CyberCash Payment Business Remains Strong.RESTON, Va.--(BUSINESS WIRE)--August 5, 1999-- CyberCash Founder and Chief Executive Officer Bill Melton Confident in Strong Future of Company In response to investor inquiries regarding a decline in the Company's stock price over the past several days, CyberCash, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CYCH) said today that it knew of no reason related to its business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets that would warrant the decline. 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. the Company, it continues to make good progress with the business strategy it established earlier this year, and it sees no reason to depart from it. Bill Melton, chairman and 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. , reiterated his belief that CyberCash has built a solid foundation, supported by strong partnerships and strategic acquisitions, that will allow the Company 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 e-commerce market. "CyberCash's payment business remains strong," Melton mel·ton n. A heavy woolen cloth used chiefly for making overcoats and hunting jackets. [After Melton Mowbray, an urban district of central England.] said. "At the beginning of the year, we stated that our primary 1999 goal for this business was to increase our merchant base. We have made excellent progress toward that goal. We have created strategic distribution partnerships with Compaq, Concentric Coming from the center, or circles within circles. For example, tracks on a hard disk are concentric. Tracks on optical media are concentric or spiral shaped (in a coil) depending on the type. , Earthlink, INTERSHOP and Microsoft. We have expanded our technology offerings by developing CashRegisterOnDemand and acquiring Tellan Software. By doing so, we can now provide our customer base with a broader range of solutions to help accelerate and simplify e-commerce. We expect to be announcing similar initiatives over the next few weeks. As a result of these moves and increased emphasis on sales and marketing, CyberCash has increased the number of merchants using the CashRegister service to approximately 14,000, nearly 50% more than at year-end," he added. CyberCash has also been building partnerships to expand its Agile Wallet platform by adding new services designed to assist merchants in growing their businesses. The Company has recently announced relationships with Commission Junction Commission Junction is an online advertising company owned by ValueClick. They are specifically in the affiliate marketing industry. Commission Junction is the largest affiliate network in north America, powering almost 50% of the top 500 web retailers affiliate marketing , NetGravity, and FreeMac.com. CyberCash is also continuing to add functionality to its Agile Wallet, including the ECML-compliant Form Wizard. "By combining these marketing services and distribution vehicles with the simplicity of the Agile Wallet's InstaBuy service, CyberCash extends the value of the platform by enhancing the ability of Internet merchants to increase their sales," said James J. Condon, president and COO, CyberCash. About CyberCash, Inc. CyberCash is the world leader in secure, convenient payment technologies and services, enabling e-commerce across the entire market spectrum from electronic retailing environments to the Internet. CyberCash provides a complete line of software products and services allowing merchants, billers, financial institutions and consumers to conduct secure transactions using the broadest array of popular payment forms. Credit, debit, purchase cards, cash, checks, smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. and alternative payment types (e.g., "frequent buyer" or loyalty programs) are all supported by CyberCash payment solutions. Leading brands of CyberCash include InstaBuy(TM), AgileWallet(TM), ICVERIFY(R), PCVERIFY(TM), CashRegister, NetVERIFY(TM), CyberCoin(R), PayNow(TM). Leading brands of its subsidiary, Tellan Software, Inc., include WebAuthorize(TM), PCAuthorize(R) and MacAuthorize(R). This press release contains statements that are forward looking. They are based on the Company's current expectations, and are subject to a number of uncertainties and risks. The Company's actual results may differ materially. The uncertainties and risks include the pace of growth of Internet commerce, the development by the Company and its competitors of new products and services, the integration of Tellan Software, Inc. into CyberCash's business, the integration by CyberCash of its different product and service offerings, strategic decisions by major participants in the industry, competitive pricing pressures, legal and regulatory developments and general economic conditions. Further information about these and other relevant risks and uncertainties may be found in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and its other filings with the Securities and Exchange Commission, all of which are available from the Commission and from the Company's worldwide web site http://www.cybercash.com, as well as other sources. |
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