800America.com, Inc. , a business-to-business, business-to-consumer and technology Internet company, announced that it has acquired UPSPayment.com, a global multi-currency e-commerce payment service that makes online payment secure, efficient and instantaneous on the Internet and on mobile devices. UPSPayment.com is the first instantaneous multi-currency e-payment system providing instant funds transfer for both B2B users and consumers. Terms of the acquisition were not disclosed.
UPSPayment.com was created as a method of transacting business quicker and simpler both internationally and nationally on the Internet. By being both instantaneous and allowing buyer and seller to transact business in their own currencies, UPSPayment.com leads the push to conduct more e-commerce with “digital cash” — rather than credit cards and paper checks. Its simplicity and security provide services that allow consumers to send/receive electronic bills through the Internet; pay any bill or send money to anyone with an e-mail address; and perform customary banking transactions, such as fund transfers between accounts.
Originally created as a faster and less costly method for all businesses seeking to conduct international B2B transactions in multiple currencies, UPSPayment.com has become popular among many Internet users seeking an online e-payment service that is affordable and easy to use. UPSPayment.com’s ability to deal in multi-currencies and to send money instantaneously to anyone with an e-mail address sets it apart from the other on-line e-payment systems.
This service historically was only available to large multi-national corporations. UPSPayment.com initially developed this service with the B2B user in mind, but has extended its services to all e-commerce users wanting a simple, secure and complete e-payment solution.
The UPSPayment.com system is: easy to use for both buyer and seller, employs a robust authentication for sellers; provides for virtually instantaneous transfer of funds; is available in multi-currencies; and has enabled its platform for use on mobile devices. UPSPayment.com is a new generation of e-payment solutions for the Global Internet Economy.
Jacque Pate, Jr., Executive Vice President of 800America.com, also commented that business across each of 800America.com’s segments remains robust and that, based on current business conditions and internal projections, the outlook for the Company remains promising. 800America.com has also established a strong financial foundation upon which to continue to expand its operations. Mr. Pate noted that at June 30, 2001, the Company reported cash of approximately $5.4 million and is debt free.Details