F.Y.I
Applies to: CNV IBM RIMM)
CVF TECHNOLOGIES' HOLDING RDM CORPORATION DEMONSTRATES SECURE MOBILE
Electronic Payment Using the RIM Inter@ctive Pager 950
Secure Payments Sent To Internet Email Addresses
LEWISTON, N.Y., April 19 /PRNewswire/ -- CVF Technologies Corporation
(Amex: CNV) announced that its holding RDM Corporation, a technology
leader in the development of specialized software and hardware products
for both of the electronic and paper based payment processing
industries, is demonstrating a wireless eCheck payment technology using
the RIM Inter@ctive(TM) Pager 950 at the BAI Transaction Processing '99
show in Miami, Fla. The demonstration illustrates how the eCheck can
be used for electronic payment in a secure means from a mobile source.
RDM's demo software, running on the RIM Inter@ctive Pager 950, allows
the user to create, digitally sign, and transmit an electronic check
(eCheck) to an Internet email address. The user authorizes the
application of the digital signature to the eCheck by entering a PIN
number. The RDM demo software allows the user to enter an email
address or select an email address from the two-way pager's address
book and also interfaces with the pager's standard email software.
"The eCheck initiative removes a major obstacle to eCommerce by
providing a secure electronic payment technology for the Internet,"
said Pat Pavlik, RDM's President and CEO. "Possible pager applications
for this technology include wireless receipt and payment of a bill or
wireless payment for an investment transaction."
The eCheck is an electronic payment technology modeled on the paper
check. The result of a collaborative 3-year research initiative by
members of the FSTC (Financial Services Technology Consortium)
Electronic Check Project, the eCheck is a highly secure electronic
payment option optimized for the Internet.
RDM will also demonstrate its eCheck Payment Software for Business at
the BAI Show in Miami. The Software facilitates creation and issuance
of eCheck payments and receipt, validation and deposit of eCheck
payments. The eCheck payment technology is being demonstrated at the
BAI show in a multi-vendor demo. RDM (booth 833), Check Solutions
(booth 811), IBM (booth 1201) and the Federal Reserve Bank of Boston
(booth 932) will be demonstrating end-to-end eCheck processing,
transmitting the eChecks from booth to booth.
At the Show, RDM and Check Solutions are each able to issue an eCheck
payment to the other and process an eCheck payment received from the
other. Both will also be receiving eCheck payments issued by the RIM
Inter@ctive Pager 950 using the RDM demo software.
Upon receipt of an eCheck payment it will be validated, endorsed and
deposited by email to the IBM eCheck Bank Server, at the IBM booth,
which will demonstrate eCheck processing by the Payee bank. The final
step in the processing of the eCheck - Payer Bank processing - will be
demonstrated at the Federal Reserve Bank of Boston booth completing the
flow and processing of the eCheck payment.
Founded in 1984, Research In Motion Limited is a world leader in
designing, manufacturing and marketing wireless technology for the
mobile communications market. Research In Motion is a public company
listed on the Nasdaq Stock Market under the symbol "RIMM" and the
Toronto Stock Exchange under the symbol "RIM."
RDM has been providing cheque automation and processing technologies to
banks, printers and payment processors in over 35 countries since 1987.
RDM is the leading supplier of hardware and software to design and test
cheques for electronic processing. RDM Corporation is a public company
listed under the symbol "RC" on the Vancouver Stock Exchange.
Research In Motion, RIM, Inter@ctive and Inter@ctive Pager are
trademarks of Research In Motion Limited. Research In Motion and RIM
are registered, U.S. Patent and Trademark Office. All other brands,
products and company names mentioned herein may be trademarks or
registered trademarks of their respective holders.
About the Company
CVF Technologies Corporation, headquartered in Lewiston, N.Y., is
a technology development company focusing on E-Commerce whose principle
business is selecting, developing and managing emerging companies with
proprietary or patented technologies and concepts with significant
market potential.
Certain statements made in this press release which are not historical
facts are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that
these statements involve risks and uncertainties, which may cause
actual results or achievements to be materially different from any
future results or achievements expressed or implied by the
forward-looking statements. These risks include, but are not limited
to, product demand and market acceptance risks for the products and
technologies of CVF's subsidiary companies and investees; the impact of
competitive products, technologies and pricing; delays or difficulties
in developing producing, testing and selling new products and
technologies; the ability of the company's subsidiaries and investees
to obtain necessary financing for their operations and to consummate
the initial public offerings of their stock; the effect of the
Company's accounting policies; the effect of trade restrictions and
other risks detailed in the Company's Statement on Form 10-SB/A filed
with the U.S. Securities Exchange Commission and any subsequent filings
with the Commission.
SOURCE CVF Technologies Corporation
-0- 04/19/99
/NOTE TO EDITORS: For more information on CVF Technologies
Corporation via facsimile at no cost, dial-1-800-PRO-INFO and enter the
company code "CNV" or visit our Web site at www.cvfcorp.com./
/CONTACT: Jeffrey Dreben, President, CEO of CVF Technologies,
716-754-7883, or Press Information, Peter Collins, of Rubenstein
Associates, 212-843-8050, or General Info., John Kroen, 312-640-6763,
or Analyst Inquiries, Caroline Price, 312-640-6741, both of The
Financial Relations Board/ |
