Acies Launches
'Contactless' Card Payment Technology
NEW YORK - (BUSINESS WIRE) - October 11, 2005 - Acies
Corporation (OTC BB: ACIE), a financial services company
specializing in payment processing and online banking services
to small, medium and large size merchants across the United
States, today announced that, through several of its key
strategic partnerships, it has introduced a new 'contactless'
card payment solution that provides consumers with a simpler way
to pay.
Using this technology, consumers simply tap or wave their
contactless-enabled credit or debit card on a specially equipped
merchant terminal that eliminates the need to swipe the card
through a reader. In addition, the card never leaves the
consumer's hand. The new solution is ideal for traditional
cash-only environments where speed is essential, such as quick
serve and casual restaurants, gas stations and movie theaters.
Acies expects that all major bank card issuers will be
distributing cards equipped with this technology to millions of
cardholders nationally by year-end. Credit and debit cards
equipped with this technology can also be used in the
traditional way.
"Consumers and buyers are demanding speed and convenience, and
we believe this breakthrough 'contactless' technology will drive
an entirely new generation of electronic payments worldwide,"
noted Oleg Firer, CEO of Acies. "With a growing trend toward
further automation and speed for consumers making payments at a
retail store, restaurant, or movie theater, we believe
'contactless' technology represents an exciting new market for
us, and will be well received by our customers. Additionally,
being amongst the first payment processing providers to enable
its merchants to accept this technology represents an even
greater opportunity to obtain the 'first to market' advantage."
About Acies Corporation
Acies Corporation (OTCBB: ACIE) is a financial services company
that, through its wholly owned subsidiary, Acies, Inc.,
specializes in providing payment processing and online banking
services to small, medium, and large-size merchants across the
United States. Acies' payment processing services enable
merchants to process Credit, Debit, Electronic Benefit Transfer
(EBT), Check Conversion, and Gift & Loyalty transactions. Acies
also offers traditional and next-generation point-of-sale (POS)
terminals, which enable merchants to utilize Acies' payment
processing services. Acies' banking services offer customers
traditional banking services and the ability for customers to
apply for an on-line bank account and pay bills electronically.
For more information, visit http://www.aciesinc.com.
Forward-looking Statements
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: This press release contains or may contain
forward-looking statements such as statements regarding the
Company's growth and profitability, growth strategy, liquidity
and access to public markets, operating expense reduction, and
trends in the industry in which the Company operates. The
forward-looking statements contained in this press release are
also subject to other risks and uncertainties, including those
more fully described in the Company's filings with the
Securities and Exchange Commission. The Company assumes no
obligation to update these forward-looking statements to reflect
actual results, changes in risks, uncertainties or assumptions
underlying or affecting such statements, or for prospective
events that may have a retroactive effect.
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