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Technology Stocks : Official Payments Corp. (OPAY) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (23)	1/11/2000 9:38:00 PM
From: Glenn Petersen	Read Replies (1) \| Respond to of 50

OPAY and ETrade announce alliance: biz.yahoo.com Tuesday January 11, 11:11 am Eastern Time ETrade and Official Payments form alliance NEW YORK, Jan 11 (Reuters) - Online broker ETrade Group Inc. (NasdaqNM:EGRP - news) and Official Payments Corp. (NasdaqNM:OPAY - news), which provides electronic payment options to government entities, said Tuesday they will swap Web-based content in an alliance aimed at promoting each other's services. Separately, ETrade Chairman and Chief Executive, Christos Cotsakos, has joined Official Payments' board, the companies said in a statement. In late morning trading on the Nasdaq Tuesday, Official Payments' shares were up 4-1/8, or about 10 percent, at 46-1/4. ETrade shares, meanwhile, were off 13/16 at 27-1/4, also on the Nasdaq. The alliance extends the companies' existing connection, made when ETrade invested $5 million in Official Payments prior to its Nov. 23 initial public offering. That debut, which added 50 percent to Official Payments' offering price of $15 per share, raised $75 million. ETrade and Official Payments said they are working together to create a marketing program to promote each other's products during this tax season. As part of the program, ETrade will use Official Payments' content on its Web site in exchange for becoming ``the preferred online brokerage partner' on Official Payments' Web site. Official Payments' options lets consumers use their credit cards to pay, by telephone or through the Internet, income taxes, sales and use taxes, property taxes and fines. Its government clients include the IRS, the States of California, Illinois and New Jersey, the District of Columbia and about 425 municipalities.