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

To: Lee who wrote (3224)	4/6/1999 12:26:00 PM
From: Big Dog	Read Replies (1) \| Respond to of 3990

"But to quote Bill Gate: "We tend to over-estimate the rate of change two years out and under-estimate the rate of change 10 years out." Very true. When CYCH came out with its IPO in July 1996, almost three years ago, CYCH management thought that e-commerce would take-off immediately. Well, they were two years too early. E-commerce didn't really take hold until the 1998 Christmas, Hanukkah, and Kwanza holiday season. Now with cheap and powerful computers, fast modems, tremendously improved internet infrastructure, and traditional retailers scared to death of upstarts like Amazon, e-commerce is here. During the last three years, CYCH has built-up an extensive array of relationships with domestic and international financial institutions, companies, and merchants. Last year, CYCH started InstaBuy (essentially a registry system) which will facilitate the purchase of goods and services by consumers. The biggest coup was landing First USA, the credit card subsidiary of BancOne and largest issuer of Visa and Mastercards. First USA has over one million card holders and has made CYCH's registry system available to all of its cardholders. Now, CYCH is attempting to sign-up other credit card institutions, networks of merchants (e.g., ImpulseBuy Network), and individual large merchants. Further, in partnership with Concentric, CYCH is assisting small and medium-sized retailers to expand to the internet. Looks like Bill Gates' observation is apropos in CYCH's case.