Fundtech Ltd., a leading provider of e-payments and Internet banking solutions, announced Wednesday that Telebank, the nation’s leading and largest pure-play Internet bank, has selected Fundtech’s e-payment product, FEDplu$, as part of its funds transfer platform. This solution will streamline Telebank’s electronic payment process, automating the flow from point of origination, to the bank and on to the Federal Reserve Bank.

“We selected FEDplu$ because the automated application is a great way for Telebank to continue reducing our consistently low operating costs so we can pass even greater savings back to our customers,” stated Mitchell H. Caplan, President and CEO of Telebank. “The functionality, ease of use, security and scalability of the FEDplu$ technology provides Telebank with a strong platform that supports our consistent and aggressive growth as a leader in the Internet banking sector.”

Currently used by approximately 150 banks, FEDplu$ is North America’s most widely used client/server based funds transfer system. FEDplu$ is a mission critical application which features an intuitive user interface, superior throughput performance, automated compliance with Treasury regulations, platform and database independence and full Internet functionality.

“Banks like Telebank are built on innovation and creativity. Telebank’s selection of FEDplu$ reflects Fundtech’s leadership in e-payments technology,” said Reuven Ben-Menachem, Fundtech’s Chairman and CEO. “We believe that our Internet-enabled e-payments solution is a logical choice to help Telebank maintain and extend its leadership in the provision of Internet banking services.”

About Telebank

Telebank is the nation’s leading and largest pure-play Internet bank and the first pure-play Internet bank in the U.S. to surpass the industry milestone of $2 billion in customer deposits. Telebank is the only pure-play Internet bank to be ranked among the top 40 federally chartered U.S. savings banks based on both assets and deposits.

Pending shareholder and regulatory approval, Telebank is positioned to become part of the first pure-play e-commerce company in the financial services sector – combining banking and brokerage services – through a definitive merger agreement with E*TRADE, a global leader in online investing.

Telebank is a wholly owned subsidiary of Telebanc Financial Corporation (NASDAQ: TBFC), providing high value financial products and services to customers in all 50 states through low-cost electronic delivery platforms, including the Internet, telephone, facsimile and ATM focusing increasingly on the Internet. Telebank has been ranked number-one by bankrate.com in their nationwide annual checking survey and has been selected one of the top fifty fastest growing Internet companies by Worth magazine. At September 30, 1999, Telebank had nearly $4.0 billion in assets, more than more than $2.0 billion in deposits and 100,000 customer accounts. Telebank can be accessed at [www.telebank.com][1] or 1-800-TELEBANK.

About Fundtech

Fundtech is a leading provider of software solutions that facilitate e-commerce and e-banking by enabling businesses and their banks to electronically manage cash, process payments and transfer funds. The Company’s client/server and Internet software products automate the process of transferring funds among corporations, banks and clearance systems and enable businesses to manage global cash positions efficiently and in real-time. Its solutions have been sold to more than 650 financial institutions around the globe.

[1]: http://www.telebank.com/



bCard.net, a subsidiary of PrimeHoldings.com, Inc. Wednesday announced an agreement with NewLeads Inc., a leading provider of trade show lead systems and services that help companies improve the quality and timeliness of their trade show leads. The agreement gives NewLeads the rights to read and integrate the bCard technology in their products and services.

NewLeads, a powerful lead qualification and distribution system, will now be compatible with bCard technology. Under the agreement, NewLeads will include the bCard smart card reader in each of its shrink-wrapped software packages. NewLeads is currently used at major trade shows across North America by leading trade show exhibitors such as IBM, AMP, Motorola, Symantec and UUNet.

“NewLeads was designed for exhibitors who rely on trade shows to generate sales leads,” said John Hasbrouck, president of NewLeads. “Using smart card technology, bCard brings an extremely reliable technology to the trade show market for lead retrieval systems,” he said.

According to Hasbrouck, the use of the bCard reader and NewLeads software enables attendee information to be gathered quickly and with perfect accuracy. The leads are immediately available to be processed by the exhibitor or by NewLeads, which improves the exhibitor’s odds of closing a sale. With bCard and the bCardPoints reward system, NewLeads is adding value to customers who are looking for better ways to reward their prospects. Now they not only have the best lead system, but also a way to reward the attendee with something more meaningful than a free pen or notepad.

“Adding NewLeads as a bCard business partner is a milestone for bCard.net,” said Ivan Lazarev, president, bCard.net. “The acceptance of bCards by the NewsLeads system greatly expands the number of trade show exhibitors that will accept bCards and use bCardPoints.”

With over 170,000 bCards distributed, bCard.net has established itself as one of America’s leaders in the emerging smart card industry — estimated by market research firm Frost & Sullivan to be a $5 billion worldwide market by 2003.

About NewLeads Inc.

NewLeads Inc. is a leading provider of exhibitor owned lead systems. NewLeads provides software, hardware, training and consulting, and leads processing for the largest exhibitors in North America. NewLeads is a member of the International Association of Exhibit Managers (IAEM) and the Trade Show Exhibitors Association (TSEA). The company is headquartered at 605 W. Olympic Blvd., Suite 780, Los Angeles, California 90015 and can be reached by phone at (213) 624-5314, by email at info@newleads.com or at its web address, [http://www.newleads.com][1].

About bCard.net, Inc.

bCard.net, a subsidiary of PrimeHoldings.com, is the developer of a revolutionary Internet-based business-to-business Loyalty Information Network. bCards are universal electronic business cards, based on proprietary “smart cards: used to store, transfer and other wise manage information about business professionals. bCards can store large amounts of digital information that can be easily shared and stored to facilitate communication between business professionals and commerce between business entities. bCard.net’s global electronic business card technology will create a new Internet-based communications environment for business-to-business transactions and become a leading global business-to-business communications portal. bCard.net is proving to be an essential Internet portal for the dissemination of information and for conducting e-commerce activities related to the bCardPoints(TM) affinity program.

About PrimeHoldings.com, Inc.

PrimeHoldings.com, Inc. (formerly Prime Source Communications Holdings, Inc.), OTC Bulletin Board: PRIM, is a holding company for high-growth electronic commerce (e-commerce) businesses. PrimeHoldings.com has built a sophisticated infrastructure of technology that is utilized by each of its subsidiaries to provide better service, reduce costs, and provide greater manageability during periods of extreme growth. This allows its portfolio companies to run more efficiently and profitably. PrimeHoldings.com is intent on acquiring and managing a diverse portfolio of e-commerce businesses that will yield an outstanding return on shareholder investment. Current PrimeHoldings.com companies include: bCard.net, a leader in smart card technologies; Navilor, a leader in electronic data collection, management and distribution; and GolfAgent USA, the leading online tee-time reservation system. For more information call 801-562-1444 or visit [http://www.primeholdings.com][2].

[1]: http://www.newleads.com/
[2]: http://www.primeholdings.com/


Net.B@nk VISA

Internet bank, Net.B@nk, and First USA signed agreements Wednesday to offer a cobranded version of First USA’s ‘e.card Platinum VISA’. Applications for the new card will be available online at Net.B@nk’s web site. The card program offers online 60-second approvals and online access to account transaction history. The ‘Net.B@nk-branded Platinum VISA’ offers a 5% rebate on purchases made at participating e-vendors. The bank also offers a ‘VISA Check Card’. NetB@nk has over $1 billion in assets and customers in all 50 States and 20 foreign countries making it the largest FDIC-insured bank operating solely on the Internet.



GE Card Services is taking its private label cardholders online. Yesterday GE Capital announced it has selected MA-based edocs, a provider of Internet billing software, to deliver online billing capabilities to its 300 private label credit card corporate clients. GE Card Services’ private label credit card customers represent more than 100 million accounts worldwide. Tuesday’s announcement means that cardholders will soon have the option of receiving and paying their credit card bills online. GE Capital also announced it has taken an equity position in the e-billing firm. edocs’ flagship product, ‘BillDirect’, is a comprehensive, off-the-shelf software application that enables billers to deliver personalized, interactive bills through the biller’s own web site or through Internet billing service providers. In mid-Sept., American Express announced it made a minority investment in edocs and also licensed the ‘BillDirect’ software. During Oct., First National Bank of Omaha joined up with CyberCash and edocs to launch an Internet Bill Payment and Presentment unit to issue the first electronic wallet for processing electronic checks.


First Data UK Milestone

FDR Limited, First Data Corp.’s U.K. transaction processing subsidiary, has reached a key milestone with the addition of its one millionth smart card on file.

Since 1997, when nationwide smart card trials were held in the U.K., FDRL has upgraded core processing systems and key interfaces to deliver high volume smart card-capable processing services for more than eight clients. FDRL estimates that it will process up to ten million smart cards by the end of 2000.

In the U.S., First Data Resources is focused on several strategic smart card initiatives. To date, the leader in transaction card processing has issued more than 600,000 chip cards on behalf of seven clients. By the end of the first quarter of 2000, First Data anticipates being certified to load, initialize and personalize Visa(R) and MasterCard(R) smart card products.

“First Data is dedicated to meeting the smart card needs of our clients into the next millennium,” said Ann Kennedy, vice president and general manager for global smart card business development. “We plan to continue our development efforts and to make appropriate investments to ensure we can deliver an end-to-end smart card solution to clients.”

“This end-to-end solution will provide clients the flexibility of choosing from a variety of operating systems and applications that will best serve their long-term smart card goals,” Kennedy said.

First Data recently joined GlobalPlatform, the cross industry smart card group charged with advancing a standardized infrastructure for multiple application smart cards. In addition, Kennedy was recently named to the board of directors of The Smart Card Forum, a multi-industry organization working to accelerate the widespread acceptance and application of smart card technology.

First Data Resources processes transactions for more than 260 million card accounts around the world. Based in Omaha, Neb., First Data Resources is the leading global provider of card transaction processing and card portfolio management solutions that enable credit, debit, commercial, oil and private label card issuers to enhance their portfolio growth, increase market share, reduce risk and improve profitability.

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. For more information, please visit the company’s web site at [http://www.firstdatacorp.com][1].

[1]: http://www.firstdatacorp.com/



Hypercom unveiled this morning the industry’s first Internet enabled POS payment terminal and server system. Dubbed ‘ePOS-infocommerce’ or ‘ePic’, the Internet-based retail countertop commerce and information system enables merchants to support a range of Internet based functions via the ‘Hypercom ICE’ series touch screen terminals. Hypercom’s ‘ePic’ also enables merchants to set up centrally hosted web stores and operate them via the terminal. ‘ePic’ supports e-mail, on-screen advertising, interactive electronic coupons, interactive loyalty, electronic receipt capture, branding programs, and e-commerce . . . in addition to traditional secure payment processing functions. Hypercom says with ePic, the terminal essentially becomes a narrowcast consumer channel that accepts payments.


Linux-based Payment Platform

Valu-net Corporation launched its CPAC e-commerce platform for the LINUX operating system. With this announcement, Valu-net is among the first in North America to market a LINUX- based e-commerce platform capable of processing secure transactions in multiple currencies. Available immediately, CPAC for LINUX is a proven, reliable platform for facilitating online transactions between merchants and consumers on the Internet.

“With the launch of CPAC for LINUX, Valu-net continues to lead the market with state of the art solutions for online marketing and payment processing,” stated David Lucatch, president and CEO of Valu-net.

Extending CPAC’s functionality to support LINUX gives merchants the ability to build e-commerce capabilities into their Web pages hosted on LINUX- based Web servers. This means that merchants can now seamlessly integrate transaction-based, e-commerce applications within a flexible and low-cost operating system environment. Valu-net offers full technical support and strategic e-commerce consulting services to all merchants using LINUX as their development platform.

“The LINUX movement has been a powerful force of technological change in the choice of operating systems. With this change comes the need for new products and services to meet the demands of this community,” said Anthony Pearlman, Chief Information Officer of Valu-net Corporation. “Offering an e- commerce platform for LINUX gives online merchants the flexibility to choose their operating system without worrying about its ability to process transactions over the Internet in a safe and secure manner.”

In addition to the LINUX operating system, CPAC also supports multiple platforms for online credit card payment solutions including: Sun Microsystems’ Solaris OS, Red Hat’s OS, Microsoft Site Server and IBM’s Net Commerce application as well as a variety of other popular operating systems and applications.

About CPAC

CPAC is an Internet-based proprietary transaction system owned 100% by Valu-net. CPAC (Credit Payment Authorization Component) has been available in the North American marketplace since 1997. It is recognized as one of the premiere secure payment solutions for online retailers, providing real-time authorization, processing and settlement of online credit card transactions. CPAC is used in conjunction with third party credit card processing agencies, supports all major credit cards, multiple currencies, and is compatible with most major financial institutions and private credit card issuers.

About Valu-net

Founded in 1995, Valu-net develops online marketing and electronic commerce programs for selling products over the Internet. This expertise is used to directly create Internet business initiatives through Valu-net’s own divisions, joint ventures, and industry partnerships. In addition, Valu-net is able to offer merchants a complete range of business enabling services to meet the growing demand for secure and effective electronic commerce. These services are available to merchants directly through Valu-net or indirectly through agreements with agencies and resellers. Valu-net’s division, The eMerge Alliance ([www.emergealliance.org][1]) offers merchants easy entry into the electronic commerce market with a turnkey solution that is both scalable and cost-effective. Further information is available through Valu-net’s corporate web site at [www.vncorp.com][2].

[1]: http://www.emergealliance.org/
[2]: http://www.vncorp.com/


Chase Card Head

Chase Manhattan confirmed this morning that card industry veteran Richard Srednicki will join Chase in January as Cardmember Services Executive. He will succeed Michael Urkowitz, who will retire in February after more than 25 years with Chase. Srednicki currently serves as President of the Home Services Division of Sears, Roebuck. Prior to joining Sears in 1998, he was President and CEO of AT&T Universal Card Services from 1997 to 1998. Srednicki was a senior officer of Citibank from 1983 to 1996 where he spent 10 years in the credit card business. During his tenure at AT&T he helped sell the Universal Card portfolio to Citibank. Urkowitz built Chase’s transaction processing services business to a leadership position via a joint venture with First Data. During his tenure at Chase, credit card outstandings grew from $24 billion to $33 billion.


Mercantec & ClearCommerce

Mercantec Inc., leading provider of Internet commerce software products and services, announced a strategic partnership agreement with ClearCommerce of Austin, Texas. As a result of this partnership, the ClearCommerce Engine will be an integral component of Mercantec’s Merchant Connection, giving merchants an automated, easy way to process their e-commerce payment transactions.

“Small to medium-sized e-businesses will greatly benefit from ClearCommerce’s strategic partnership with Mercantec,” said Robert J. Lynch, CEO of Austin, Texas-based ClearCommerce. “The ClearCommerce Engine’s automated, back-end purchasing process will offer SoftCart merchants reliable, scalable transaction processing and ensure that their orders are processed quickly and accurately.”

Announced in early November, Merchant Connection is a value-added service for merchants who are using SoftCart(TM). The Web site provides merchants with unprecedented, immediate and comprehensive access to e-commerce resources, service offerings and add-on products to make their online business a success. Mercantec’s Payment Center, one of the e-commerce resources on the Web site, will use ClearCommerce’s transaction capabilities to automate the process for activating merchants.

“This partnership agreement is part of our ongoing effort to make SoftCart a comprehensive e-commerce solution,” said Andrew Parker, Mercantec president and CEO. “By incorporating ClearCommerce’s online payment processing into our services, we are offering merchants one more way to save time and money.”

ClearCommerce Engine provides a robust and flexible interface between merchants and the financial networks responsible for authorizing online transactions. The service will initially be used for domestic transactions and will be expanding internationally in the near future.

Mercantec SoftCart is the leading virtual storefront software delivered through ISPs and Web hosting providers. SoftCart has been endorsed by many of the world’s leading Internet commerce service providers (CSPs), including EarthLink, MindSpring, Interliant and Verio/Hiway, and is deployed by thousands of merchants. SoftCart 5.0 is a robust, easy-to-use electronic commerce solution that offers Internet service providers maximum performance and security, making it easier than ever for them to deliver and support the electronic commerce demands of their merchants.

About ClearCommerce

Austin, Texas-based ClearCommerce is a leading provider of e-commerce transaction software for nearly 10,000 merchants. ClearCommerce software features real-time credit card processing and robust Internet fraud protection, as well as online reports, back-end integration, storefront integration, shipping/tax calculation and delivery of digital merchandise. Online businesses and commerce service providers alike rely on ClearCommerce’s capacity to supply the essential transaction-processing component that is required for full automation of the online sale. With high-profile venture funding, a four-year track record, world-class customers and a growing international presence, ClearCommerce is realizing its vision to provide secure e-commerce transaction solutions to more online businesses than any other company in the world.

For more information about ClearCommerce, please visit [www.ClearCommerce.com][1].

About Mercantec, Inc.

Established in 1995, Mercantec, Inc. is a leading provider of software products and services that enable Internet commerce. Mercantec distributes complete e-commerce solutions through leveraged channels to small to medium sized businesses. Among those channels are service providers, financial organizations, and Internet content providers. Mercantec’s service provider channel is more than 165 strong and includes some of the industry’s leaders, such as Verio/Hiway Earthlink, MindSpring and Interliant. Among those in the financial channel are American Express and DataPro Software.

[1]: http://www.clearcommerce.com/


NextCard CD-ROM

NextCard is gearing up to deliver an interactive CD to new NextCard cardholders to provide an overview of the benefits and services of the NextCard Internet VISA, as well as a suite of free tools, software and resources for the active online consumer. A collaborative effort with Biz2Net, the NextCard Desktop CD is a connected gateway to NextCard’s e-commerce platform. The interactive CD introduces cardholders to the Internet VISA’s services and benefits, such as the ‘NextCard Concierge’, ‘GoShopping!’, and ‘Click Pay’. The CD also provides live links to over $500.00 in savings from leading online brands and includes a FREE digital video camera and secure 128-bit browser from Earthlink. Each issue of the ‘NextCard Desktop CD’ will feature new discounts and services exclusively for the active Internet consumer.


Paymentech Canada Expansion

Paymentech Canada, a unit of Paymentech, is launching credit card and electronic payment programs for major Canadian direct marketers that includes expanding Internet credit card processing. The new clients are BUY.COM, a leading Internet superstore offering a wide range of goods, and bamboo.com, a top Internet real estate service provider of 360-degree virtual home tours.

This recent business is projected to add approximately C$75 million in annual processing sales volume to Paymentech Canada’s portfolio. Paymentech currently processes electronic payments for over 120 Canadian direct marketers and e-tailors.

In addition to secured credit card transaction processing and settlement, Paymentech partners with top electronic commerce-enabling solution providers such as CyberSource to provide end-to-end payment services. Paymentech also utilizes proprietary email and on-line reporting and administration tools for Canadian merchants.

“Security and consumer convenience are critical to our Internet retailing operation,” said Jeff Damron, chief financial officer for BUY.COM. “For the launch of our Canadian market, we wanted to ensure an easy and efficient payment function was in place to make a favorable impression with new shoppers.”

“Ensuring safe and fast credit card transactions on the Internet involves a chain of partners that must work together,” said Chad Markle, director of business systems at bamboo.com. “Paymentech has significant relationships with all key e-commerce software providers as well as the necessary understanding of needed banking services.”

Based in Palo Alto, CA, bamboo.com is a leading provider of 360-degree virtual tours on the Internet. bamboo.com maintains key relationships with major real estate Web sites and multiple listing service (MLS) providers, including HomeStore.com, REALTOR.com, HomeSeekers.com, Microsoft HomeAdvisor, HOMES.com, CyberHomes.com, LoopNet, Moore Data SErvices and GTE. As a result of these alliances, bamboo Virtual Tours can currently be view on America Online (AOL), Yahoo!, Microsoft Network (MSN), Excite, Netscape Netcenter, GO Network/InfoSeek, NBC, The Wall Street Journal Interactive Edition and others. For more information about bamboo.com, visit [www.bamboo.com][1].

Paymentech ([www.paymentech.com][2]), founded in 1985, is a major provider of full-service electronic payment solutions and the top processor for direct marketing and Internet merchants such as cataloguers, telemarketers, and on-line service providers. Paymentech is the second largest processor of bankcard transactions.

[1]: http://www.bamboo.com
[2]: http://www.paymentech.com


Industrial Strength B2B

VISA is going after small- and mid-sized industrial suppliers to begin accepting e-commerce transactions. Yesterday VISA signed an agreement with the Thomas Regional Directory Company to lay the foundation for fully transactive business-to-business e-commerce in the industrial sector, which has been slow to adopt Internet solutions despite its growth potential. VISA projects this sector will produce nearly $16 billion in e-commerce sales by 2003. Under terms of Tuesday’s deal, VISA will add payment card acceptance to Thomas Regional’s Internet solution to automate and streamline the buying and selling process for virtually any type of small- to mid-sized business. Thomas Regional will market the program through its nationwide sales channel which serves an established network of over 12,000 industrial clients. VISA noted that accepting the ‘VISA Purchasing Card’ will open a host of new business opportunities for Thomas Regional advertisers, as more than 70% of Fortune 500 companies, the Federal Government, more than 30 state governments, and colleges and universities use purchasing cards.