NEWS RELEASE....Agreement with Unicard Systems Inc.
WHEAT RIDGE, Colo.--(BUSINESS WIRE)--Sept. 29, 1997--
Unicard Systems Places Initial Order for 400 U.S.
Wireless Data TRANZ(TM) Enablers
U.S. Wireless Data Inc. (OTC BB:USWDA) announced today it has signed a multifaceted agreement with Unicard Systems Inc. ("Unicard") for a card processing
program.
Under the terms of the agreement, U.S. Wireless Data ("USWD") will develop and provide a high speed card processing solution which will include both hardware
and software components. USWD will provide its TRANZ(TM) Enabler units as well as newly developed proprietary software to convert Unicard's existing
Verifone dial-up card processing terminals into high speed wireless terminals that operate over CDPD networks.
USWD will develop additional terminal application software that will perform both the Unicard enrollment process as well as deliver wireless credit card
transactions processing in 3 to 5 seconds. Unicard Systems will become a registered agent of USWD and has placed an initial order for 400 USWD TRANZ
Enabler units. USWD will receive recurring revenues from all TRANZ Enabler units placed by Unicard.
Unicard Systems, based in Dallas, is a service provider to over 500 restaurants and nightclubs in Texas. Approximately 50% of Texas is "dry" for the sale of
alcoholic beverages under an open saloon type permit and restaurants must have a private club permit to provide beverage service to its patrons which requires
membership accounting. Unicard provides for a single identification card that allows a person to quickly be enrolled into any restaurant. The Unicard enrollment
process involves communication between a Verifone credit card terminal at the restaurant and an authorization host at the Unicard offices. Card authorization using
traditional dial-up systems take up to 20 seconds, whereas the U.S. Wireless Data TRANZ Enabler technology will reduce authorization time to under 3 seconds.
USWD's proprietary enabling technology, TRANZ Enabler, converts a merchant's existing dial-up TRANZ VeriFone credit-card terminal into a high-speed
wireless terminal. It provides merchants with a faster and more cost-efficient way to transact business. The wireless transaction takes 3 to 5 seconds, vs. 11 to 20
seconds with a dial-up service. Going wireless means the merchant no longer needs a dedicated or shared telephone line to carry transaction traffic, thereby
eliminating delays, busy signals and the cost to install or pay for monthly telephone service.
U.S. Wireless Data Inc. has developed, tested and is now delivering compelling new proprietary products, programs and standards to the transaction processing
and credit card industry which utilize Cellular Digital Packet Data ("CDPD") wireless networks. USWD delivers the fastest and most cost-effective transaction
processing solution to retail merchants in the United States today - wired or wireless. USWD will generate recurring revenue from every transaction processed by
merchants who utilize the company's wireless technology. The company's strategy will be to deploy its technology through marketing and partnership agreements
with major cellular phone companies, regional and community banks and its own sales force.
CONTACT: U.S. Wireless Data Inc.
Rod Stambaugh, 415/389-1755
or
Liviakis Financial Communications Inc.
Robert B. Prag, 916/448-6084 |
