Interactive Technologies.com Acquires iTransact.com, Internet E-Commerce Payment Gateway Company.Business Editors/High-Tech Writers DELRAY BEACH Delray Beach, resort city (1990 pop. 47,181), Palm Beach co., SE Fla., on the Atlantic coast; settled 1895, inc. 1911. Mostly residential, Delray Beach is also the trade center for a citrus-fruit and vegetable-growing region. , Fla.--(BUSINESS WIRE)--Sept. 20, 2000 Interactive Technologies.com Ltd. (Pink Sheets:INTR INTR Interior intr Intransitive (verb type) INTR Intruder INTR Intermittent INTR Intrude INTR Interrupt Request ) today announced the acquisition of iTransact.com, Inc., an Internet Payment Gateway company that processes Visa/MasterCard and non-bankcard transactions via the Internet as part of INTR's plan to be a complete Internet e-commerce solution to merchants nationwide. INTR acquired iTransact.com for approximately 3,000,000 shares unregistered restricted shares of INTR common stock in a merger with a wholly owned INTR subsidiary. iTransact.com, Inc. is a three-year-old company, based in Utah, that markets its Internet Payment Gateway through resellers nationwide. Currently, the company has more than 3,000 merchants using its secure Internet Payment Gateway, which is required to perform real-time transactions over the Internet. iTransact.com generates continuing revenues from its gateway and monthly residual revenues. "This acquisition is key to our plan to be a one-stop solution for our merchants," said William Becker William Becker can refer to:
An Internet gateway is essential in offering complete "end to end" solutions to any merchant selling their products via the Internet, without the difficulties of contracting through various companies to achieve the same service. Furthermore, due to the recent information announced by the Card Associations, that outlined the terms for all-future Internet transactions being transported via a payment Gateway, INTR sees this as a tremendous ground floor opportunity to capture the market share of businesses INTR has access to through its client agreements. According to Becker, INTR plans on introducing the iTransact.com Internet Payment Gateway through JoinUsOnline, another INTR company, in October of this year. JoinUsOnline will be featuring the Payment gateway to the database of 1.5 million merchants throughout the U.S. to which JoinUsOnline has access through its client portal Agreements. About Interactive Technologies.com, LTD. About Interactive Technologies.com, LTD Interactive Technologies.com, LTD. ("INTR") owns a variety of synergistic subsidiaries that complement each other. United Interactive Technologies, Inc. ("UIT UIT Union Internationale des Télécommunications UIT Unit Investment Trust UIT Ultraviolet Imaging Telescope UIT União Internacional das Telecomunicações (Portugal) UIT University of Information Technology Net.World"), is a development and hosting company that creates software and hosts all of the INTR subsidiaries products and services. Web Classified.net ("WCI WCI Western Climate Initiative WCI Wright Center of Innovation WCI Whale Conservation Institute WCI Waterloo Collegiate Institute WCI Warren Correctional Institution (Warren, OH) WCI Warrior Concepts International "), is a provider of auto-generated high-technology Web sites in an Internet yellow page-like format. Integrated Merchant Services ("IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. ") provides merchants the ability to accept credit cards, debit cards, smart cards and check transactions through the Internet. IMS specializes in issuing E-commerce merchant accounts. Express Financial Corporation ("EFC EFC Expected Family Contribution EFC Expect(ed) Further Clearance EFC Evangelical Fellowship of Canada EFC Evangelical Free Church EFC Eastfield College EFC Everton Football Club EFC Electronic Fee Collection "), an online mortgage company that represents more than 70 direct lenders offering all types of both residential and commercial financing. GKB GKB Geospatial-Intelligence Knowledge Base GKB Girls Kick Butt GKB Gangsta Killa Bloods (gang) GKB Grosskrotzenburg (German city) GKB Greg Kihn Band (rock group) Software/FattyDaddy.com ("FattyDaddy.com")is developed and hosts an Industry Specific Food Portal, incorporating a variety of products and services related to the food industry, one being Takeout and Delivery on-line. JoinUsOnline.com, Inc., formerly Ubuy.com, Ltd ("JUOL") is a ten year-old online membership benefit and service company that offers over 30 different money-saving online benefits and services to consumers, businesses, employees, fund raising organizations and large associations and their members. Through the agreements it has with its various member organizations, JUOL has access to over 29,000,000 households and 1,500,000 businesses. For additional information, please visit the company's investor Relations Investor relations The process by which the corporation communicates with its investors. Web Site at http://www.intrinfo.com. This release contains forward-looking statements which are based on current information available to management and which are subject to other important factors disclosed, including specifically, among other factors, changing market and economic conditions. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion