. Besides processing its own Bank Eyes Only(TM) transactions, eConnect also plans to aggressively market its Host processing to service local walk-in merchants and ATM cash machines.
Within the US, the eCashPad will be driven by the eFunds unit of Deluxe Corp. as the payment processor. eConnect is using eFunds' CONNEX software to build international host systems, of which eConnect Caribbean, S.A is the first.
Safe Harbor: Certain statements in this 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 to the safe harbor created under those sections. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and/or future events could differ materially from those anticipated in such statements.
SOURCE: eConnect |
