To: SCOOBEY-DO (297 )
From: Val Ryjouk Thursday, Jul 23 1998 3:28PM ET
Reply # of 2319
News !!!
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Thursday July 23, 1:08 pm Eastern Time
Company Press Release
Betting Inc. Bets That 7 Out of 10 Internet Gaming Users Will Bypass the Internet With Hardware SLICK Solution for Sending Cash ATM Card/Smart Card Wagers to Gaming Operators
LAS VEGAS--(BUSINESS WIRE)--July 23, 1998--Betting Inc. (OTC BB:BETT) has partnered with Novtech, a Florida electronics firm, to develop the first SLICK working model.
The secured-line Internet computer keyboard (SLICK) will bypass the Internet completely. Looking like a regular keyboard, the SLICK will feature a card-reader insert for ATM cards, credit cards and stored-value smart cards; a modem; and a printer.
The SLICK will use the consumer's home phone to send a data transaction toll free to the ET&T bank host for bank-card authorization. The Internet merchant will be contacted over a private network to respond back with acknowledgment of SLICK payment. No information crosses the Internet.
Bypassing the Internet with bank and personal data, the SLICK solution will deliver DES encrypted ATM card PINs or card read credit card or smart card transactions to the ET&T host for authorization. The SLICK will print a receipt that could also be the Lottery receipt, theater ticket or plane ticket.
''In light of how the U.S.A. Data Code was just broken by a $200,000 machine in 56 hours, it is obvious that the Internet will always be at risk. We believe that the everyday nontechnical Internet user will choose the simple SLICK solution to bypass the Internet with both their bank data and personal data,'' stated Tom Hughes, chairman and chief executive officer of Betting Inc. and ET&T.
''A SLICK transaction will enable the consumer to send same-as- cash transactions to Internet gaming operators, or to pay a utility bill, or to send an electronically read credit card to pay an Internet merchant, which is a cost savings to the merchant plus offering convenience and safety for the buyer.''
Working with its partner Novtech, Betting Inc. is targeting September to demonstrate SLICK transactions processed by ET&T (www.hpos.com) to a potential strategic partner.
Betting Inc. is targeting November to begin selling the SLICK to Internet consumers.
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Contact:
Carnegie, Cooke & Company
800/262-2331 |
