MISSION, Kan., May 8, 2001 (PRIMEZONE) -- Nescrow Technologies, Inc. today announced that it had reached a letter of intent with Pilot Air Freight, a transportation and logistics company, to provide order entry integration with credit card and electronic check payments for Internet shipments through www.Pilotair.com.
Nescrow will use its order entry integration technology to enable non-regular or infrequent Pilot Air Freight customers the ability to use Pilots Air's services without the need to establish an account with a carrier. Pilot Air Freight customers will be able to enter shipping information and pay electronically in an easy-to-use, online process.
In addition to the payment solution, Nescrow has agreed to place Pilot onto its shipping Website, www.SelfShip.com. SelfShip(tm) is the shipping component of the Web's first fully integrated, online buying and selling system, PayNShip. SelfShip(tm) allows consumers and businesses to initiate shipments and choose a preferred carrier from a single site. Both services should be available by July.
"We are thrilled at our partnership with Pilot Air Freight," said Nescrow CEO Bill Rodgers. "Both companies bring value to one another. Our electronic payment solutions will help drive shipping customers to use the Pilot Air Website, while their logistics and heavyweight transportation solutions give SelfShip a key component to continue to develop into the most extensive shipping site on the Web."
Pilot Air Senior Vice-president Gene Malcolm added: "The partnership between Nescrow and Pilot Air Freight is a win-win situation. Nescrow will enable Pilot the ability to reach new markets and customers. Pilot in-turn will enhance Nescrow's product(s) through experienced logistics and transportation solutions. Ultimately it will be the shippers and consignee's who are the big winners. The security advantages of Nescrow combined with the simplicity of Pilot logistics will help to lower the cost of purchasing and fulfillment."
About Pilot Air
Pilot Air Freight is a full service transportation and logistics company with 98 offices throughout the United States and Canada, and a worldwide network of overseas agents, offering global coverage 24 hours a day, 7 days a week. As a transportation and logistics expert, Pilot Air equips clients with everything they need to move cargo -- delivering shipments by air, land or sea anywhere in the world.
Pilot Air Frieght offers customized logistics solutions for just-in-time delivery -- like Merge and Deliver(tm) service and Inbound Logistics Service(tm) -- to control inbound product flow.
About Nescrow Technologies
Nescrow Technologies, Inc. has created NTP(tm) (Net Transaction Protocol), the e-business solution that provides an exclusive, electronically integrated purchasing and fulfillment process for the buyers and sellers of merchandise online.
The NTP(tm) process is designed to counter transaction fraud, create security, and streamline consumer-to-consumer, business-to-consumer and business-to-business sales in the Web environment. Internet Fraud Watch stated that 87% of fraud on the Internet is contained on auction sites. Nescrow expects to launch its buying and selling fraud protection product called PayNShip in the very near future.
NTP(tm) provides for the purchase, pickup, delivery and return of any size, type or price of merchandise via SelfShip(tm). NTP(tm) also provides a mechanism for payment; and is the first system to automatically escrow both the buyer's funds and the seller's goods until the sale is completed to the satisfaction of both.
Nescrow is also a provider of consulting, programming and integrated platforms for Web-based cash management and payment systems for financial institutions.
Rodgers founded Nescrow Technologies Inc. to integrate and automate the elements necessary for efficient and secure e-commerce transactions online. The NTP(tm) business process has a patent pending. For additional information, see www.nescrow.com.
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CONTACT: Nescrow Technologies, Inc.
Brian Chisam
913-403-1605
bchisam@nescrow.com