HNC 2Q/00

HNC Software Inc. announced the financial results for its second quarter ended June 30, 2000, reporting revenues of $67.4 million, an increase of 20.6 percent over revenue of $55.9 million for the second quarter in the prior year.

“Demand for our software continues to be strong and our financial results reflect tremendous growth throughout the company,” said John Mutch, president and chief executive officer, HNC Software. “We’ve focused on not only driving revenue growth, but increasing our recurring revenue stream which accounted for 73 percent of the total revenue in Q2. With 41 new customers and the introduction of several new product and ASP offerings, we’ve demonstrated significant product expansion and broadened our market penetration.” Diluted operational net loss per share for the quarter, excluding acquisition-related amortization, in-process research and development, and stock-based compensation charges, was $0.11(2) per share. Diluted net loss per share for the quarter, including acquisition-related amortization, in-process research and development, and stock-based compensation charges, was $0.75 per share.

HNC’s Service Industries Group, comprised of three divisions representing the company’s core businesses in the banking/financial, insurance/healthcare and telecommunications markets, reported second quarter revenues of $46.0 million, an increase of 38.0 percent over revenue of $33.3 million for the second quarter of 1999.

SELECTED SECOND QUARTER FINANCIAL RESULTS

Three Months Ended June 30, 2000
(Unaudited, in thousands, except per share data)
————————————————-
Service
Industries
Group Retek eHNC Consolidated
———— ——- —— ————
Revenues $ 46,023 $ 19,588 $ 1,821 $ 67,432
% of revenues 68.3% 29.0% 2.7% 100.0%
———————————————————————-
Operating income
(loss), excluding
acquisition-related
expenses and
stock-based
compensation charges $ 4,692 $(12,737) $(3,200) $ (11,245)(1)
———————————————————————-
Diluted operational net
loss per share $ (0.11)(2)
Diluted net loss per share $ (0.75)
———————————————————————-

(1) Excludes $11,546 of acquisition-related amortization, $5,050 of
in-process research and development and $2,621 of stock-based
compensation charges.

(2) Based on: (a) diluted operational net loss of $3,264, computed as
operating loss of $11,245 plus other net income of $2,995 and
minority interest of $3,028, fully taxed at a 37.5% tax rate
divided by (b) weighted average shares of 30,570, computed as
26,955 shares used in computing diluted net loss per share plus
1,385 weighted average options, ESPP shares and warrants, and
2,230 shares from the assumed conversion of $100 million of
Convertible Notes.

Three Months Ended June 30, 1999
(Unaudited, in thousands, except per share data)
————————————————-
Service
Industries
Group Retek eHNC Consolidated
———— ——- —— ————
Revenues $ 33,343 $ 21,043 $ 1,547 $ 55,933
% of revenues 59.6% 37.6% 2.8% 100.0%
———————————————————————-
Operating income (loss),
excluding acquisition-
related expenses $ 5,076 $ 3,233 $ (259) $ 8,050 (3)
———————————————————————-
Diluted operational net
income per share $ 0.22 (4)

Diluted net income per share $ 0.13
———————————————————————-

(3) Excludes $2,056 of acquisition-related amortization.

(4) Based on: (a) diluted operational net income of $5,859, computed
as operating income of $8,050 plus other net income of $1,325
fully taxed at a 37.5% tax rate divided by (b) weighted average
shares of 27,230, computed as 25,000 shares used in computing
diluted net loss per share plus 2,230 shares from the assumed
conversion of $100 million of Convertible Notes.

SELECTED YEAR-TO-DATE FINANCIAL RESULTS

Six Months Ended June 30, 2000
(Unaudited, in thousands, except per share data)
————————————————
Service
Industries
Group Retek eHNC Consolidated
———— ——- —— ————
Revenues $ 85,270 $ 33,552 $ 3,173 $ 121,995
% of revenues 69.9% 27.5% 2.6% 100.0%
———————————————————————-
Operating income (loss),
excluding
acquisition-related
expenses and
stock-based compensation
charges $ 9,495 $(27,432) $(6,996) $(24,933)(5)
———————————————————————-
Diluted operational net
loss per share $ (0.26)(6)
Diluted net loss per share $ (1.22)
———————————————————————-

(5) Excludes $15,512 of acquisition-related amortization, $6,472 of
in-process research and development and $4,537 of stock-based
compensation charges.

(6) Based on: (a) diluted operational net loss of $8,237, computed as
operating loss of $24,933 plus other net income of $6,335 and
minority interest of $5,419, fully taxed at a 37.5% tax rate
divided by (b) weighted average shares of 31,110, computed as
26,529 shares used in computing diluted net loss per share plus
2,351 weighted average options, ESPP shares and warrants, and
2,230 shares from the assumed conversion of $100 million of
Convertible Notes.

Six Months Ended June 30, 1999
(Unaudited, in thousands, except per share data)
————————————————
Service
Industries
Group Retek eHNC Consolidated
———— ——- —— ————
Revenues $ 63,968 $ 37,690 $ 3,464 $ 105,122
% of revenues 60.8% 35.9% 3.3% 100.0%
———————————————————————-
Operating income (loss),
excluding acquisition-
related expenses $ 7,734 $ 6,308 $ (55) $ 13,987 (7)
———————————————————————-
Diluted operational net
income per share $ 0.38 (8)
Diluted net income per share $ 0.21
———————————————————————-

(7) Excludes $4,308 of acquisition-related amortization.

(8) Based on: (a) diluted operational net income of $10,598, computed
as operating income of $13,987 plus other net income of $2,970
fully taxed at a 37.5% tax rate divided by (b) weighted average
shares of 27,936, computed as 25,706 shares used in computing
diluted net loss per share 2,230 shares from the assumed
conversion of $100 million of Convertible Notes.

SECOND QUARTER HIGHLIGHTS

Customer Contracts

— HNC’s Service Industries Group signed 74 customer contracts including:
— 32 new customer contracts: 11 in financial services; 16 in insurance, and
five in telecommunications, and
— 42 existing customers that purchased additional software products and
services.
— HNC’s e-commerce division signed nine new customers, and received one new
license from an existing customer. Introduction of New ASP Services
— HNC announced ASP service offerings including:
— ATACS Online(TM), a new Web-enabled version of ATACS, HNC’s
telecommunications fraud detection solution. AXXENT Inc., a Canadian
competitive local exchange carrier (CLEC), signed a multi-year service
agreement for the service.
— Capstone Express(TM), a flexible new service that intelligently automates
decisions concerning credit card, consumer and auto loan, line of credit,
business loan or mortgage applications.
— HNC entered into strategic partnerships with First Data Corp. and
Equifax to
deliver a new generation of HNC’s eFalcon(TM) Internet fraud detection
solution
to their global customer bases.

Expanded Marketing Optimization Solutions

HNC’s marketing optimization solutions can now enable financial
institutions to
drive cross-sell marketing efforts through call centers, outbound
telemarketing
and direct mail campaigns. Two of the world’s five largest credit card issuers
have entered into contracts with HNC to optimize cross sell opportunities
within their customer accounts.

About HNC Software Inc.

Headquartered in San Diego, HNC Software Inc. (Nasdaq:HNCS) is a leading
provider of predictive software solutions for the services industry, including
financial, telecommunications, insurance and e-commerce. HNC’s suite of
predictive software solutions can provide real-time insight into customer
relationships based on transaction-level data, helping companies manage their
relationships with individual customers. By accurately predicting customer
behaviors, these companies can create initiatives to mitigate risk and
attrition; improve customer service; develop marketing programs to enhance
profitability, and detect fraudulent customer transactions.
For more information, visit HNC’s Web site at
http://www.hnc.com/>http://www.h
nc.com or contact Melinda Bateman, HNC
Software
Inc., 5935 Cornerstone Court West, San Diego, CA 92121, 858/799-3880.

HNC SOFTWARE INC.
CONSOLIDATED BALANCE SHEET
(in thousands, except per share data)

June 30, Dec. 31,
2000 1999
———- ———–
(unaudited)

Assets
Current assets:
Cash, cash equivalents and
investments available for sale $ 138,213 $ 165,518

Accounts receivable, net 62,938 64,189
Other current assets 17,494 31,528
———- ———–
Total current assets 218,645 261,235
Long term investments available for sale 76,654 68,563
Property and equipment, net 34,585 22,219
Other assets 208,572 64,404
———- ———–
$ 538,456 $ 416,421
========== ===========

Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued liabilities $ 33,276 $ 30,049
Deferred revenue 45,286 15,274
Other current liabilities 3,539 —
———- ———–
Total current liabilities 82,101 45,323
Long-term debt 100,000 100,000
Other non-current liabilities 5,325 4,111
———- ———–
Total liabilities 187,426 149,434
———- ———–

Minority interest 14,855 17,414
———- ———-

Stockholders’ equity:
Preferred stock, $0.001 par value – 4,000
shares authorized:
no shares issued or outstanding — —
Common stock, $0.001 par value – 50,000
shares authorized:
27,180 and 25,704 shares issued and
outstanding, respectively 27 26
Paid-in capital 373,927 255,444
Retained earnings (deficit) (20,152) 12,209
Accumulated other comprehensive income (loss) (2,120) 1,507
Common stock in treasury, at cost – 233
and 882 shares,
respectively (15,507) (19,613)
———- ———–
Total stockholders’ equity 336,175 249,573
———- ———–
$ 538,456 $ 416,421
========== ===========

HNC SOFTWARE INC.
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited in thousands, except per share data)

Quarter Ended Six Months Ended
June 30, June 30,
—————— —————–
2000 1999 2000 1999
——– ——– ——– ——–
Revenues:
License and maintenance $ 42,393 $ 41,336 $ 74,184 $ 77,807
Services and other 25,039 14,597 47,811 27,315
——– ——– ——– ——-
Total revenues 67,432 55,933 121,995 105,122
——– ——– ——– ———

Operating expenses:
License and maintenance 13,669 10,122 26,288 20,839
Services and other 18,414 10,327 33,462 18,984
Research and development 18,965 11,608 35,186 21,128
Sales and marketing 18,582 10,763 35,160 20,541
General and administrative 9,047 5,063 16,832 9,643
——– ——– ——– ———
Operating income (loss)
before stock-based
compensation,
acquisition-related
amortization, and
in-process research and
development expenses (11,245) 8,050 (24,933) 13,987

Stock-based compensation 2,621 — 4,537 —
Acquisition-related
amortization 11,546 2,056 15,512 4,308
In-process research and
development 5,050 — 6,472 —
——– ——– ——– ———

Operating income (loss) (30,462) 5,994 (51,454) 9,679

Other income, net 2,995 1,325 6,335 2,970
Interest expense related to
convertible debt (1,342) (1,342) (2,684) (2,684)
Minority interest in losses
of consolidated subsidiaries 3,028 — 5,419 —
——– ——– ——– ———
Income (loss) before income
tax provision (benefit) (25,781) 5,977 (42,384) 9,965

Income tax provision (benefit) (5,636) 2,632 (10,023) 4,496
——– ——– ——– ——–

Net income (loss) $(20,145) $ 3,345 $(32,361) $ 5,469
======== ======== ======== =========

Net income (loss) per share:
Basic net income (loss)
per share $ (0.75) $ 0.14 $ (1.22) $ 0.22
======== ======== ======== ========
Diluted net income (loss)
per share $ (0.75) $ 0.13 $ (1.22) $ 0.21
======== ======== ======== =========
Shares used in computing
basic net income (loss)
per share 26,955 24,498 26,529 25,078
======== ======== ======== =========
Shares used in computing
diluted net income (loss)
per share 26,955 25,000 26,529 25,706
======== ======== ======== =========
Diluted operational net
income (loss) per share $ (0.11) $ 0.22 $ ( 0.26) $ 0.38
======== ======== ======== =========
Shares used in computing
diluted operational net
income (loss) per share 30,570 27,230 31,110 27,936
======== ======== ======== =========

Details

Freedom Card

CA-based Freedom Financial Services has enlisted Planet411.com to provide e-tailing services for its ‘FreedomCard’. The ‘FreedomCard’ is a sub-prime MasterCard issued through DE-based Cross Country Bank. FFS says its product is targeted at the 76 million minorities and other underserved consumers nationwide who currently have little or no credit. The partnership with Montreal-based Planet411 will bring digital currency to the sub-prime ‘FreedomCard MasterCard’. Jack Kemp, former Republican Vice Presidential candidate sits on FFS’ board. John Chalsty, chairman of Donaldson, Lufkin & Jenrette has invested $1 million into the firm. FreedomCard bills itself as the nation’s first minority-owned unsecured credit card designed specifically to meet the growing demands of African-Americans and Hispanic Americans who currently have little or no credit.

Details

MarketAccess

Inc.com, the Internet destination devoted to bringing the most comprehensive, high-quality management resources and tools to small businesses, announced an agreement with MasterCard International that provides the global payments company’s small business Web site –[http://www.mastercard.com/ma>][1]– with inc.com’s award-winning and trusted content. With MarketAccess, small businesses can securely and easily purchase goods and services at great prices, as well as set-up and maintain a free Web site with e-commerce capabilities all within the same Internet location.

“Inc.com is committed to meeting the needs of small businesses and we’re proud to use inc.com’s content on MarketAccess,” said Steve Abrams, senior vice president of Corporate Payment Solutions at MasterCard. “Small businesses have everything to gain from the MasterCard and inc.com relationship–valued buying opportunities and technology aligned with inc.com’s sharp, insightful content that will help small businesses run their businesses.”

MasterCard will display inc.com award-winning articles relating to e-commerce, Internet and business technology. In addition, visitors will have access to the inc.com archive, allowing them to explore inc.com’s back issues for a broad variety of small business information, tools and products.

“Through our alliances, we are extending our outreach to small business owners by providing them with the information, resources, tools and supplies that will help grow their business,” said inc.com CEO Bob LaPointe. “As inc.com content is found throughout numerous small business service sites, we continue to support the Inc. brand mission to be the definitive small business resource on the web.”

A virtual small business center and e-commerce site, inc.com provides small business owners with trusted information, tested products and proven solutions that will help them grow. Inc.com saves business owners time with practical information such as business plan templates, advice on how to incorporate, how to get venture capital and how to build a Web site. The site includes nearly 50 content providers and 100 different tools as well as informative bulletin boards with high profile mentors.

About inc.com

Headquartered in Charlestown, Mass., inc.com fills a market need by providing a total service Web destination site for small businesses seeking the broadest variety of high-quality management resources. An outstanding, comprehensive site, inc.com facilitates fast, intuitive access to an unrivaled range of quality products, services , information and advice. This one-stop destination eliminates Internet clutter by assembling best-of-breed solutions that are rigorously tested by inc.com’s technical staff before being awarded the trademarked inc.com “Click of Approval. Through this process, inc.com leverages and extends the unmatched reputation of Inc. magazine, the brand of choice and integrity among small businesses.

About MasterCard

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard(R), Cirrus(R) and Maestro(R) logos are present on credit, charge and debit cards in circulation today. An association comprised of 22,000- member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. In 1999, gross dollar volume exceeded US$727 billion. MasterCard can be reached through its World Wide Web site at [http://www.mastercard.com][2].

[1]: http://www.mastercard.com/ma
[2]: http://www.mastercard.com/

Details

iWon Credit Card

Capital One and iWon.com announced Tuesday they are launching the ‘iWon-Capital One’ credit card. The program, scheduled to launch later this summer, will enable iWon cardholders to earn additional entries into iWon’s daily sweepstakes. Cardholders will be able to earn 50 entries per transaction (up to 500 per month) into iWon.com’s monthly $1 million sweepstakes and annual $10 million sweepstakes. Launched 10 months ago, iWon gives away to users, $10,000 every day, 30 prizes of $1,000 every week, $1 million every month and $10 million on Tax Day. By simply using the site to search the Web, check email, go shopping, read the news, or perform other regular Internet activities, iWon.com users earn entries with practically every click. To date the CBS-funded iWon, has given away more than $22 million in cash prizes.

Details

MC & Motorola

MasterCard International and Motorola, Inc. believe that mobile commerce – the ability to manage purchases and financial transactions on-the-go using wireless Internet devices -represents the future of e-commerce.

In support of this, the two companies announced that each will commit resources in a joint effort to make m-commerce a reality for consumers worldwide. Motorola and MasterCard will collaborate on continuing research and development projects to assure interoperability between MasterCard’s electronic payment systems and Motorola’s wireless Internet devices and platforms. The two companies plan to develop next-generation m-commerce technologies that support the initiatives of the newly formed Global Mobile Commerce Interoperability Group (GMCIG), of which both companies are key members. The alliance also includes cooperation on a number of key initiatives to promote the benefits of m-commerce to consumers through joint marketing activities.

![][1] “This collaboration is a critical step that will speed the delivery of e-commerce capabilities to the mobile consumer, thereby enabling m-commerce, and ensuring that the experience is superb,” said Janiece Webb, senior vice president and general manager of Motorola’s Personal Networks Group. “Imagine being on a business trip and receiving notification via your mobile phone that your flight has been cancelled. With m-commerce, you will be able to find another flight and charge a new airline ticket all via your mobile phone, which is now also a mobile Internet device. This is one of endless possibilities with m-commerce.”

The agreement between MasterCard and Motorola includes Europay International, MasterCard’s European affiliate, for the promotion of m-commerce throughout Europe. The companies also plan to work together to adapt existing, intelligent payment systems for the mobile environment. These systems include MasterCard M/Chip(TM), its chip-based integrated credit/debit system, and Mondex(TM), MasterCard’s chip-based electronic cash payment system.

“MasterCard is moving at web speed to work with Motorola and its other alliances to develop secure methods for payment to service the growing mobile electronic commerce sector,” said Chris Jarman, senior vice president, Mobile Commerce, MasterCard International. “MasterCard’s partnership with leading IT companies will provide our member financial institution’s customers the most advanced mobile technologies available now and in the future.”

Motorola’s alliance with MasterCard will enable Motorola to work closely with MasterCard’s 22,000 member financial institutions. As a result, Motorola expects to realize continued improvements in the capabilities and functionality of its existing wireless Internet devices and platforms.

Both companies also will benefit from the respective experience, leadership and brand recognition of the other – Motorola with its reputation as a global communications leader and pioneer of the wireless Internet, and MasterCard as the most widely-accepted electronic payment brand in the world and a catalyst for the development of m-commerce solutions.

About the GMCIG

The Global Mobile Commerce Interoperability Group (GMCIG) was formed in June 2000 as an evolution of MasterCard’s and Europay’s early contributions in the area of wireless payment models. The GMCIG offers participants a global and open organization to develop and promote secure wireless payment standards. The organization seeks contributions from all players in the marketplace including network operators, device manufacturers, mobile technology and content providers, financial institutions, and other global payment associations.

About Motorola

Motorola, Inc. is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales in 1999 were US$ 33.1 billion. Additional information is available at [www.motorola.com][2]. About MasterCard

MasterCard International has the most comprehensive portfolio of payment brands in the world. More than 1 billion MasterCard(R), Cirrus and Maestro(R) logos are present on credit, charge, and debit cards in circulation today. An association comprised of 22,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is the leader in quality innovation, offering a wide range of payment solutions in the virtual and traditional worlds. With more than 18 million acceptance locations, no card is accepted in more places and by more merchants than MasterCard card. In 1999, gross dollar volume exceeded US$ 727 billion. MasterCard can be reached through its World Wide Web at: [www.mastercard.com][3]

About Europay International

Europay International, headquartered in Waterloo, Belgium, is europe’s leading payments organisation, dedicated to providing a tailored product range and support services to its more than 9,000 Member banks. At present, over 243 million cards(Eurocard-MasterCard, Maestro, Cirrus and eurocheque) provide European and global debit and credit card services, and offer cash access to Europe’s largest network of more than 248,000 ATM’s in 41 countries. Through its alliance with MasterCard International, 541,000 ATM’s and over 17 million retail locations worldwide accept europay products. Europay’s website at [www.europay.com][4] gives a detailed view on the company’s products and services and shows how Europay offers its Member banks both support and leadership on issues including virtual commerce, chip technology, security & risk management, and the advent of the euro.

[1]: /graphic/motorola/motorola.jpg
[2]: http://www.motorola.com/
[3]: http://www.mastercard.com/
[4]: http://www.europay.com/

Details

FDMS Signs ISO

First Data Merchant Services, a First Data Corp. subsidiary, announced that First American Payment Systems, an Independent Sales Organization, has signed a long-term contract with FDMS for merchant processing services.

Under the agreement, First Data will provide First American Payment Systems with both core accounting and front-end authorizations and capture services. This agreement is expected to bring in over 75,000 new accounts. First American Payment Systems focuses on small- and medium-sized merchants including retail, restaurant, mail/telephone order, wholesale, start-up, home- based and e-commerce.

“After weighing many options, we selected First Data Merchant Services because of their commitment to the business, program support and innovative product set,” said Neil L. Randel, president and chief executive officer of First American Payment Systems. “First Data Merchant Services’ expertise in processing combined with our experience and infrastructure translates to a winning combination to achieve our short-term and long-term goals.” “Through our partnership with top performing ISO’s including world-class First American Payment Systems, First Data Merchant Services continues to demonstrate its commitment to the ISO marketplace,” said Kurt Strawhecker, senior vice president of FDMS.

About First Data

Atlanta-based First Data Corp. is a global leader in electronic commerce and payment services. Serving more than two million merchant locations, more than 1,400 card issuers and millions of consumers, First Data makes it easier, faster and more secure for people and businesses to buy goods and services, using virtually any form of payment: credit, debit, stored-value card or check at the point-of-sale, over the Internet or by money wire. For more information, please visit the company’s Web site at . About First American Payment Systems

First American Payment Systems, a privately owned corporation founded in 1990, provides full-service electronic credit card authorization and payment systems to retail, restaurant, mail order, telephone order, Internet and home- based merchants throughout the United States. First American’s other divisions include national ATM deployment, Secur-Chex(TM) check guarantee, FirstPay.Net e-commerce payment gateway and Merimac Capital point-of-sale equipment and ATM leasing. For more information on First American Payment Systems, visit the company’s Web site at .

Details

Associates 2Q/00

Associates reported yesterday 2Q/00 receivables of $13.6 billion compared to $13.2 billion for the prior quarter and $10.7 billion one year ago. The 60+ day delinquency rate for the quarter ending June 30 stood at 3.77% compared to 3.88% for the first quarter and 4.13% for 2Q/99. Credit card chargeoffs also decreased to 5.77% compared to 5.81% for prior quarter and 7.55% one year ago. Associates reported second quarter earnings of $409 million, a 14.8% increase per share over the same period a year earlier. For complete details on Associates 2Q/00 results visit CardData (www.carddata.com).

Details

Frisco Bay ATMs

Frisco Bay Industries Ltd. announced that Frisco/ATMS, the joint venture between Frisco Bay Industries Ltd. and G.M. Automated Teller Machines Inc., has acquired the ATM network of Gava A.T.M. Ltd. The acquisition of 98 sites will significantly enhance Frisco Bay’s already predominant position in the White Label ATM marketplace in Canada. Terms of the acquisition were not disclosed.

The sites, located in Quebec, bring the Frisco Bay Canadian network of machines to over 600 units. Based on current volumes, Frisco Bay projects that it will process over 6 million transactions this year.

Ron Waxman, Vice-Chairman of Frisco Bay, stated, “this recent acquisition greatly increases our market share of ATMs in the province of Quebec and solidifies our goal of capturing prime real estate locations throughout Quebec and the rest of Canada”.

Frisco Bay Industries Ltd. is an international provider of automated financial transaction and integrated security systems for financial institutions, government agencies and major industrial corporations. The Company markets its products throughout Canada, the United States and Latin America where it is recognized as an integrated solutions expert.

Statements made in this press release, other than historical financial results, are forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements express the current beliefs and expectations of Frisco Bay’s management group about the Company’s future results and performance. However, they are subject to a number of known and unknown risks that could cause actual results to differ materially from those projected or implied in forward-looking statements. These risks and uncertainties are described in detail from time to time in the Company’s filings with the Securities and Exchange Commission.

Details

SILA Goes Java SIM

Aether Systems, Inc. announced that its European venture with Reuters, SILA Communications, has signed a worldwide licensing agreement with Schlumberger, a major manufacturer and designer of smart-card-based solutions.

SILA, owned 60 percent by Aether and 40 percent by Reuters, is a leading provider of wireless application services for mobile devices in Europe and Asia. The agreement means that Schlumberger Simera’s Java SIM cards will host SILA’s software allowing large volumes of data, such as market and share changes, to be transmitted to mobile phones and other wireless devices quickly and at minimal cost.

The compression software that SILA has developed means that high volumes of data and broadband services can be compressed into small packages and sent to any device over the limited amounts of bandwidth currently available. Schlumberger Java card technology enables both easy integration of the SILA software into the mobile environment and brings end-user interactivity. The Simera card decompresses the information and allows mobile subscribers to adjust their shares portfolio.

SILA Communications is initially targeting its broadband service at the financial sector, providing users with up to date information on movement in the markets, fast-breaking news and sports to any wireless device.

“Up until now, traders have been able to view stock movements using paging devices but have been unable to react to them,” says Bo Kroll, president of SILA. “The deal with Schlumberger means that mobile devices will soon be fitted with decompression software that will enable us to offer up to the minute financial information enhanced with full two way transaction capability alongside other broadband services. ”

Eric Claudel, Vice President Mobile Communications for Schlumberger in Europe, comments. “The agreement with SILA is another milestone in our commitment to provide a wide portfolio of value-added services within an open Java environment. In less than a year, most mobile devices will be fitted with the capability to receive and display a range of information in a format that is cost effective for operators to provide and easy for customers to use.”

Although the focus is currently on the financial sector, the decompression software embedded in the SIM card will enable SILA Communications to offer a range of personalised services and information from sports fixtures and latest scores to local entertainment guides.

SILA Communications, formed in May 2000 with an initial capitalization of $167 million, is in the process of granting a number of operating licenses to mobile phone network operators for the commercial use of the SILA system.

Details

Citi-AOL Deal

Citigroup and America Online formed a major multi-year strategic alliance to offer users of AOL, CompuServe, and other of the AOL brands a wide range of financial products and services and new payment capabilities. Under terms of the agreement the two companies will build new payment and money transfer features across AOL, AOL.COM, CompuServe, Netscape Netcenter, AOLTV and Digital City, as well as AOL Instant Messenger and ICQ. Citigroup will also become a preferred provider of a full range of financial products and services , including Citibank credit cards. Consumers will be able to access Citigroup’s payment capabilities and products through the AOL brands beginning in the fall. Also as part of the agreement, Citigroup will also promote AOL products and services on Web sites and through other customer outreach.

Details

PayToCard Hosting

PSINet Inc. and eCommony Inc., a provider of person-to-person (P2P) payment solutions, announced a global partnership agreement. Under the terms of the alliance, eCommony will use PSINet’s hosting services for it’s PayToCard international payment infrastructure, while PSINet will leverage eCommony’s infrastructure to offer a full range of payment solutions to its e-commerce customers.

The PayToCard Network ([http://www.paytocard.com][1]) offers every website, host, portal and Internet service provider (ISP) a complete drop-in person-to-person credit card payment infrastructure. Any website can enable P2P e-commerce in hours, and for the first time, individuals can electronically accept secure credit card payments at the website of their choice, without registering at third party websites.

“PayToCard is the best available infrastructure for P2P payments processing,” said Daniel R. Meltzer, PSINet branch director in New York. . “We are very excited at the opportunity to cooperate with eCommony and intend to participate in their upcoming round of financing.”

According to Saar Safra, chief technology officer of eCommony, “Since we’re the first P2P financial infrastructure for websites, we wanted the most substantial player in the ISP market to host our production servers. After checking various alternatives, we found that only PSINet offers the three most important elements a financial infrastucture needs: availability, credibility, and service.

eCommony is currently using PSINet’s hosting services on both coasts of the U.S. By the end of the year, eCommony will open more production centres, first in Europe, then around the world.

About PSINet

Headquartered in Herndon, VA, PSINet is an Internet Super Carrier offering global eCommerce infrastructures, end-to-end IT solutions and a full suite of retail and wholesale Internet services through fully-owned PSINet subsidiaries.

Services are provided on PSINet-owned and -operated fibre, satellite, Web hosting and switching facilities, providing direct access in more than 900 metropolitan areas in 29 countries on five continents. PSINet information may be obtained by e-mail at info@psi.com, by accessing the Web site at [http://www.psinet.com][2], or by calling +1 800-799-0676 within the continental US. PSINet Transaction Solutions, headquartered in Reston, Virginia, is a fully-owned subsidiary that provides data communications services for transaction-oriented applications.

About eCommony, Inc.

Founded in 1999, eCommony Inc. designs, develops and markets innovative, patent-pending solutions enabling Person-to-Person (P2P) e-commerce over the Internet. eCommony’s technology is best suited to serve any site providing auctions, classifieds, e-consulting, e-service and garage/yard sales as well as private Shareware sellers. eCommony’s innovative, patent-pending risk management technology is designed to fit the specific needs of the P2P market. For more information, please visit the company’s website at [http://www.ecommony.com][3] To see the contact details for this release click here. Contact information for releases is available to registered visitors only.

[1]: http://www.paytocard.com/
[2]: http://www.psinet.com/
[3]: http://www.ecommony.com/

Details