For Immediate Release

October 29, 2003

EasyTel Fulfills E-Commerce Promise From Technology Roadmap
 

EasyTel announces a major step along the company’s Technology Roadmap, with the combination of its Virtual Merchant and GenieBank ATM products.

EasyTel announced today that it has taken a major step forward on the Technology Roadmap laid out by the company two years ago.  A key part of that roadmap called for company engineers and product designers to merge elements of modern telecommunications, electronic commerce and electronic banking into a unified product suite aimed at daily business tasks.  The company’s Virtual Merchant and GenieBank ATM products, together with the established Universal Office communications platform, have met that goal.

“We’ve done it, and we’ve done it right!” said Randall Skala, President of EasyTel.  “The merger of the Virtual Merchant and the GenieBank ATM card into the Universal Office means that now everyone can have the same access to electronic commerce that was previously reserved for big businesses.”

The Virtual Merchant uses the Universal Office platform to process customer orders for any sort of goods or services and the related credit card charges over a standard touch-tone telephone. Credit information is processed against EasyTel’s back-end payment processing systems, and the entire transaction record – including the purchaser’s original spoken request – is combined using industry leading computer-based recording technology and forwarded electronically wherever the service user requires.

The GenieBank ATM card provides the service user with the back-end cash access needed to withdraw and utilize the funds received through Virtual Merchant transactions.  GenieBank ATM cards are usable just like bank-issued ATM cards at ATM cash-dispensing locations and ATM capable POS terminals worldwide.

“Our subscribers now have an end-to-end solution that is not father away than their telephone,” Randall explained.  “There is no investment in equipment or complicated setup required.  Any one of our customers can use the system with only a standard touch-tone phone, from any place in the world.”