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Technology Stocks : CyberCash a buy? -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (781)	3/30/1998 6:30:00 PM
From: john shoemaker	Read Replies (2) \| Respond to of 3990

Monday March 30, 6:04 pm Eastern Time Company Press Release CyberCash, Inc. Announces CashRegister 3 Service CyberCash Emerges as the Leader in Electronic Commerce Payment Solutions RESTON, Va.--(BUSINESS WIRE)--March 30, 1998-- CyberCash, the leading provider of electronic commerce solutions, announced today the next generation of their premier electronic commerce payment services. This new service unveiled by the Company is CashRegister 3. The new Service is expected to make electronic commerce more convenient and provide greater ease of use for merchants and billers accepting payments on the Internet. A pioneer in enabling payment software and services on the Internet, CyberCash built upon their experience in the marketplace and created a service which keeps businesses on the cutting edge of the ever-changing, fast moving world of e-commerce. CyberCash has developed relationships and continues to bring together merchants, financial institutions and technology partners on a global basis. The CashRegister 3 Service allows companies to capitalize on the projected rapid growth of commerce on the Internet. ''The Internet is moving more merchants towards a straightforward, simple way of doing business on-line,'' said Maureen Loftus, executive vice president merchant services, CyberCash, Inc. ''The CashRegister 3 architecture offers merchants an easy way to accept multiple payments so they can continue doing business as usual and concentrate on their own business.'' Through the CashRegister 3 Service, CyberCash enables merchants to accept the widest range of payment options including payment cards (SSL and SET), electronic cash and PayNow(TM) electronic checks. ''Doing business on the Web is changing so quickly that it's near impossible to stay on top of it. Cybercash has been handling e-commerce since its inception. We are and have been the pace-setter of e-commerce. We utilize our knowledge to create services and technology that will help our customers stay ahead of this fast-moving industry,'' explains Denis Yaro, executive vice president, development, CyberCash, Inc. Merchant Connection Kit CyberCash will take over responsibility for a number of components of the payment process. CashRegister 3 will connect a merchant's software to the CyberCash Payment Service. This new service has essentially redistributed the payment application allowing Merchants to install a small piece of code, called the Merchant Connection Kit (MCK), and connect to the CashRegister Service. The bulk of the payment code now resides on CyberCash servers. CashRegister 3 will encapsulate payment tasks and administration formally undertaken by the Merchants, Technical Partners (TP) including iCat, Inc.(TM), ICentral, Inc.(TM), Intershop Communications, and Microsoft(R), and Merchant Development Partners (MDP's) such as Earthlink Network, Sprint Communications and UUNET Technologies, and shift the responsibility to CyberCash. Serving Customers Needs This new service is completely scaleable supporting a range of merchants from start-up merchants to major Internet Malls. As a result of the new features, handling the technology of payment processing will be simple. For example, merchants and MDPs will no longer have to worry about storing large 20 megabytes of software on their servers as most of the software will be stored on CyberCash's. This will allow for easier installation of the initial 100 KB of software (i.e., the MCK). In addition, CashRegister 3 will allow for automatic upgrades eliminating the learning curve for each new version of the CashRegister Service and seamless service additions allowing the merchant to expand functionality faster. ''With the CashRegister3, ICentral can focus on its goal of delivering commerce software that is easy-to configure for the merchant and 'server friendly' to our hosting partners. CyberCash will now go where ShopSite(TM) goes,'' said Jan Johnson, vice president, marketing, ICentral. ''Our business has enjoyed tremendous success on the Internet,'' said Dan Grigsby, president, Merchant Planet, ''CyberCash's new architecture enables us to easily scale to the high number of customers we're bringing online.'' Availability The CashRegister 3 Service is available in April in the United States. The service is expected to roll out in Europe and Asia later this year.