P.T. Barnum also said something about suckers, too... Cheers, Bob Hettinga ----------------- First Data, First USA Paymentech, GE Capital Invest in First Virtual Holdings Wednesday 96.09.18 - San Diego, CA USA - First Virtual Holdings, Inc., developer of Internet transaction systems, announced today that First Data Corp. and First USA Paymentech, Inc., two of the nation's largest credit card processing companies, and GE Capital have invested a total of $12.5 million in First Virtual Holdings, Inc. "This strategic alliance reinforces our belief that electronic commerce is coming of age on the Internet," said Lee Stein, chairman and chief executive officer of First Virtual. "It creates a powerful new combination between First Virtual, with its proven on-line transaction system, and leading credit card acquiring and processing companies. This represents a tremendous vote of confidence in our system by three industry leaders." In addition, the companies are discussing joint marketing agreements based on the concept of giving more than 200 million card holders automatic buying power on the Internet using the secure VirtualPIN(TM) identifier from First Virtual. "We expect that this partnership will enable First Virtual to significantly broaden its global marketing," Stein said. "Our secure e-mail based system is proven, easy to use and doesn't require specialized technologies. The VirtualPIN(TM) serves as the only identifier an individual needs for conducting business in cyberspace. It enables sellers and buyers on the Internet to link securely to any currency, payment system or standard verification system. With First Data, First USA Paymentech and GE Capital as partners, we anticipate more rapid acceptance of the Internet as an important distribution channel for businesses of all sizes." Stein said First Virtual created its VirtualPIN and Internet payment system to be part of a more complex transactional e-mail system for future marketing, customer service, communications and transaction applications. "The VirtualPIN provides the single identifier that can tie together all parts of the marketing and distribution chain: initial information, outbound offer, purchase order, confirmation, credit verification, transaction settlement and fulfilment of the order," said Stein. "The VirtualPIN serves as a convenient and secure alias for an individual's identity, including e- mail address and personal, demographic, shipping and financial information. This gives new power and privacy to the individual and puts him or her at the center of the electronic marketing universe." Stein said Pamela Patsley, chief executive officer of First USA Paymentech, Inc., and John McKinley, chief technology officer of GE Capital, have been elected to the First Virtual board of directors. ----------------- Robert Hettinga (rah@shipwright.com) e$, 44 Farquhar Street, Boston, MA 02131 USA "'Bart Bucks' are not legal tender." -- Punishment, 100 times on a chalkboard, for Bart Simpson The e$ Home Page: http://www.vmeng.com/rah/