First Ecom (FECC:BB) and Open Market sign deal. Open Market endorses FECC technology.
First Ecom.Com's Internet Commerce Services Employ Open Market Transact Software
HONG KONG--(BUSINESS WIRE)--May 3, 1999--First Ecom.com (OTC BB:FECC), a provider of online credit card transaction processing services for merchants outside of North America, and Open Market, Inc.(Nasdaq:OMKT - news), a leading provider of Internet commerce and information publishing software, today announced that First Ecom.com has licensed Open Market's Transact software to provide commerce services to international merchants, Internet Service Providers (ISPs), hosting providers, and large utility providers that are using First Ecom.com's credit card payment gateway for e-commerce transactions over the Internet.
By utilizing Transact's unique distributed architecture, First Ecom.com will be able to serve the e-commerce transaction processing needs of its clientele from anywhere in the world regardless of their physical location or the limitations of local networks or local financial institutions. As a result of this international reach, First Ecom.com can provide services, including merchant setup and secure transaction processing, to merchants and ISPs in regions where no current e-commerce rocessing infrastructure exists.
''Our goal is to be a leading player in the Internet commerce service provider marketplace,'' said Gregory Pek, president and CEO of First Ecom.com. ''We feel that Open Market's Transact software is the best option to support our aggressive initiative. And, in addition to this best-of-breed software, Open Market has
extensive support programs that will help us with the challenge of promoting our services to a global audience.''
''Open Market is pleased to be working with First Ecom.com to address the Internet commerce needs of merchants that have not had access to these powerful applications to date,'' said Alan Cornwell, vice president, International at Open Market. ''In fact, Open Market will now be able to refer inquiries from merchants in regions that are not yet e-commerce enabled to First Ecom.com for merchant set-up and transaction processing.''
About First Ecom.com
First Ecom.com, Inc. is a U.S. company trading on NASDAQ OTC-BB under the symbol FECC. First Ecom.com provides online credit card transaction processing services for merchants outside of North America. Through a series of strategic alliances, First Ecom.com approves merchants and processes transactions in a tax-neutral jurisdiction without the need for using U.S. banking institutions or U.S.-based ISPs. Using First Data Corp.'s processing platform, First Ecom.com offers online credit card processing solutions for merchants in their preferred currency. For more information, contact First Ecom.com at 888/305-8233 or by email at ir@firstecom.com.
About Open Market
Founded in 1994, Open Market, Inc. (Nasdaq:OMKT - news) is the market-share leader in Internet commerce software with over 20,000 merchant licenses sold worldwide. Open Market's high-performance application software products and professional services allow its customers to engage in business-to-consumer and business-to-business Internet commerce, information commerce, and commercial publishing. Among Open Market's distinguished roster of global customers are many of the most popular domains on the Web, including Lycos.com, AOL.com, Time Warner, major industrials such as Ingram Micro, Milacron, and Acer, more than 700 publishers using Folio Products, including the top 10 commercial publishers, and 10 of the world's top 13 national telephone companies. The company, headquartered in Burlington, Massachusetts, with offices in Japan, Canada, the UK, France, Germany, The Netherlands, Italy, and Australia can be reached by calling 888/OPEN.MKT or by visiting openmarket.com.
About Transact
At the core of Open Market's Internet commerce platform is Transact, an enterprise application that manages Internet commerce. Transact offers powerful functionality, including complete order management, online customer service, security, authentication, record-keeping, flexible purchasing and payment models,
secure transaction processing, and automatic calculation of worldwide tax and shipping charges.
Certain statements contained herein are ''forward-looking'' statements (as such term is defined in the Private Securities Reform Act of 1995). Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.
Contact:
Investor Relations
Phone: 888/305-8233
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