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To: TLindt who wrote (15132)	5/16/2000 10:41:00 AM
From: tktom	of 20296

CKFR should consider working with these guys... Tuesday May 16, 9:34 am Eastern Time Company Press Release SOURCE: ValiCert, Inc. ValiCert Debuts Secure B2B e-Transaction Solution New B2B Express Ensures Validity, Security and Proof Throughout The e-Transaction Life Cycle Net Market Makers Conference, BOSTON, May 16 /PRNewswire/ -- ValiCert, Inc., a leading provider of end-to-end secure infrastructure solutions for e-Transactions, today announced B2B Express(TM), a complete e-Transaction security infrastructure solution that B2B marketplaces, their participants and financial institutions can use to achieve validity, security and proof throughout the e-Transaction life cycle. B2B Express is designed to allow organizations to more safely and easily engage in e-Transactions while lowering the overall cost associated with fraud, dispute resolution and paper-based processes. ValiCert B2B Express can be deployed rapidly to provide the security and trust B2B environments demand. The new e-Payments component, also announced today, is designed to work with leading payment systems, such as those from CyberSource (Nasdaq: CYBS - news), IBM (NYSE: IBM - news) and Trintech. ValiCert B2B Express supports leading digital certificates, including those from Baltimore Technologies (Nasdaq: BALT; London: BLM), Entrust Technologies (Nasdaq: ENTU - news) and IBM, and is designed to enable B2B marketplaces to easily expand their network of available participants. The new Transaction Event Confirmations (TECs) feature provides proof of all e-Transactions and is designed to help lower costs by reducing fraud and aiding in dispute resolution. ``With B2B Express, ValiCert has achieved a one-stop solution for demanding B2B environments needing to ensure validity, security and proof through all phases of the transaction life cycle,'' said Yosi Amram, president and CEO of ValiCert. ``The completeness and convenience of B2B Express, and its interoperability and scalability provide B2B participants with a powerful new solution for achieving trust and proof in their e-Transactions.'' ``To create secure B2B transactions, companies must leverage a variety of new software infrastructure services, including digital certificates, validation, payment and secure audit trails,'' said Jamie Lewis, CEO and Research Chair for The Burton Group. ``With B2B Express, ValiCert has integrated these functions, creating a solution for managing B2B transactions from end-to-end that will speed deployment and ensure secure implementations.'' ValiCert's new B2B Express solution also received support from a number of leading CAs (certificate authorities), customers and leading industry service providers: ``ValiCert's B2B e-Transaction solution opens the door to widespread use of B2B marketplaces for all kinds of online trading applications,'' said Andrew Morbitzer, vice president of marketing at Baltimore Technologies. ``They have recognized and addressed the way business is actually conducted, and have removed one of the stumbling blocks that have inhibited more widespread deployment of e-Transactions.'' ``ValiCert has given B2B marketplace operators a comprehensive solution for addressing the integrity and provability of their customers' e-Transactions without the constraint of specifying that they use any particular brand of digital credential,'' said Tracy Wilk, vice president of product management for CyberSource. ``By opening these e-Transactions to certificate authorities, ValiCert has taken an important step in advancing B2B e-commerce.'' ``ValiCert's real-world approach to e-Transactions will be helpful to B2B marketplaces and others engaging in e-commerce by ensuring a broad network of participants,'' said Nigel Johnson, vice-president, B2B strategic market unit at Entrust Technologies. ``ValiCert's commitment to CA neutrality and interoperability mirrors our own efforts which support open standards and industry-wide interoperability.'' ``As we extend our existing relationship with ValiCert to include this new e-Transaction capability, we expect our financial services customers to benefit from e-business solutions with increased trust and integrity for high-value B2B transactions,'' said Mark Greene, vice president of strategy, IBM Global Financial Services Sector.`` ``Universal certificate validation is key to ensuring integrity and trust for all e-Transactions, and is especially critical in the high-value world of B2B e-commerce,'' said Scott Jolly, director product marketing, iPlanet E-Commerce Solutions, a Sun-Netscape Alliance. ``ValiCert has done a great job of creating a neutral infrastructure that promotes openness while securing B2B e-Transactions.'' ValiCert B2B Express ValiCert's B2B Express is a secure e-Transaction infrastructure solution that B2B marketplaces, their participants and financial institutions can use to achieve validity, security and proof throughout the e-Transaction life cycle. B2B Express enables transaction notarization, archival, auditing, and dispute resolution by introducing Transaction Event Confirmations (TECs). TECs are tamper-proof, time-stamped, digitally signed confirmation and proof of major events in the B2B transaction life cycle. By utilizing TECs and the other components of ValiCert's secure e-Transaction infrastructure, B2B Express supports the following stages of the B2B transaction life cycle: -- Member and Participant Management -- ValiCert's validation solutions provide certificate validity status for leading client or server applications using digital certificates over the Internet, and are designed to enable B2B marketplaces to reduce costs associated with fraud by ensuring that participants are authentic. ValiCert's relationships with the leading CAs, including Baltimore Technologies, Entegrity Solutions, Entrust Technologies, Microsoft and Netscape, enable ValiCert to offer a B2B solution that works with major CAs for interoperability among marketplaces and enterprises. -- Transaction Authorization -- ValiCert's Stateful Validation mechanism can be used by B2B marketplaces to authorize participants for particular transactions based upon context-specific and application-specific rules. B2B marketplaces can use participant information, such as credit worthiness or transaction history, to authorize the participant for marketplace entry or for different tiers of transactions. -- Secure Payments -- The ValiCert open payment solution combines flexibility with security by offering B2B marketplaces an open, multi-vendor and vendor-neutral system with TECs for payments. -- Transaction Fulfillment -- SecureTransport securely transmits purchase orders, invoices, bills of lading, letters of credit and other transactional documents within B2B marketplaces and between trading partners. TECs provide proof of transactions and transmissions. Availability and Pricing The ValiCert B2B e-Transaction solution is available now. Pricing information can be obtained by contacting ValiCert directly. About ValiCert ValiCert is a leading provider of secure e-Transaction infrastructure products and services for conducting business safely over the Internet. ValiCert's validation, security and proof offering provides enterprises and service providers with a certificate- and payment-neutral infrastructure for protecting the phases of the e-Transaction life cycle. ValiCert's products and services are available through its direct sales force, resellers and service providers. ValiCert has technology and marketing alliances with providers and users of security services and products. The company's customers include Global 2000 organizations in financial services, telecom, healthcare and government sectors. ValiCert is headquartered in Mountain View, California, and is available on the World Wide Web at www.valicert.com. NOTE: ValiCert, ValiCert B2B Express, ValiCert Digital Receipt Solutions, ValiCert Receipt Notary, ValiCert Receipt Vault, ValiCert Receipt Toolkit, ValiCert Receipt Service, Validation Authority and SecureTransport are trademarks of ValiCert, Inc. All other product and brand names are trademarks or registered trademarks of their respective owners. SOURCE: ValiCert, Inc.

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To: tktom who wrote (15133)	5/16/2000 3:30:00 PM
From: Rob C.	of 20296

Cheap money... 6 May 14:36 WASHINGTON (Dow Jones)--Electronic billing company Checkfree Holdings Corp. (CKFR) has said that its existing cash resources are sufficient to meet current working capital and capital investment requirements through June 30 and that it has discontinued negotiations with various vendors in establishing an additional lease line of credit. In a Form 10-Q filed Monday, Checkfree said it ended talks with vendors because of its $172.5 million issue of 6.5% convertible subordinated notes placed in November and the company's recent acquisition of a new working capital line of credit. The $30 million credit agreement, which matures on Dec. 30, 2002, was completed in January and carries an interest rate of London interbank offered rate plus 200 basis points or prime and contains certain financial and operating covenants. As of March 31, 2000, no amounts were outstanding. Checkfree Holdings shares recently traded at 47 7/8, up 2 5/16 or 5.1% on volume of 342,000 compared with average daily volume of 1.8 million. -Leticia Williams, Dow Jones Newswires/Federal Filings Business News; 202-628-9788; Leticia.Williams@dowjones.com (END) DOW JONES NEWS 05-16-00 02:36 PM Copyright 2000 Dow Jones & Company, Inc.

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To: Rob C. who wrote (15136)	5/16/2000 10:59:00 PM
From: tktom	of 20296

Bill Harris, CEO of Payment processor X.com, resigns (also, Ex CEO of Intuit)....Note last paragraph... May 16, 2000, 03:48 PM PST X.com CEO Gets the Boot A source says Bill Harris was asked to resign because of 'personality conflicts at the top.' Internet payment startup X.com lost its chief executive last week. Bill Harris, who had been CEO since last November, cleaned out his desk on Thursday. Founder Elon Musk will assume the role of CEO. "We were sharing the CEO role, and the board thought it made sense to have one hand on the steering wheel," says Musk. "They thought that should be me." Although Musk had a chairman title, he said he shared many of the responsibilities of CEO with Harris. Musk said he will maintain the CEO position for the time being. Harris said this afternoon that he's "used to running things," and stepping down to another position was not something he was interested in doing. He has no immediate career plans. According to a source familiar with the company who wished to remain anonymous, Harris was asked to step down amid internal politicking and personality conflicts. "From what I understand, there were personality conflicts at the top," the source says. "Some people threatened to leave if [Harris] didn't, and the board asked him to step down." Harris was previously the CEO of Intuit (INTU) , the maker of the Quicken financial-software family. When he left Intuit last September, Harris indicated that he no longer wanted to run such a large organization. Instead, he said he wanted to pursue a career at a startup. Musk hired Harris last November, assuming Harris' wealth of financial-services experience would be a perfect fit for X.com. It turned out that Harris wasn't such a perfect fit. X.com has undergone a major transformation since last November. When the company was founded last year by Musk, who also founded Zip2, with venture-capital financing from Sequoia Capital, X.com was being pitched as a personal financial-services portal, offering individuals access to brokerage, banking, investment and loan services. The ploy to get consumers to sign up was a person-to-person electronic-payments system, which quickly caught on with auction-goers online. X.com also launched a marketing campaign that included offers of $20 for new accounts and $5 extra for referrals. With no minimum balance required to open an account, the promotional deal helped bring in hundreds of thousands of new accounts. X.com was the first to market with a widely deployed personal-payments solution, a service that since has been adopted by many banks, credit-card companies and auction sites. In early March, X.com merged with its biggest competitor, a startup called PayPal, backed by Idealab Capital Partners. The move gave X.com an even greater foothold in the emerging market of person-to-person payments. Last month, the merged company raised $100 million, led by Madison Dearborn Partners in Chicago. The round included funding from existing shareholders of the two startups, in addition to a number of international investors. X.com currently has 1.8 million accounts. Musk says he is investing in international expansion, extending the service into mobile space and technology investments. All other Internet-based consumer banks, such as E-Trade Bank, WingspanBank and CompuBank, have in aggregate attracted less than one million accounts. X.com has not disclosed the amount of assets that those one million customers have deposited with it. X.com continues to attract 12,000 new accounts per day, but that rapid growth comes with a price. The company's payment system has suffered a number of outages during the past two days, as a result of a system upgrade.

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To: tktom who wrote (15137)	5/17/2000 1:51:00 AM
From: axp	of 20296

Ted Lewis, a monthly columnist in the very reputable IEEE Computer magazine wrote about X.com this month. The main point was that X.com is growing so fast because of "viral marketing". If someone owes you money and pays via x.com, you can get it as soon as you sign up - at no cost to you. The article also mentions CheckFree, not in a negative light, as a company growing in a traditional way. The column doesn't appear to be available on-line without a subscription so I can't post a link. X.com has obviously found a overlooked vein in this crowded field. It will be interesting to see how they manage the scaling and reliability that CheckFree claims are among it's core strengths. And when things do go wrong, how good are they at straightening them out. Without very reliable systems, are they immune to fraudulent claims of lost payments?

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To: axp who wrote (15138)	5/17/2000 7:33:00 AM
From: noiserider	of 20296

X.com, PayPal and marketing costs I view PayPal as a "toy" payment system - great for image purposes, but not viable in the long term for either the consumer or X.com. X.com makes money as a bank, not a payment processor. They make their money based on assets. It's no wonder they don't publish the average assets per user. Most account holders sign up for the free give-away or the payment service and then leave. As for PayPal it's a great free service for the consumer with no competition at the moment. For X.com, however, they still have to pay 2-3% to process the transaction through the credit card network for their "viral marketing". This may be a cheap way to attract account holders, but only if they deposit funds and stay. It'll be interesting to see what happens to PayPal when CKFR/BofA introduces PayAnyone. BillPoint, the eBay, Wells Fargo auction payment system is identical to PayPal and charges around 4% of the purchase price to the seller to cover processing costs. IMHO these credit card payment vehicles will fade when CKFR introduces their debit PayAnyone system.

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To: noiserider who wrote (15139)	5/17/2000 8:40:00 AM
From: Harp	of 20296

Paytrust and Netpliance Align to Launch Instant Bill Delivery and Payment on i-opener One-Click Access Combined with Paytrust Bill Management Will Mean Simplicity for Consumers Using i-opener Internet Appliance Service AUSTIN, Texas and PRINCETON, N.J.--(BUSINESS WIRE)--May 17, 2000-- Netpliance, Inc. (Nasdaq:NPLI - news), an innovative Internet appliance services company, and Paytrust©, the leading Internet service allowing consumers to receive, review, pay, and organize bills online, today announced an arrangement whereby Netpliance and Paytrust will deliver an easy and convenient way for i-opener users to receive and pay bills online. By clicking on the Bill Paying instant service, i-opener customers will be able to check the status of their bills offline and pay them without having to wait for a computer to boot up or connecting to the Internet. The integrated service will be available later this year. ``We have received such positive feedback from our instant channels such as weather and news that we decided to introduce an instant service,'' said Kent Savage, President and CEO, Netpliance. ``Paytrust's secure bill management service combined with i-opener instant access will reduce getting and paying bills to one simple step, making a consumer's life easier.'' Using the i-opener automatic update feature, new bills will be brought down and stored automatically on the i-opener when it updates every few hours, so there is no waiting when an i-opener customer wants to view and pay bills. As i-opener users sign up for the Paytrust service, this partnership will result in a new service revenue stream for Netpliance, and bring Paytrust access to a new, untapped market of consumers. ``We are excited about Netpliance's vision to simplify the Internet for everyone,'' said Edward G. McLaughlin, CEO of Paytrust. ``We are focused on bringing consumers the most convenient way to receive, view, and pay their bills and through our relationship with Netpliance, we will reach a new segment of the population that yearns for this simplicity.'' About Paytrust Through Paytrust's proprietary technology, subscribers can receive and pay 100 percent of their bills online or using a wireless device. Paytrust subscribers receive bill notifications and reminders via email rather than physical mail, and they can review their bill information from anywhere they have access to the Internet. Paytrust can issue payments directly from any check writing account designated by a customer, provide information that enables a customer to balance their checkbook and provide data that a customer can download into their personal financial management software. Paytrust is the flagship service of PAYTRU$T, Inc., a privately held company based in Princeton, New Jersey. Founded in October 1998, the company is financially backed by investors including American Express, AT&T Ventures, Citigroup, GE Equity, Goldman Sachs, NextCard, SOFTBANK Venture Capital, Spectrum Equity Investors and Thomas Weisel Partners. More information on the company can be found on its Web site located at paytrust.com or by calling 800/PAYTRUST. About Netpliance Netpliance offers Internet-based content, applications and services through devices specifically designed for Internet access, commonly known as Internet appliances. The Company introduced its current i-opener(TM) service in November 1999, which combines its i-opener appliance, Internet access and its own consumer portal. The i-opener service includes all of the elements required for a user to access the Internet and simplifies Internet access, delivering a truly simplified Internet experience for consumers. More information on Netpliance can be found on its Web site located at netpliance.com. Netpliance Forward-looking Statements This announcement contains forward-looking statements that are subject to significant risks and uncertainties. Although Netpliance believes that the expectations reflected in its forward looking statements are reasonable, Netpliance can give no assurance that such expectations or any of their forward looking statements will prove to be correct, and future results may differ from those discussed in this press release. Important cautionary statements and risk factors that could cause actual results to differ materially from those reflected in Netpliance's forward looking statements are disclosed under the headings ``Forward-Looking Statements'' and ``Risk Factors'' in Netpliance's Prospectus dated March 17, 2000 which is contained in Netpliance's Registration Statement on Form S-1, copies of which may be obtained from Netpliance. Netpliance a disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future event, change in expectations, conditions or circumstances, or otherwise. biz.yahoo.com

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