Some Stratus revenue though:
Monday November 30, 12:25 pm Eastern Time
Company Press Release
S2 Systems' OpeN/2 Electronic Commerce Software To Drive Electronic Payment of Water Bills in Colombia
First-of-its Kind Acueducto System Designed to Process 500,000 Transactions Monthly
DALLAS--(BUSINESS WIRE)--Nov. 30, 1998--S2 Systems, a leading global supplier of electronic commerce software, today announced that its OpeN/2 software for online transaction processing will drive Colombia's new Acueducto project. Acueducto provides electronic payment of water bills using debit cards at kiosks and ATMs--the first such system in Colombia.
Scheduled for launch in the fourth quarter of 1998, Acueducto will be one of the first OpeN/2 installations in Colombia. Plans call for the OpeN/2 software, running on a Windows NT platform, to handle up to 500,000 transactions monthly.
''This first use of OpeN/2 in Colombia significantly strengthens S2's already substantial presence there and in Latin America,'' said Ivan Koon, president of S2 Systems. ''Working with our Colombian distributor, LASC (http://www.lasc.com.co), our many bank customers in Colombia have proven the speed and reliability of our electronic commerce software, setting the stage for our involvement in the Acueducto project.''
''Acueducto launches a new industry, and fulfills the consumer's need for convenient, secure payments,'' said Carlos Serna, Project Manager from Acueducto. ''The use of ATMs is already very strong in Colombia compared to the rest of Latin America. For the first time, consumers can pay their water bills and obtain a receipt almost anywhere they use an ATM or debit card.'' The governmental project's full name is Empresa de Acueducto y Alcantarillado de Bogota. An estimated 2000 ATMs are installed in ATH and Servibanca ATM networks currently.
While some Colombian banks offer electronic payments for some utilities, transaction volume is small. Most consumers avoid using the mail service for bill payments, preferring to pay in person and receive a receipt at either a utility's branch office or at some bank branches that offer the service.
The Latin American market now encompasses 475 million people and a gross domestic product of $41.3 trillion, offering long-term growth for financial institutions, especially in electronic commerce. S2's Colombian customers already include ColteFinanciera, Concasa, BanColombia, ATH switch network, Servibanca, Banco Superior, Red Multicolor, Banco de Bogota, BanCafe, Computec and Banco Industrial Colombiano.
OpeN/2 software runs on Hewlett-Packard(tm) HP-UX(tm), Microsoft® Windows NT®, and IBM® AIX. S2 Systems software drives local, regional and nationwide ATM or POS networks in 60 countries. The company provides ATM/POS software to banks with up to 2,000 ATMs, and to service bureaus processing as many as 4 million transactions daily. S2 Systems software supports electronic funds transfer, online banking applications or loan payment services, file transfer, EC messaging and EC gateways between legacy systems via Internet or Web-based technologies.
S2 Systems, Inc., is a leading supplier of business electronic commerce software and professional services. S2 focuses on EC gateway, electronic banking/payments, health care transaction processing and customer relationship marketing systems for financial services, retail, healthcare and evolving industries. With headquarters in Dallas and offices in Atlanta, Hong Kong, London, Maarssen and Melbourne, S2 products are licensed by more than 600 customers in 60 countries. S2 Systems is a wholly owned subsidiary of Stratus Computer, Inc. (NYSE:SRA - news).
Visit S2 Systems' web site at www.s2systems.com or phone 972/458-3800, fax 972/458-3876. The company's headquarters are located at 15301 Dallas Parkway, Suite 600, Dallas, Texas 75248-4683.
Regards
Neil |
