NEWS RELEASE
Biometric Payment and Home Banking Solutions
TROY, N.Y., May 20 /PRNewswire/ -- IFS International, Inc. (Nasdaq: MNYC)
today announced a non-exclusive joint development project with Biometric
Access Corporation (BAC), for payment card transaction processing at Points of
Sale and home banking stations utilizing the market-leading TPII and
SecureTouch products.
The joint activities will lead to the marketing of a complete Biometric,
or fingerprint recognition payment solution to financial institutions,
retailers, regional and national banks throughout U.S. and International
markets. The solution is to be built from the state-of-the-art product sets
of IFS and BAC. The product lines of both companies have proven their market
acceptance at the global level and will provide a reliable, secure acquisition
and authorization system for home banking, payment at point of sale, secure
payments over the Internet, cash advance transactions and other financial
services.
Mr. John Shepard, Executive Vice President at BAC commented, "By bringing
together two market-leading products we are able to offer a complete solution
to a business sector that is experiencing explosive growth."
Mr. Simon Theobald, Senior Vice President at IFS added, "The integration
of the TPII and SecureTouch products provides a reliable, least-risk product
solution to the market requirement for secure transactions, fulfilling a
strategic business need in this rapidly expanding industry. Our strategic
goal is to provide our customer base with the latest technological
advancements in both transaction processing as well as in secure
authorization."
Headquartered in Austin, Texas, Biometric Access Corporation (BAC), a
privately held Delaware C corporation, is a price/performance leader in the
development and manufacturing of fingerprint authentication and facial
recognition systems. For additional information please contact Hal Jennings,
VP Marketing and Technical Supportat: +1 512 246-3760 ext. 119, or email him
at: hjennings@biometricaccess.com.
IFS International, Inc. develops, markets, and supports software products
for the Electronic Funds Transfer (EFT) market. IFS International products
are used to provide ATM, POS, smart card, debit card management, bank teller,
bank platform, home banking and call-center solutions to the EFT industry.
Its family of software products, marketed under the name TPII, serves as a
manager of EFT systems for automated teller machines (ATM), point-of-sale
(POS) and voice authorization. The NCI International, Inc. subsidiary adds
complementary products to the IFS family, including NCI Business Center, an
enterprise-wide retail banking solution designed to automate all traditional
as well as Internet/Interanet transactions. IFS also provides a turnkey
system for smart card implementation.
IFS is headquartered in Troy, N.Y., with operations in the United Kingdom,
Germany, Australia and Singapore. E-mail: marketing@ifsintl.com. Web page:
ifsintl.com. IFS securities are traded on the Nasdaq SmallCap
Market: MNYC Common Stock; MNYCP Series A Convertible Preferred Stock, MNYCW
Series A Convertible Preferred Stock Purchase Warrants.
SOURCE IFS International, Inc.
-0- 05/20/98
/CONTACT: Marketing, IFS International, Inc., 518-283-7900; or Sanjay
Sabnani, Sr. Vice President, Coffin Communications Group, 818-789-0100/
/Web site: ifsintl.com
(MNYC)
CO: IFS International, Inc.; Biometric Access Corporation
ST: New York
IN: CPR FIN
SU: JVN PDT
BC-MR
-- LAW011 --
0424 05/20/98 08:55 EDT prnewswire.com
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