To: Prosperous Soul (173 ) |
From: Prosperous Soul Wednesday, Jun 17 1998 12:12PM ET
Reply # of 2300
Estimated $100 Billion Cash Pay-Per-Play Global Wagering Market to Be
Opened by Betting Inc.
Routing First-Time, International Pay-Per-Play $100 Smart Card Global Mobile Satellite Phone Cash Wager From London to Australian Gaming Operator
LAS VEGAS--(BUSINESS WIRE)--June 17, 1998-- Agreement struck to demonstrate first real time GSM (Global System for Mobiles) cash pay-per-play smart card international wagering from England to Australia.
Newcom Technologies of Australia, and Electronic Transactions and Technologies and Betting Inc. (OTC/BB:BETT), of the United States, have negotiated an agreement to demonstrate a secure pay-per-play wager with a GSM phone, calling from England to place a $100 card- authenticated bet in Australia.
At the Mobile Commerce '98 Conference held in London on June 23 and 24, ET&T and Betting Inc., using the Newcom Platform, will pass a GSM SMS (short message service) message to the ET&T bank host server detailing a $100 smart-card bet.
The ET&T server will then pass the message and payment-complete command to Betting Inc., which will use the Internet to carry the encrypted SMS message to the waiting gaming operator in Australia. The operator in turn will acknowledge placement of such wager to Betting Inc. which will inform ET&T. ET&T will then command a nearby fax machine to print a receipt.
The phone being used will emulate the Pocket Pay which ET&T will be developing and which will act as a pocket-sized terminal for financial cards of any type such as ATM cards or smart cards, and may also be used as a regular voice phone.
''The agreement brings a complete package to potential gaming partners of ET&T and Betting Inc. in various countries. It uses either ET&T's patented Pocket Pay equipment or a commerce-enabled mobile phone,'' said Tom Hughes, chief executive officer of ET&T and Betting Inc.
''The Newcom phone solution which interfaces with gaming operators through ET&T and Betting Inc. demonstrates the deliverability of a product that is market ready today,'' stated Keith Benson, CEO of Newcom.
Newcom Technologies Pty. Ltd. has developed an open platform for use on any Phase 2+ GSM mobile telephone to allow secure electronic commerce and card-service functionality. Newcom's Web site is located at newcom.com.au.
Betting Inc. is focused on interfacing between bank host processing centers receiving such electronic cash payments and the gaming operators. ET&T is a developer of new types of terminals to originate such transactions and is focused as the bank host processing center to process such transactions. The company's Web site is located at www.hpos.com.
Carnegie Cooke & Company Inc.
Anita Goldberg, 800/262-2331