eConnect Announces Strategic International Partnership of eFunds, REAL
RELATED SYMBOLS: (ECNC)(IBM)(EFDS)
SAN PEDRO, Calif., Nov 28, 2000 /PRNewswire via COMTEX/ -- eConnect (OTC
Bulletin Board: ECNC) today announced that additional IBM S-390 enterprise
systems have been reserved with REAL, with the goal of establishing 40 global
eConnect host systems in 2001.
The International eConnect Host system partnership consists of a support
structure provided by REAL, Sentinel Technologies and eFunds (Nasdaq: EFDS) with
the goal of fast track implementation of full-service host centers driving
Personal Encrypted Remote Financial Electronic Card Technologies such as the
eCashPad, with instant ATM card with PIN cash payments from country to country
via the Internet.
Additionally, the eConnect international host centers will support local ATM
machines and behind the counter terminal transactions. It is the goal of
eConnect to attain 25% of the processing market share within each country within
one year of entry.
Presently, the eConnect system comprises eConnect USA, and eConnect Caribbean,
with eConnect Ireland equipment expected to be in place as of late December
2000.
During 2001, eConnect will aggressively develop multiple countries in Asia,
Africa, Latin America and Europe as eConnect Host centers.
The eCashPad, priced at $59.95, will implement mass-market global PERFECT
transactions between an interlocked network of eConnect host systems. Specific
focus will be placed on instant cash ATM card with PIN payments and smart card
payments.
REAL is an IBM and Lotus Premier Business Partner, responsible for over 6,000
IBM AS/400 and RS/6000 midrange systems, as well as the S/390 enterprise system.
The Company is also the leading reseller of IBM high end data storage solutions
and a major provider of a range of IBM services. It has received multiple
national sales awards from IBM.
Sentinel Technologies, Inc., based near Chicago, provides technical installation
and maintenance services for eConnect's current worldwide initiatives.
Partnering with eConnect has provided Sentinel Technologies the opportunity to
demonstrate to world markets their abilities of addressing all IT and eBusiness
challenges.
Sentinel Technologies provides maintenance/installation support, eBusiness
solutions, application development, network security, multi-service network
solutions, network infrastructure design and implementation and technical
outsourcing.
eFunds is providing eConnect with the CONNEX IBM Host software to implement the
eConnect Host systems.
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 and 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 future
events could differ materially from those anticipated in such statements.
For further information please contact Sitrick And Company, 310-788-2850, for
eConnect.
SOURCE eConnect
CONTACT: Sitrick And Company, 310-788-2850, for eConnect
URL: efunds.com
realapps.com
sentinel.com
econnectholdings.com
prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
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KEYWORD: California
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INDUSTRY KEYWORD: CPR
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SUBJECT CODE: JVN
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