Accesspoint Announces Certification for Level Three Purchase Card Transactions.IRVINE, Calif.--(BUSINESS WIRE)--Oct. 4, 1999-- Today Accesspoint Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ASAP (chat) asap - As soon as possible. ) ("Accesspoint"), a manufacturer of turnkey Internet based electronic commerce solutions, announced that the certification phase of its Level III Purchase Card project has been completed. Accesspoint is now certified to transmit Level III Purchase Card transactions over the National Data Corporation ("NDC NDC National Drug Code NDC NATO Defense College NDC National Documentation Centre (National Hellenic Research Foundation, Athens, Greece) NDC National Dairy Council NDC National Democratic Congress ") processing network. NDC, a leading credit card processor with an estimated 800 billion transactions handled, was the first processor to be certified for Level III purchase card transactions with all three major credit cards, Visa, MasterCard, and American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. . This Level III purchase card certification permits Accesspoint to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the growing number of businesses who are turning to web-based electronic purchasing systems that provide the same detailed line-item information contained on traditional paper purchase orders and invoices. Level III purchase orders also save businesses money by eliminating the need for check posting, reconciliation, and handling. In addition, Level III purchase cards allow vendors to receive immediate payment and qualify for the lowest possible interchange rates by meeting card association requirements for collecting enhanced data. "Level III certification paves the way for Accesspoint's customers to have access to previously untapped markets," said Tom Djokovich, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Accesspoint. "This is an important step towards our goal of making Merchant Manager and Transaction Manager two of the premier business-to-business e-commerce solutions. This will have a positive impact on our merchants because it will give them the ability to position themselves as suppliers to government agencies and larger businesses who require more transaction detail and security in their Internet-based purchases," added Djokovich. "Having a strong partner in Accesspoint for Internet business to business transactions is important to us," said Pete Hamel Ham´el v. t. 1. Same as Hamble. , vice president and general manager of National Data Corporation. "It is our belief that e-commerce will soon represent the largest environment for business to business purchases," added Hamel. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a recent article in Credit Card Management magazine, Visa (USA) estimates that commercial e-commerce worldwide will grow to $1.1 trillion by the year 2003. Industry estimates also project the business-to-business credit card volume to eventually exceed that of the consumer market. Accesspoint's comprehensive systems provide turnkey electronic services to small and midsize businesses by expediting the processing of credit cards in a more timely and cost-effective manner. The company's strategy is to provide bundled, feature rich, completely web-based e-commerce solutions at reasonable prices to allow businesses to take advantage of profit opportunities using the Internet. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Accesspoint Corporation to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the company's Annual Reports and other filings with the Securities and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. Accesspoint Corporation will remain dependent upon future financing for its growth and development, and for it to successfully implement its business plan. No statement contained herein should be construed as indicating that such financing is or will be available, and if available, will be on terms favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to Accesspoint Corporation. This news release speaks as of the date first set forth above and Accesspoint Corporation assumes no responsibility to update the information included herein for events occurring after the date hereof. |
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