HIMC Investment Enhances Merchant Processing Options.Business Editors & Technology Writers TACOMA, Wash.--(BUSINESS WIRE)--April 29, 2004 HIMC Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :HMCO HMCO Houghton Mifflin Company HMCO heavily mud cut oil HMCO Hospitality Management and Catering Operations HMCO Hospitality Management Company (India) ), under its wholly-owned subsidiary, ITI (Information Technology Industry Council, Washington, DC, www.itic.org) Formerly the Computer and Business Equipment Manufacturers Association (CBEMA), founded in 1916. ITI is a membership organization composed of approximately 30 large high-tech companies. Internet Services, Inc., has announced its investment in Fast Transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting , Inc., a privately-owned company in Olympia, Washington Olympia is the capital of the U.S. state of Washington. It was incorporated on January 28, 1859. As of the 2000 census, it had a population of 42,514. Olympia is the county seat of Thurston County and a major cultural center of the Puget Sound region. . The partnership was forged in an effort to capitalize upon the respective strengths of both organizations in the area of online and retail payments. ITI Internet Services, Inc., the owner of the award winning PayByCheck(TM) product, is known for its suite of secure and reliable electronic payment solutions for Internet merchants. Fast Transact's VeloCT(TM) Gateway and MerchantPoint(TM) credit card acceptance program carry an equally credible reputation in the industry for managing credit card transactions. After a six year history of professional collaboration, the principals of both companies have agreed to formally merge their online payment services, affording them both with a broader service offering of electronic payment solutions for existing and future merchant clientele. "Like ITI, Fast Transact's core focus is streamlining and improving the business of Internet transactions," stated Ron Ehli, Chief Strategist for ITI Internet Services, Inc. "This common focus and our shared commitment to customer service are what supported our decision to invest." "Fast Transact is a leading expert in online credit card transactions, and ITI is a renowned electronic check expert," said David Solomon, Fast Transact's 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. and Chairman of the Board. "This relationship means merchants get a simpler solution for all their non-cash electronic transactions, regardless of which company they do business with." Under the agreement, the Fast Transact MerchantPoint(TM) credit card acceptance program and ITI's PayByCheck(TM) online check-processing service will be integrated into one seamless service. Both companies will offer the integrated service, but through their respective Internet gateways (1) See cable/DSL gateway. (2) A router or server that converts IP packets to IPX, AppleTalk or some other non-IP format and vice versa. It is used to connect non-IP networks to the Internet. . The companies will also benefit from enhanced reporting and fraud prevention services made possible through the investment. Solomon continued, "Fast Transact will also benefit greatly from the inevitable increase in credit card processing volume we will gain through ITI's vast and long-standing customer base. It puts us on the map as a major player in the credit card processing industry and strategically aligns us with ITI, another esteemed electronic payment provider." "Being successful in this industry is about providing the most comprehensive and efficient payment model possible," added Ehli. "We believe this unique combination of efforts raises the bar a couple of notches for the competition." About HIMC Corporation HIMC Corporation, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , ITI Internet Services, Inc., offers a wide variety of payment, verification, and authentication systems including the award-winning PayByCheck service. For more information, visit our corporate website at www.itinternet.net. About Fast Transact, Inc. Founded in 1996 and privately owned and operated, Fast Transact, Inc. is a registered ISO/MSP (Merchant Service Provider) of J.P. Morgan Chase Bank. The company provides integrated electronic payment technologies for accepting, authorizing, securing, and processing credit card, check, and gift card payments for retail and Internet merchants nationwide. For more information, visit www.fasttransact.com. 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. made in this release are made pursuant to the "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. " provision of the Private Securities Reform Act of 1995. Forward-looking statements made by HIMC Corporation are not a guarantee of future performance. |
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