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BW: eConnect enters Strategic Alliance to Launch eConnect's Instant Cash Trading Account System

Feb 28, 2000, 14:12 (0 Talkback[s])

"eConnect (OTCBB:ECNC), through its subsidiary of eConnect2Trade.com Inc., has entered into a strategic alliance with Empire Financial Group Inc. (http://www.empirenow.com), to offer Internet stock brokerage firms and their clients the Instant Cash Trading Account (TM) system that utilizes an ATM card with PIN."

"eConnect2Trade.com, via eConnect, will distribute free eCashPad+ units to the Internet clients of Empire Financial Group, which will enable the clients to use the Instant Cash Trading Account system. The simple swipe of an ATM card through the eCashPad+ securely sends the transaction directly to the host processing center and prevents bank card data storage at Web sites."

"The eCashPad+ simply attaches to a consumer's PC keyboard. It will enable clients to effect instant cash transactions with an ATM card with PIN. These triple encrypted transactions are real-time instant cash transactions, as opposed to virtual transactions. The transactions are routed from the user's PC to a regional ATM card bank system for approval via an eConnect/RGTecq Linux Transaction Server. Upon approval, the funds are instantly deducted from the client's bank account and credited to the client's stock brokerage account."

"eConnect2Trade.com will charge a flat fee per Instant Cash Trading Account transaction."

Complete story.