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Technology Stocks : Lance B's : Its A Beautiful Thing -- Ignore unavailable to you. Want to Upgrade?

To: LANCE B who wrote (547)	11/3/1999 8:48:00 AM
From: LANCE B	Read Replies (1) \| Respond to of 4792

ECNC- HADS A LITTLE NEWS TODAY (BSNS WIRE) eConnect Announces New E-commerce Business Model With Succes eConnect Announces New E-commerce Business Model With Successful Installation of its Linux-based Internet Transaction Server Business Editors/High-Tech Writers LOS ANGELES--(BUSINESS WIRE)--Nov. 3, 1999--eConnect (OTC:BB:ECNC) has successfully installed its Linux based Internet transaction server at a participating ATM card Gateway which is connected to regional ATM networks through a Tandem based transaction processor. The eConnect ePIN system contains three software modules, with one to reside at the merchant's Internet site, one at the consumers browser and one at the eConnect Internet Transaction server. The present ePIN is a simple off the shelf device which connects between the keyboard and the desk top or lap top and enables the consumer to simply swipe their ATM card and enter their bank assigned PIN to effect a Same-as-Cash(TM) payment to an Internet merchant. Or the Internet consumer can elect to swipe their credit card which is a far more secure transaction and costs less for the Internet merchant. eConnect will begin testing the ePIN system with the opening of Internet trading accounts by ATM card with PIN same-as-cash transactions and will also enable its own fine arts auction web site: (BSNS WIRE) eConnect Announces New E-commerce Business Model With Succes eConnect Announces New E-commerce Business Model With Successful Installation of its Linux-based Internet Transaction Server Business Editors/High-Tech Writers LOS ANGELES--(BUSINESS WIRE)--Nov. 3, 1999--eConnect (OTC:BB:ECNC) has successfully installed its Linux based Internet transaction server at a participating ATM card Gateway which is connected to regional ATM networks through a Tandem based transaction processor. The eConnect ePIN system contains three software modules, with one to reside at the merchant's Internet site, one at the consumers browser and one at the eConnect Internet Transaction server. The present ePIN is a simple off the shelf device which connects between the keyboard and the desk top or lap top and enables the consumer to simply swipe their ATM card and enter their bank assigned PIN to effect a Same-as-Cash(TM) payment to an Internet merchant. Or the Internet consumer can elect to swipe their credit card which is a far more secure transaction and costs less for the Internet merchant. eConnect will begin testing the ePIN system with the opening of Internet trading accounts by ATM card with PIN same-as-cash transactions and will also enable its own fine arts auction web site: theartauction.com to receive ePIN payments. "The simplicity of the ePIN system is to simply adapt the present everyday usage of swiping an ATM card and entering a PIN or swiping a credit card that consumers effect every day at grocery stores and gas stations and move the card swipe technology to Internet commerce. This can mean instant payment of a mortgage or tax bill by Same-as-Cash, not virtual money, and we feel that it addresses the Internet commerce needs spoken about in the American Banker, October 28 issue. "We will be demonstrating this new E-Commerce business model with live ePIN transactions at our Broker Road Show beginning in San Francisco on November 8 and ending in NYC on November 19," said Thomas S. Hughes, the Chairman and CEO of eConnect. This press release contains forward looking statements subject to the safe harbor act created by the Securities Litigation Reform Act of 1995. Management cautions that these statements may include projections and estimates of future performance and involve certain risks and uncertainties. Actual results could differ materially from those anticipated in these forward-looking statements as a result of factors such as changes in the marketplace, unanticipated competitive activity, a downturn in economic conditions, or delays in product development. --30--ma/sf* jar/sf CONTACT: International Investor Relations Group 407/865-9433 (November stock broker presentations) or eConnect: Carnegie Cooke Anita Goldberg, 800/262-2331 web site: www.e-connect.cc or ET&T: Prima Capital Elias, 800/600-8599 KEYWORD: CALIFORNIA INDUSTRY KEYWORD: INTERNET COMPUTERS/ELECTRONICS E-COMMERCE Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story * * end of story *