Attention Business/Technology Editors:
RDM Corporation Demonstrates Secure Mobile Electronic Payment
Using The RIM Inter(at)ctive Pager 950
- Secure Payments Sent To Internet Email Addresses -
Vancouver Stock Exchange Symbol: RC
www.rdmcorp.com
MIAMI, FL, April 19 /CNW/ - RDM Corporation, a technology leader in the
development of specialized software and hardware products for both of the
electronic and paper based payment processing industries, announced today that
it is demonstrating a wireless eCheck payment technology using the RIM
Inter(at)ctive(TM) Pager 950 at the BAI Transaction Processing '99 show in
Miami, Florida. The demonstration illustrates how the eCheck can be used for
electronic payment in a secure means from a mobile source.
RDM's demo software, running on the RIM Inter(at)ctive Pager 950, allows
the user to create, digitally sign, and transmit an electronic check (eCheck)
to an Internet email address. The user authorizes the application of the
digital signature to the eCheck by entering a PIN number. The RDM demo
software allows the user to enter an email address or select an email address
from the two-way pager's address book and also interfaces with the pager's
standard email software.
''The eCheck initiative removes a major obstacle to eCommerce by
providing a secure electronic payment technology for the Internet,'' said Pat
Pavlik, RDM's President and CEO. ''Possible pager applications for this
technology include wireless receipt and payment of a bill or wireless payment
for an investment transaction.''
The eCheck is an electronic payment technology modeled on the paper
check. The result of a collaborative 3-year research initiative by members of
the FSTC (Financial Services Technology Consortium) Electronic Check Project,
the eCheck is a highly secure electronic payment option optimized for the
Internet.
RDM will also demonstrate its eCheck Payment Software for Business at the
BAI Show in Miami. The Software facilitates creation and issuance of eCheck
payments and receipt, validation and deposit of eCheck payments. The eCheck
payment technology is being demonstrated at the BAI show in a multi-vendor
demo. RDM (booth 833), Check Solutions (booth 811), IBM (booth 1201) and the
Federal Reserve Bank of Boston (booth 932) will be demonstrating end-to-end
eCheck processing, transmitting the eChecks from booth to booth.
At the Show, RDM and Check Solutions are each able to issue an eCheck
payment to the other and process an eCheck payment received from the other.
Both will also be receiving eCheck payments issued by the RIM Inter(at)ctive
Pager 950 using the RDM demo software.
Upon receipt of an eCheck payment it will be validated, endorsed and
deposited by email to the IBM eCheck Bank Server, at the IBM booth, which will
demonstrate eCheck processing by the Payee bank. The final step in the
processing of the eCheck - Payer Bank processing - will be demonstrated at the
Federal Reserve Bank of Boston booth completing the flow and processing of the
eCheck payment.
Founded in 1984, Research In Motion Limited is a world leader in
designing, manufacturing and marketing wireless technology for the mobile
communications market. Research In Motion is a public company listed on the
NASDAQ Stock Market under the symbol ''RIMM'' and the Toronto Stock Exchange
under the symbol ''RIM''.
RDM has been providing cheque automation and processing technologies to
banks, printers and payment processors in over 35 countries since 1987. RDM is
the leading supplier of hardware and software to design and test cheques for
electronic processing. RDM Corporation is a public company listed under the
symbol ''RC'' on the Vancouver Stock Exchange.
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
Research In Motion, RIM, Inter(at)ctive and Inter(at)ctive Pager are
trademarks of Research In Motion Limited. Research In Motion and RIM are
registered, U.S. Patent and Trademark Office. All other brands, products and
company names mentioned herein may be trademarks or registered trademarks of
their respective holders.
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