ACEC News Release

The VISA-funded Americans for Consumer Education and Competition issued another press release Friday highlighting last week’s trial testimony by AmEx chief Harvey Golub. ACEC says Golub’s statement that “banks can charge more because of AmEx’s higher merchant rate” shows that consumers stand to lose to AmEx wins. ACEC head Susan Molinari says “Boosting merchants’ fees raises billions of dollars, the cost of which must ultimately be borne by consumers”. ACEC continues to run full-page ads in such publications as the Wall Street Journal claiming that American Express is using the court system to recover from past business mistakes.


SUMmedia + E-xact Inc.’s [][1], and e-commerce solutions provider E-xact Transactions Ltd. announced the signing of an agreement that calls for E-xact’s real-time payment solutions to power’s coupon design and hosting transactions on the site. The self-service “online coupon store” offers merchants the world’s first fully Web-constructed online coupons. Our secure transaction “ubuild” coupon service is accessible through [][2].

Designed to empower consumers to make their own choices for discounted purchases worldwide, now offers merchants the opportunity to build their own coupons directly on the site. Once merchants complete the “do-it-yourself” coupon design process in a matter of minutes with user-friendly wizards, they can pay for the coupon hosting on the savingumoney site. E-xact’s transaction service debits the merchant’s credit card in real-time, on a monthly basis or as per other specific payment terms.

![][3] In addition to its powerful transaction processing software, which easily integrates into all major platforms and interfaces with major banks in North America, E-xact provides detailed browser-based reports for its customers that allow businesses such as to make more informed and timely decisions. For example, authorized users can `tap in’ at any time to check on sales performance in real time, accessing data on its various sales locations, credit card usage, revenue comparisons, etc.

“We chose E-xact to power the transactions with our business partners worldwide because they offered a flexible, easy-to-integrate technology solution,” said Grant Petersen, CEO of “In addition, E-xact offers us a powerful intelligence tool that provides value-added analysis and tracking reports that allow us to check on our site’s performance at anytime from any location.”

“E-xact offers e-commerce solutions to a variety of businesses to facilitate transactions and provide critical management information,” said Ted Henderson, President and CEO of E-xact Transactions. “While management is empowered to monitor’s performance through E-xact’s intelligence reports, their customers experience a seamless online transaction to get started, as well as flexible online billing with the option to continue the program or make changes.”

About E-xact Transactions Ltd.

With customers in the U.S. and Canada, E-xact Transaction’s popular online transaction software offers a robust e-commerce solution for companies selling goods and services in a variety of settings. Built with flexible architecture, E-xact’s software can be easily integrated into a wide range of platforms. Included in this transaction processing solution is a suite of browser-based, value-added reporting modules that enable merchants to better analyze and manage their e-commerce business in real time.

E-xact’s downloadable software, available from its website [][4], can process all leading forms of credit card payments and is certified to process transactions with major banks in North America.

Founded in Vancouver in 1998, E-xact Transactions Ltd. redomiciled to the state of Delaware in July of 1999 and established U.S. headquarters in Lakewood, CO in December of 1999. E-xact continues to operate its international office in Vancouver and its stock is currently traded on the Canadian Venture Exchange (CDNX: EXZ.U).

About Inc.

Founded in 1999, (NASD OTC BB: ISUM) is a consumer and small business empowering company that provides online coupons through its eCoupon portal,’s products and services enable the millions of smaller companies without Web expertise to easily and inexpensively increase their sales by using the eCouponing phenomenon to target and entice shoppers. cumulatively hosts more than 19,000 coupons worldwide for redemption in major centers across Canada, the United States, Hong Kong and Australia.

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CyberCash Research Head

CyberCash, Inc. announced that it has named Krishna G. Kushwaha to the new position of Executive Vice President of Research and Development.

Kushwaha joins CyberCash from Nortel Networks, where he spent the past 22 years in a variety of technical development positions. At CyberCash, Kushwaha will focus on developing new products and services, as well as enhancing the company’s existing line of industry leading payment software and service offerings.

“We couldn’t be more pleased to welcome Krishna to the CyberCash family. He will help CyberCash expand its lead as a pioneer and innovator in the Internet payment space, working to both create new products and enhance our existing software and service offerings. Only by having the very best people and technologies can we continue to maintain our position as a pioneer and leading innovator in Internet payment services and software. And we intend to do just that,” said James J. Condon, President and Chief Executive Officer of CyberCash.

During his career at Nortel Networks, Kushwaha worked directly for Nortel and for its research and development subsidiary, then known as Bell Northern Research. He has work experience in Canada, the United States and his native India. Most recently, Kushwaha was R&D Director of Nortel’s Access Networks and RT1000, a key call center product. He holds a bachelor’s degree from India’s oldest engineering college, the University of Roorkee. Kushwaha also holds a Master’s degree in electrical engineering and a Ph.D. in Systems Design, both from Canada’s University of Waterloo.

For more information about CyberCash products, services and partners, visit the company’s Web site at [][1].

About CyberCash

CyberCash, Inc., is the world’s leading provider of Internet payment services and electronic payment software. The company uniquely provides services to 25,000 Internet merchants and has shipped more than 145,000 copies of its software products. CyberCash offers the broadest reach in the payment industry with a comprehensive distribution network that includes direct and indirect sales as well as marketing partnerships with financial institutions, Internet service providers, application service providers, storefront solution providers and leading independent software vendors.



UPS MasterCard Update, the business-to-business website for the exhibitors and buyers of AmericasMart Atlanta, has expanded the buying potential of AmericasMart exhibitors and buyers through an exclusive partnership with UPS Capital Corp., the financial services arm of UPS. Together, and UPS Capital are co-branding a hybrid private label credit line “The Account” that will offer buyers quick and easy purchasing options and provide exhibitors with financial savings. and UPS Capital made the announcement at a media briefing to coincide with the beginning of AmericasMart Atlanta July Market.

AmericasMart Atlanta is the nation’s largest wholesale market offering specialty gift, home furnishings, area rug and apparel products. The wholesale market with more than forty years experience, AmericasMart Atlanta annually serves more than 5,000 exhibitors and 200,000 retail buyers from 72 countries. is an independent trading exchange created to enable transactions between buyers and vendors.

Helping to facilitate the actual transaction between buyer and exhibitor marks a first for AmericasMart Atlanta and UPS Capital, and adds extra value to’s e-commerce solutions. This new financial option, which offers an unsecured, revolving line of credit and includes a credit card, enables exhibitors who honor this account to obtain immediate transaction authorizations based on the status of buyers’ accounts.

“Manufacturers and buys worldwide recognize AmericasMart Atlanta as the global industry leader with four decades of experience. But, experience is at its best when it serves as the foundation for launching the future. Today, AmericasMart exhibitors and retailers are assured that they can conduct e-commerce facilitated through the financial options made possible by the partnership with UPS Capital,” said John C. Portman, Jr., chairman of AMC, Inc., parent company of AmericasMart and chief executive officer, Joe Farrugia added, “By offering The Account, and UPS Capital can establish the rates and fees exhibitors will pay to conduct transactions. We plan to offer a lower rate than exhibitors normally pay. This will help all of our customers, especially small businesses, who will appreciate the financial benefits the line of credit offers.” and UPS Capital further extend their credit capabilities to buyers and exhibitors alike by offering a MasterCard(TM) business credit card, which can be used at the more than 17 million locations worldwide where MasterCard(TM) is accepted. The credit card option provides customers with an economical way to add functionality to their purchasing processes. buyers and exhibitors will have the option of offering their employees separate credit cards with individual lines of credit. and UPS Capital will add functionality to the card by making a number of Internet tools available such as expense reports for employee cardholders, transaction tracking and management reporting. Additional features will be made available.

“The benefits of our program have universal application. We believe it adds value to any company seeking a more efficient and convenient way to run its business,” said Bob Bernabucci, president, UPS Capital. “We are pleased to join with to offer a unique program that helps small businesses, many of whom have been UPS customers for decades.” ([][1]) is an independent online global marketplace providing e-commerce and informational services for exhibitors (wholesalers, manufacturers and sales representatives) and buyers (retailers) of AmericasMart, home of the nation’s largest gift, home furnishings, area rug and apparel markets. In addition to the electronic showrooms that are segmented into nine product categories for user convenience, provides services such as online order placement, market research, industry news and market travel for buyers and exhibitors during and between markets and trade shows, adding e-commerce efficiency, convenience and reach.

UPS Capital Corporation is a wholly owned subsidiary of UPS (NYSE: UPS). Its mission is to provide a comprehensive menu of integrated financial products and services that enable companies to grow their business. UPS Capital’s growing product portfolio is designed to deliver a one-stop solution to the capital needs of any enterprise. UPS Capital also offers the following products: Next Day Leasing, C.O.D. Enhanced Services, Distribution Finance, and Global Trade Finance. Founded in 1998, UPS Capital is based in Atlanta, Ga., and resides on the Web at [][2].



Taste Card

The dining card has gone international. Transmedia Asia Pacific and Transmedia Europe introduced this morning the ‘Taste Card’ in the UK. The announcement follows the decision to terminate, by mutual consent, the companies’ license agreements with Miami-based Transmedia Network, Inc. In December, Transmedia Asia Pacific and Transmedia Europe agreed to merge. Under the new UK program, members receive a transactional card and access to a complete online directory of participating restaurants. The ‘Taste Card’ offers savings up to 25% on dining expenses. The card is linked to a designated credit card including AmEx, VISA, MasterCard or Delta and is presented for bill payment. The member’s credit card statement shows the net amount paid after the discount is applied but does not include VAT or tip. The firm plans to add online reservations, wireless applications and reviews, by year’s end to its Web site. Transmedia Network, issuer of the ‘Dining A La Card’, has 2.7 million members and more than 10,000 participating restaurants throughout the USA. Two weeks ago America West Airlines and Transmedia Network joined up to create ‘FlightFund Dining’ for America West’s frequent flyer members.


Proton LBV

Proton World announced that it has signed an Original Equipment Manufacturer Agreement with Keyware Technologies, the world’s leading provider of biometric solutions for cardholder authentication and identification.

Proton World and Keyware Technologies are already established technology partners. The two companies introduced their proof-of-concept integration of the Proton e-purse and Keyware’s Layered Biometric Verification at the Smart Card 2000 trade show in London in February 2000, where it won the Advanced Card Award for the Best New Security Product.

Under the terms of the OEM agreement, the collaboration between the two companies is extended and strengthened: Proton World will offer an optional biometrics component, using the Keyware LBV system as an “add-on” to other applications in its end-to-end smart card solutions and gains the right to license its use by third parties.

The new component will include a Fingerprint Verification Module, developed by Keyware Technologies, that will read fingerprints, compare them with bio prints strored on the Proton card and then send encrypted data to the Proton terminal. The necessary terminal software development will be done by Proton World and the interface between the module and the terminal will be designed and developed by a joint Proton World/Keyware Technologies development team.

The two companies will create and implement a joint world-wide marketing plan, including current Proton World licensees.

Dr. Armand Linkens, managing director and CEO of Proton World, said “The security of Proton solutions is admired around the world and we will keep our position as the market leader in this domain. Biometrics is the next-generation technique, which will replace PIN codes whilst remaining user-friendly. This Agreement allows us to respond immediately to requests we have already received from our licensees in developing countries and also to offer a range of security options to new customers, according to their individual requirements.”

Mr. Francis Declerq, president and CEO of Keyware Technologies, said “The combination of biometric technology and smart cards produces obvious synergies. Bioprints, such as voice, fingerprint or face, can be easily stored on a smart card for a variety of security purposes. Keyware is excited to name Proton World as our newest customer. Together, Proton World and Keyware will make smart card technology more and more secure.”

About Proton World

PROTON WORLD was created by major smart card players (American Express, Banksys, ERG, Interpay and Visa International) to give a boost to common smart card and electronic purses standards. Proton World is a high-technology company, which delivers global smart card solutions world-wide. It continues the development and licensing of Proton smart card applications, which have already been chosen by 20 countries. The Proton technology is the most broadly implemented in national roll-outs and is the most actively used world-wide: the Proton-based smart card schemes have together performed more than 166 million e-purse transactions since they have been introduced. It also has the largest acceptance base, with more than 280,000 terminals installed world-wide.

Multiple applications are available today using Proton (for example electronic commerce, access controls, loyalty schemes, calling cards, university campus cards, etc.). Proton World supports a variety of technologies and specifications to deliver open, interoperable and global smart card solutions. It is implementing the Common Electronic Purse Specifications (CEPS) to ensure interoperability of electronic purse schemes world-wide.

About Keyware Technologies

Founded in 1996, Keyware Technologies is a pioneer in the field of biometrics, the technology of verifying an individual’s identity by means of personal characteristics such as voice, face and fingerprints. Co-headquartered in Belgium and Woburn, Mass., Keyware is the world’s leading provider of intelligent biometric solutions for real world business applications. The solutions optimise security and convenience for physical locations, e-commerce, network and telecommunications applications. Keyware’s award-winning technology is sold globally through an extended network of OEMs, system integrators and VARs.


MBNA Quantum

Perfect Plastic Printing has shipped its first order of Quantum Translucent Visa and MasterCard to MBNA America Bank, the world’s largest independent credit card lender.

PPP translucent (patent pending) card use technology, rather than opaqueness to allow the translucent card to operate in ATM and POS equipment around the world.

The MBNA Quantum card is the first translucent Visa and MasterCard issued in the world and sets a new standard in card issuance and technology.

For more information, contact Ted Liberlowski at (630) 584-1600.


BancorpSouth/FDR Deal

First Data Resources, a subsidiary of electronic payments leader First Data Corp. announced it has signed a five-year agreement with BancorpSouth to provide both online and offline processing for 100,000 debit cards and network gateway services for 40,000 ATM cards.

First Data’s industry-leading Integrated Debit Services solution offers a full range of debit processing services, including signature-based offline processing, PIN-based online processing, ATM processing and stored value card processing.

BancorpSouth, based in Tupelo, Miss., offers a debit card with the MasterCard brand.

“First Data’s complete solution provides everything we need to manage, grow and protect our debit card portfolio,” said Michael Lindsey, first vice president and manager of alternative delivery services, BancorpSouth.

First Data provides offline, online and ATM processing for more than 56 million debit cards issued by more than 500 financial institutions.  As of March 31, First Data processed over 322 million off-line debit card transactions — a 47 percent increase in the number of transactions handled during the same period for the previous year.  As the industry leader in debit processing, First Data offers a full range of online debit processing services and is currently leveraging the strength of its offline processing system to create the most comprehensive, integrated deposit-access solution for its clients.  First Data processed more than 1.16 billion off-line debit card transactions in 1999.

“First Data is committed to developing services that reduce our clients’ overall debit card processing costs while helping them effectively manage their cardholder relationships.   By integrating online services and tools into our debit processing system, First Data delivers a complex debit solution,” said Douglas McNary, who leads First Data’s Integrated Debit Services organization.  “We are pleased to partner with BancorpSouth and look forward to working with BancorpSouth to achieve the goals for their portfolio.”

About BancorpSouth

Headquartered in Tupelo, Miss., BancorpSouth is a financial services company with $5.8 billion in assets operating 167 banking and mortgage locations and 170 ATMs in 87 Mississippi, Tennessee and Alabama communities. The Company also provides investment services through its subsidiary, BancorpSouth Investment Services Inc. and insurance services through BancorpSouth Insurance Services.  BancorpSouth’s common stock is traded on the New York Stock Exchange under the symbol BXS.

About First Data

Atlanta-based First Data Corp. (NYSE: FDC) helps move the world’s money. As the leader in electronic commerce and payment services, First Data serves more than two million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services using virtually any form of payment.  With more than 30,000 employees worldwide, the company provides credit, debit and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; money transfers and money orders; and check processing and verification services throughout the United States, United Kingdom, Australia, Mexico, Spain and Germany.  In addition, its Western Union(R) network includes approximately 86,000 agent locations with operations in 178 countries and territories.  For more information, please visit the company’s web site at [][1] .



Cybermoola Footaction

San Francisco-based Cybermoola has inked a deal to offer its prepaid cards in the Dallas-area stores of Footaction USA. The program allows consumers to shop online with cash. Select Footaction stores now sell ‘Cybermoola’ cards, which can be bought with cash and then used to shop at Web stores, including A consumer purchasing ‘Cybermoola’ at a brick-and-mortar location enters the card’s unique serial number at Cybermoola’s Web site, and uses an online account to shop at any site accepting ‘Cybermoola’ as a payment option. Footaction USA operates 551 primarily mall-based stores in 43 states.


Orion/TVS Merger

Orion Technologies, Inc. announced the closing of the acquisition, by merger, of Transaction Verification Systems, Inc. of Falls Church, Virginia.  TVS, now in its twentieth year of operations, produces and markets transaction monitoring systems to retailers.  TVS is the leading provider of these products to the convenience store and quick service restaurant markets in North America.

The stock-based acquisition of TVS by Orion, valued in excess of $1,000,000, expands TVS’ marketing ability to all of the US retail market and, through Orion’s presence in Europe, to the European markets.  In addition, Orion provides technology and telecommunications capabilities to TVS for a greatly expanded product line.  TVS is meeting those objectives via their next-generation digital recording systems with remote access.

“As the leader in register interface technology, TVS now has the expanded presence in the world marketplace to grow very rapidly,” stated Robert Stocker, President of Orion’s TVS subsidiary.  “With Orion’s broad suite of telecommunications capabilities, we redefine the application of text inserters from being simply security devices to having the entire system become a full retail management tool.”

About Transaction Verification Systems, Inc.

Founded in 1981, TVS has developed and marketed register interface technology products to record retail point-of-sale transactions on in-store videotape and enable remote monitoring of such transactions over telephone lines.  The company’s hardware records register transactions in real time and its software provides a customizable management tool for analyzing employee and customer activities and other point-of-sale anomalies.

About Orion Technologies, Inc.

Orion is concentrating on Internet and telecommunications-based technologies and services for e-commerce and related business.  It is currently engaged in electronic point of sale terminal rentals and the electronic processing of debit and credit card transactions over such terminals in Europe.

Electronic point of sale processing is the technology used by retailers to facilitate payment by credit or debit cards, bank customer cards (ATM), and chip cards (cash cards) with POS terminals.  The use of these terminals, widely used by retailers in the United States and the United Kingdom, is growing very rapidly in Germany and other parts of Europe where Orion has operations.

The management of Orion is also pursuing related acquisitions.

Statements made in this press release that are not historical or current facts are “forward looking statements” made pursuant to the safe harbor provisions of federal securities laws.  Forward looking statements represent management’s best judgment as to what may occur in the future, but are subject to certain risks and uncertainties that could cause actual results and events to differ materially from those presently anticipated or projected.


Multos v.5

Philips Semiconductors announced that Australia’s Keycorp will port its ‘MULTOS Version 5′ OS to Philips’ ‘MIFARE PROX’ dual interface smart card controller range. In a related announcement, Keycorp also announced an alliance with Cubic Transportation Systems to deliver integrated payment solutions across Australia’s transit and financial services markets. ‘MULTOS .5’, combined with the ‘MIFARE PROX’ smart card controller range, supports both contactless and contact interface operations, allowing contactless transport ticketing applications, as well as existing contact banking solutions. Keycorp’s ‘MULTOS v.5’ operating software includes the ‘MULTOS v.4’ standard and adds optional features such as the provision of a contactless interface for transport applications; support for GSM SIM applications; and Elliptic Curve Cryptography for mobile commerce applications. The combined KeyCorp/Philips solution will be generally available early 2001. In the Keycorp/Cubic deal, the Sydney Integrated Ticketing System will link the region’s rail, bus and ferry services to a common contactless smart card. Similarly in Brisbane, an integrated ticketing initiative is in progress which would include smart card based ticketing for rail, bus and ferry operators, as well as extensions into regional parking facilities.


FTC Settlement

The FTC yesterday reached two settlements with defendants who used bulk e-mail, or spam, to claim they could help consumers get new credit histories by obtaining new identification numbers through a practice known as file segregation. One defendant will pay an $11,000 civil penalty. The settlements of the “Operation New ID – Bad IDea” sweep are with A. James Black, d/b/a AJB Publishing, and David Story d/b/a Network Publications.