MISSION, KS, Jan. 31, 2001 (PRIMEZONE) -- Nescrow Technologies, Inc. has announced that it has entered into a service and application development consulting agreement for payment systems with U.S. Central Credit Union. Nescrow will be responsible to provide technical and consulting services for U.S. Central's Web-based ACH payment systems, APEX -ACH (Automated Payment Exchange).
Nescrow CEO and Chairman William Rodgers said, "Our technical support staff was recruited to help facilitate product development in the Web-based payments area. This agreement with U.S. Central is the first step to provide services for an outside company that will utilize our expertise in this arena." Rodgers added, "It is very exciting to move forward as our continued product development will enhance our current product offerings and launch exciting new products in the Web-based payment and on-line cash management services industry."
About Nescrow Technologies, Inc.
Nescrow has developed Net Transaction Protocol (NTP). The NTP(tm) process is designed to counter fraud, create security and streamline consumer-to-consumer, business-to-consumer and business-to-business sales in the Web environment.
NTP(tm) provides for the purchase, pickup, delivery and return of any size, type or price of merchandise via SelfShip(tm) (the shipping component of NTP(tm)); provides a mechanism for payment; and is the first system to automatically escrow both the buyers funds and the sellers goods until the sale is completed to the satisfaction of both. Additional NTP(tm) components will be launched in the near future.
About U.S. Central
U.S. Central Credit Union, based in Overland Park, Kan., is the nations only wholesale corporate credit union and has assets of more than $20 billion. It is owned by 34 member corporate credit unions. Together, U.S. Central's member/owners provide investment, credit and payment services to approximately 10,000 credit unions nationwide, serving approximately 76 million consumer members.
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CONTACT: Nescrow Technologies, Inc.
Brian Chisam
(913) 403-0313
bchisam@nescrow.com