Ron..this might be the PR that screws up the program:
eConnect Allies With Online Yellow Pages Publisher SBN.COM
Three-Year Marketing and Revenue-Sharing Agreement to Introduce 75 Million
Business Listings Worldwide to Bank Eyes Only(TM) via eCashPad
SAN PEDRO, Calif. and NEWPORT BEACH, Calif., Dec. 8 /PRNewswire/ --
eConnect (OTC Bulletin Board: ECNC) today announced a definitive agreement in
which SBN.COM Inc., publisher of the world's largest classified directory,
will directly market eConnect's Bank Eyes Only(TM) as a secure online payment
system to existing and future clients.
The agreement also calls for SBN.COM's Online Yellow Pages to be directly
accessible from eConnect's website, via the Walking Fingers Mouse(TM) icon.
Although terms weren't specified, eConnect and SBN.COM will share revenues
from each click-through to an Online Yellow Pages listing from
www.eConnectholdings.com.
eConnect and SBN.COM will share revenues from banner advertising by
listees at www.eConnectholdings.com, as well as Online Yellow Pages
advertising sold directly by eConnect. eConnect will also share revenues
resulting from new listees who sign up via the Company's website.
REVENUE STREAM AND MARKETING TOOL
"We believe that this agreement will dramatically advance the execution of
our business plan," said Thomas S. Hughes, founder, chairman and chief
executive of eConnect.
"Now that Bank Eyes Only(TM) has been successfully demonstrated, and
eCashPad production is underway, attracting merchants has become our most
critical challenge. We now expect to attract businesses represented in the
20 million US and 75 million worldwide listings of the Online Yellow Pages."
Dennis D'Alessio, chief executive officer of SBN.COM, noted that the
marketing component of this strategic alliance goes far beyond the
revenue-sharing agreement that it routinely offers listees such as eConnect.
"We foresee Bank Eyes Only(TM) as a powerful marketing tool," he said. "We
believe that the security offered by the eCashPad to both consumers and
merchants, and its potential to process payment via ATM card with PIN, has the
potential to greatly increase business volume for all of our listees who sell
goods and services online."
It has been estimated that 25% or more of the consumer market has been
effectively shut out of e-commerce because they do not use credit cards, and
because bank ATM cards are not commonly accepted by online merchants.
The eCashPad, now on sale for $59.95, is a common-sense solution,
consisting of a "plug-and-pay" PC peripheral approximately the size of a PC
mouse. By swiping an ATM card with PIN, credit card, or smart card through
the eCashPad, the consumer routs financial information directly to the
financial institution that settles the online purchase and pays the merchant.
The consumer's financial information is neither seen nor stored by the
merchant, who is charged a flat fee per transaction.
Both companies noted that Online Yellow Pages listees who wish to accept
these Bank Eyes Only(TM) payments will require proprietary software. Once
equipped, however, these merchants will still be able to make non-Bank Eyes
Only(TM) transactions with customers who do not yet own an eCashPad.
ABOUT eCONNECT
eConnect, San Pedro, Calif., is currently deploying Bank Eyes Only(TM) in
the US, the Caribbean, and Europe through host processing centers owned or
under development by the Company, or its affiliates, in Milwaukee, Santo
Domingo, Dominican Republic, and in the area of Atherton, Ireland,
respectively. eConnect further plans to expand the system internationally,
through company owned-and-operated host processing centers in Hong Kong and
Australia. The eCashPad, the Company's first Bank Eyes Only(TM) product, was
formally introduced at last month's COMDEX show. In addition to retail sale,
it is also being distributed promotionally via the retail, gaming, financial,
brokerage and interactive entertainment industries.
ABOUT SBN.COM
SBN.COM's Online Yellow Pages, the world's largest, contains 1.5 million
pages and more than 75 million business listings worldwide. Within the US,
this includes the listings of every phone book in every area code in all
50 states, every business-to-business listing, and the entire database for
toll-free numbers, as well as every Yellow Pages protocol worldwide.
Published in both English and Spanish, the Online Yellow Pages are
accessible from the websites of several hundred internet service providers and
other Internet hosts accounting for in excess of 3 million subscribers, and at
more than 850 affiliate e-commerce sites established via the Newport Beach,
Calif.-based company's highly successful "You've Got Money" program.
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 Fred Biddle, Member of the Firm of
Sitrick And Company, 310-788-2850, for eConnect.
SOURCE eConnect
-0- 12/08/2000
/CONTACT: Fred Biddle, Member of the Firm of Sitrick And Company,
310-788-2850, for eConnect/
/Web site: econnectholdings.com
-- LAF093 --
4497 12/08/2000 20:22 EST prnewswire.com
Copyright PR Newswire 2000. All rights reserved. |
