MENTOR, Ohio, Oct. 27, 2003 (PRIMEZONE) -- CardinalCommerce Corporation, a worldwide leader in online payment authentication services, announced it has secured a $1.5 million credit line with Park View Federal Savings Bank, Solon, Ohio.
"Having a solid financial foundation is an essential component for Cardinal's future success. We are excited to be approved by Park View Federal Savings Bank," said Michael Keresman, III, President and CEO of CardinalCommerce. "Park View Federal is an ideal partner to help finance our future growth prospects as we prepare for an upturn in the online payment authentication market. The credit line will provide more comfort to our Investors, Partners and most importantly our Customers. We have an extraordinary opportunity to capitalize on the credit and debit card industry changes that are being led by MasterCard and Visa."
"Both payment brands expect that eventually 100% of all card-not-present or signature-less transactions will require some other form of authentication in the near future. This means there are well over 3,000,000 merchants and over 25,000 issuing banks that could benefit from our software platforms. We like the view of the future and are poised to take advantage of MasterCard and Visa's fraud eliminating initiatives," Keresman stated.
"CardinalCommerce is a welcome addition to our portfolio of clients and represents one of the many firms we're pleased to support in Northeast Ohio," said John R. Male, Chairman and Chief Executive Officer of Park View Federal Savings Bank.
About Park View Federal Savings Bank
Established in 1920, Park View Federal Savings Bank is a federally chartered capital stock savings bank headquartered in Solon, Ohio. Park View Federal has 15 full-service branch offices located throughout Greater Cleveland. The bank's principal business consists of attracting deposits from the general public through its branch offices and investing these funds in loans secured by first mortgages on real estate located in its market area. The bank offers flexible lending programs and a full range of savings products and related services. Park View attributes its success to its niche as a real estate lender, its personal approach to service, supportive staff, and a strong commitment to community. A publicly traded stock company, Park View remains committed to the local community and is consistently listed as one of the top 100 Ohio public companies. Park View is proud to offer "Better service from a better bank." For more information, visit www.parkviewfederal.com
About CardinalCommerce Corporation
CardinalCommerce Corporation is a leading provider of a technology-neutral authentication platform for securing electronic and wireless commerce, thus ensuring that individuals, businesses and government agencies can process electronic transactions and access confidential information safely, securely and privately. Cardinal's proprietary technology provides consumers, merchants, credit/debit card issuers, and processors the ability to conduct fully authenticated Internet-based e-commerce, while protecting the transactions from fraud. CardinalCommerce is based in Cleveland, Ohio, and has partners throughout the United States, Europe, Africa, the Middle East and India. For more information, visit www.cardinalcommerce.com.
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