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First Ecom.com Inc. Joins with FISC in Signing Ceremony and E-Commerce Initiative 12 Taiwanese
Banks Participate in Pilot Program for Payment Processing
TAIPEI, Taiwan--(BUSINESS WIRE)--May 2, 2000--First Ecom.com Inc. (OTCBB:FECC - news;
BSX:FECC BH), a global provider of electronic payment processing services, and Financial Information
Services Co., Ltd. (FISC) today announced a landmark e-commerce initiative in Taiwan involving the
participation of 12 Taiwanese banks in a four-month pilot project to provide a safe and convenient
e-payment solution.
Twelve Taiwanese banks, namely Land Bank of Taiwan, Dah An Commercial Bank, The Chinese Bank,
United World Chinese Commercial Bank, The Cooperative Bank of Taiwan, Entie Commercial Bank,
First Commercial Bank, Cosmos Commercial Bank, Hua-Nan Commercial Bank, Chang Hwa
Commercial Bank, Ltd., Bank of Taiwan and Taichung Business Bank, are participating in the pilot
program.
FISC is responsible for inter-bank systems and credit card services for 440 Taiwanese banks and
financial institutions. First Ecom.com is a global leader in e-payment processing solutions.
The cooperation between First Ecom.com and FISC, which began in February 2000, will not only foster
Taiwan's overall e-commerce environment, but will also offer a safe, easy and fast e-payment solution
between merchants and consumers through FISC participating banks. As e-commerce continues to
grow exponentially around the world, First Ecom.com offers a comprehensive e-payment solution to
process e-commerce transactions. Banks and bank consortia will be able to extend their services with
e-commerce offerings through existing relationships with their merchants.
``Mr. Jan and the FISC team have chosen First Ecom to be their partner in bringing e-commerce to their
member banks and Taiwan,'' said Gregory Pek, president and CEO of First Ecom.com. ``This is a great
honor for us at First Ecom, and helps gives us a strong foothold in a key Asian market.''
``To meet the demands of the marketplace and member banks, FISC is not only providing financial
products over the Internet, but also endeavors to expand the choices of those products to strengthen its
support to member banks, and FISC has therefore chosen to work with First Ecom to provide a safe,
convenient and advanced e-payment solution to Taiwanese banks,'' said D. H. Jan, chairman of FISC.
``FISC expects that through the pilot program with the participation of 12 banks, it will be able to foster
Taiwan's e-commerce, expand the marketplace, and make Taiwan a leader in global e-commerce.''
First Ecom.com's payment processing solutions will not only enable Taiwanese banks and financial
institutions to offer their services to merchants around the world, but also will bring many attractive
advantages to their merchants. They include:
- No need to acquire software or hardware: Merchants and banks adapting First Ecom's payment
gateway do not need to make major capital investments in hardware and software.
- Secure, convenient and fast: The most important design goal for the First Ecom system is to provide
the highest level of control to ensure all transactions can be conducted in a safe, reliable environment
without any interruption. First Ecom has the world's most advanced encryption standard including
maximum bit (128 bit) SSL (Secure Sockets Layer), SGC (Server Gated Cryptography) and OpenPGP
(RFC 2440).
About FISC
Financial Information Services Co., Ltd. (FISC) was established in 1988 as the Financial Information
Services Center under the Ministry of Finance. The center was privatized in November 1988 with the
investment from the Ministry of Finance and financial institutions.
The services provided by FISC include: the management of inter-bank information systems, audit of
inter-bank services, information transmission and exchange, and offering standardization and
consultation services for the automation of inter-bank services. For more information about FISC, check
its Web site at fisc.com.tw.
About First Ecom.com
As a global provider of electronic payment processing, First Ecom.com provides secure,
easy-to-implement and low-cost online payment processing services to merchants and banks
worldwide. Through strategic partnerships with banks, ISPs, e-commerce product suppliers, system
integrators and storefront solution providers, First Ecom.com will process credit card transactions
made over the Internet in multiple currencies, either domestically or offshore in a tax-neutral jurisdiction.
For more information, visit firstecom.com or e-mail to merchant@firstecom.com.
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:
Davis.Comm, Inc. (for First Ecom.com)
Jeff Davis or Kevin Manniko, 415/837-3939
jdavis@daviscomm.com
kmanniko@daviscomm.com
or
Investor Relations:
888/305-8233
currently up 16.31 @ 3:00pm edt
regards,
DAP |
