DESOTO, Texas, Feb. 1, 2005 (PRIMEZONE) -- eTelcharge.com (Pink Sheets:ETLC), a financial diversified merchant service company, which has developed the exclusive online currency to allow online shoppers an option to charge items to their phone bill, today announced that the new version of its exclusive pay option would be distributed through Interfund Financial merchants.
"We are excited about the added marketing strength gained through our alliance with Interfund Financial," said eTelcharge.com President and CEO Carl O. Sherman. "This agreement will initially make our products available to all Interfund Financial merchants that generate annual online sales of $1 million and upward via their website. We believe the new version of the telephone-billing system will provide a viable online payment alternative for many people who do not have credit cards, which according to the Wall Street Journal represent 70 million Americans."
"eTelcharge's unique payment option will make it possible for our merchants to increase their sales online, as well as, add a competitive advantage over merchants who only accept credit cards," stated Dale Allen President of Interfund Financial, a Fort Worth, Texas-based financial payment processing company.
The company has overhauled its online telephone billing payment option. The initial version of the new online currency, which allows online shoppers to charge their purchases to their phone bill has been retired and will be replaced by the modern version. The new version will showcase new back-end features requested by the existing customers; such as pre-approved automatic monthly billing for subscription type products, like magazines and other publications. A few merchant clients like Jeff Covington, co-owner of Fool Proof Foods, Inc. expressed some disappointment in not being able to provide his customers with the continued service temporarily. Mr. Covington responded, "I don't like it, but think it's worth the wait considering that our customers preferred the phone billing option over all other forms of payments, including credit cards."
About eTelcharge.com
eTelcharge.com (ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure of banks along with the proprietary new online currency that provides online shoppers the exclusive choice to charge items to their telephone bill. Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge items sold over the Internet. This payment option is a perfect match for the 70 million Americans who do not own a credit card. eTelcharge.com is currently the only company with the ability to charge a category of products to the home phone bill. Clearly, past electronic commerce solutions have not employed effective security and privacy techniques that adequately address consumer concerns about privacy and security on the Internet today. The release of the latest version of the proprietary phone billing option is scheduled to be launched first quarter 2005. For more information, go to http://www.eTelcharge.com
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause eTelcharge.com, Inc. and actual results or outcomes to be materially different from those anticipated and discussed herein. These include its historical lack of profitability, the need for additional capital, end-use customers' acceptance of new products and actual demand, which may differ significantly from expectance of new products and actual demand, which may differ significantly from expectations, the need for eTelcharge.com, Inc. to manage its growth, and other risks associated.