To: Ronald P. Margraf Sr. who wrote (4860 ) 2/7/2000 7:11:00 AM From: M Vavolizza Read Replies (1) | Respond to of 18222
PRESS RELEASE eConnect Announces Internet Cash Payment Roll Out Schedule LOS ANGELES--(BUSINESS WIRE)--Feb. 7, 2000-- eConnect (OTCBB:ECNC) announced that this week they will begin preliminary communication link tests between eFunds, a wholly owned subsidiary of Deluxe Data (NYSE:DLX) and RGtech, whereby dial up configurations, cross check simulation, and dial-up time delays and bandwidth will be established. These testing modes are preliminary to Beta testing which, subject to successful results, is scheduled to commence on the week of March 15, 2000. The eConnect System(TM) for Internet Cash Payments consists of eConnect/RGtech proprietary merchant and consumer Web browser plug-in software, eConnect proprietary eCashPad and eCashPad+ units, eConnect/RGtech Linux Transaction Servers, Internet Cash Portal Web sites and eConnect full service global bank host processing centers, which will authorize the bank card transactions. The eCashPad credit card reader will be ready for consumer delivery on April 10, 2000. The unit easily installs between the keyboard and CPU of a personal computer. The eCashPad will be given away to select customers of Internet merchants who have registered with the eFunds/eConnect Internet Cash Portal. To avoid the inherent problems associated with credit card data being stored on a merchant's server, the eConnect System only provides card approval data to merchants. Encrypted card data is routed to the eFunds host processor, but sensitive credit card and personal information is never stored on the merchant's server. This approach represents a quantum leap for Internet credit card security and lowered credit costs for merchants. The eConnect eCashPad+ will read both credit cards and ATM cards. The ability to utilize an ATM card with PIN usage will give consumers and merchants alike more online payment flexibility and security. Delivery of the eCashpad+ systems is scheduled for May 15, 2000. The eCashpad+ will be be given away to select customers of Internet merchants who have registered with the eFunds/eConnect Internet Cash Portal. Within the United States, all transactions initiated by eCashPad and eCashPad+ users will be routed via the eConnect/RGtech Linux server to the eFunds host processor. Additionally, eConnect will service the USA Internet Cash Portal, a Web site dedicated to registering and sponsoring participating Internet Cash Payment merchants. Outside the USA, eConnect is building full service host processing systems which will process eCashpad and eCashPad+ transactions. The eConnect host processing software is supplied by eFunds CONNEX(TM) on IBM and CONNEX(TM) Management System, and will be used by eConnect as the standard in all countries. eFunds' support staff will be visiting the Dominican Republic on February 10, 2000, to begin preliminary work for activation of the eConnect Dominican Republic Host System. eConnect Ireland, eConnect Australia and eConnect Hong Kong will be targeted for activation shortly thereafter. The respective Internet Cash Portal sites of the Dominican Republic, Hong Kong, Ireland and Australia are expected to be online, promoting eCashPad Country to Country Internet Cash Payments, by the third quarter of 2000. eConnect's goal is to establish full service host processing centers in 24 countries by September 2001. Safe Harbor: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those sections. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. CONTACT: For eConnect, Prima Capital Elias Argyropoulos, 800/600-8599 efunds.com deluxe.com econnectholdings.com KEYWORD: CALIFORNIA INTERNATIONAL EUROPE ASIA PACIFIC BW0063 FEB 07,2000 3:31 PACIFIC 6:31 EASTERN