1st eTech Unveils Secured Smart Card Payment Services That Protect Against Internet Fraud; Innovative Smart Card Options Will Allow Consumers to Select Three Levels of Secure Payment.Business Editors/High-Tech Writers COMDEX The former, premier computer trade show in the U.S. Although it grew into an end user event, it was originally created for dealers and distributors (it was the COMputer Dealers EXposition). Fall 2000 Booth L4842 Booth L5746 LAS VEGAS--(BUSINESS WIRE)--Nov. 13, 2000 1st eTech, Farmington, Utah Farmington is a city in Davis County, Utah, United States. The population was 12,081 at the 2000 census.and by 2004 had been estimated to increase to 13,882. It is the county seat of Davis CountyGR6. Lagoon Amusement Park is located in Farmington. , a provider of smart card and secure Internet services, today unveiled innovative smart card payment services that protect consumers and merchants alike from Internet payment and product fraud. These services include payment options that allow consumers to secure delivery of products before payment is released to the merchant. 1st eTech's Secure Payment Services were previewed beginning today in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. at the COMDEX 2000 trade show. The 1st eTech exhibit is in booth L4842. Following the COMDEX technology demonstration, 1st eTech will implement a field trial in the Las Vegas, Nevada area in 2001. 1st eTech's Secure Payment Services protect both merchants and consumers from fraud over the Internet by combining smart card technology with multiple delivery options. When a consumer makes a purchase using 1st eTech's Secure Payment Services, their Mondex electronic cash is transferred from their smart card into escrow, and held until the merchant has either shipped, delivered or ultimately inspected the product, depending on the level of secure payment selected. This assures merchant payment, increases consumer confidence and builds merchant volume. "Internet payment and product fraud is estimated to reach $60 billion in losses by 2005. 1st eTech is tackling this issue head on with smart card payment services that are as secure as purchasing a product from a brick-and-mortar store," said Jim Biorge, founder and president of 1st eTech. "No one would ever pay for a product in a store, then walk out without the product in hand. Our service allows Internet consumers to receive products before payment is released to merchants." Utilizing Hitachi's Internet Solution for Mondex (ISM See ISM band. ) and 1st eTech's secured payment services, developed with Emerald Solutions, 1st eTech will be able to assure purchasers that their payment will not be released to the vendor until the delivery company confirms shipment or delivery of the merchandise. Hitachi's ISM product is a software solution package for Mondex electronic money system on the Internet. Ultimately, this end to end solution can require that the purchaser confirm, utilizing a smart card, acceptance of the merchandise before the payment is released. 1st eTech's smart card applications will utilize the MULTOS MULTOS Multimedia Office Server platform and will include Mondex electronic cash. Hitachi's software and hardware securely manages Mondex electronic cash for sales in both `brick and mortar' stores and over the Internet. Mondex's electronic cash provides a secure means of exchanging electronic currency. For Internet purchases, 1st eTech's Smart Card Secure Payment Services integrates information from the original purchase with data from the Merchant after the product is shipped as well as with data from the delivery company in order to determine when the payment to the Internet merchant is released. In addition, 1st eTech provides a Merchant Value System for participating merchants, and promotion agencies. The Merchant Value System manages the promotional and transaction fees to provide incentives for all participants including discounts for consumers, new advertising revenue for promoters, merchant revenue for distributing cards, and continuing revenue for financial and card institutions. About Hitachi Hitachi America, Ltd., a subsidiary of Hitachi, Ltd.(NYSE NYSE See: New York Stock Exchange :HIT), markets and manufactures a broad range of electronics, computer systems and products, consumer electronics and semiconductors, and provides industrial equipment and services throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . For further information, please go to www.hitachi.com. The Hitachi exhibit is in booth L5746. About Mondex Mondex International Limited (MXI MXI - Multisystem eXtention Interface Bus ), a subsidiary of MasterCard INTERNATIONAL, is a world leader in the provision of a global, multi-channel, electronic payment system for the real and virtual worlds and is headquartered in London. Mondex electronic cash is a cost-effective, secure, and immediate payment tool, which can be used across open networks such as telephony or the Internet. Mondex(TM) and the MULTOS(TM) operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. were the first commercial products ever to be awarded ITSEC See NCSC. Level E6 (Information Technology Security Evaluation Criteria), the highest ITSEC security rating level available. For further information please go to www.mondexinternational.com. About Emerald Solutions Emerald Solutions is an e-business services company that designs and builds Internet-based business solutions by integrating digital business strategy with both emerging and existing information technologies. Emerald's client base includes AT&T, Lucent, Boeing, Priceline.com, Warner-Lambert/Parke-Davis, Pfizer, Flowerbud.com, Consolidated Freightways Consolidated Freight was the 3rd biggest trucking company in the US. In the 1930s they started their own truck manufacturing operation, Freightliner, now part of DaimlerChrysler. , Lucy.com, Emery Worldwide Emery Worldwide was a cargo airline, once was one of the leading carriers in the cargo airline world. Emery started in 1946 and was the first freight forwarder to receive a carrier certificate from the United States Government. , Benjamin Moore This article is about the American bishop. For the British biochemist, see Benjamin Moore (biochemist). Benjamin Moore (1748 – 1816) was the second bishop of the Episcopal Diocese of New York. , and Hawaiian Airlines. Emerald is a U.S.-based company with offices in 13 locations. For more information, visit Emerald Solutions at www.emeraldsolutions.com. About 1st eTech 1st eTech is a privately held smart card developer and integrator, founded in 1999 for the purpose of employing smart card technology on the Internet and in the physical world. 1st eTech leads the e-commerce industry with the introduction of the first automated two-way security technology for smart cards. One of the outstanding features of 1st eTech's security technology is that both the cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold and merchant are protected from fraudulent transactions. For more information, please go to www.1stetech.com.
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