Tuesday May 16, 7:00 am Eastern Time
Company Press Release
Raiffeisen Zentralbank Selects Trintech Technology to Power Secure ePayment Subsidiaries in Central and Eastern Europe
SAN MATEO, Calif.--(BUSINESS WIRE)--May 16, 2000--Trintech Group (Nasdaq: TTPA; Neuer Markt: TTP), a leading provider of secure electronic payment infrastructure solutions, today announced that Raiffeisen Zentralbank Osterreich (RZB-Austria), one of Austria's leading banks, is implementing PayWare eCMS (Card Management System), Trintech's secure card issuing and payment solution. The agreement enables RZB's subsidiaries in up to nine countries in Central and Eastern Europe to issue payment cards and acquire transactions in the physical world and the Internet.
The initial rollout will be for RZB's primary operating subsidiaries in Central Europe - Tatra Banka in Slovakia and Raiffeisen Bank Polska in Poland. PayWare eCMS offers features that support end-to-end payment processing for RZB's subsidiary banks, as well as the SET(TM) and SSL Internet security protocols. Trintech's card management solution provides speed, flexibility and security along all steps of the process, from the issuing of a card through transaction acquisition and settlement.
PayWare eCMS is comprised of two major modules. PayWare eIssuer Card Manager enables card issuers to set up and easily manage feature-rich programs for cards issued in physical world or the Internet. PayWare eAcquirer Merchant Manager is a merchant account handling and settlement solution that allows acquirers to fully manage their merchant acquiring services including account set-up and settlement of funds.
Tatra Banka is using PayWare eAcquirer Merchant Manager to manage its merchant account handling and settlement of all card-based payments originating from real world and Internet transactions. The RZB subsidiaries are also using PayWare eIssuer Card Manager to authorize, distribute and manage payment cards, which will expand their brand presence in the physical and virtual worlds.
``Our strong presence in emerging markets requires that we have a secure and extensible electronic payment solution,'' says Chris Davis, EVP Consumer Banking International at Raiffeisen Zentralbank Osterreich. ``We are committed to being at the forefront of e-commerce and taking full advantage of the opportunities in this industry.''
``RZB has positioned itself at the leading edge of the banking community in Eastern Europe by implementing an advanced electronic payment solution for the physical world and the Web,'' said John Harte, EVP of Global Sales, Marketing and Services at Trintech. ``With robust security and efficient transaction processing provided by Trintech products, RZB can take advantage of these exciting new opportunities in these emerging markets. Trintech technology allows Raiffeisen to embrace electronic payments and e-commerce with the flexibility, speed and security necessary in the current business environment.''
About PayWare eCMS
Multi-card and brand support - Issue a single card or several brands at the same time. Each card can be set up with its own unique set of processing parameters.
Multi-Issuer - Organize all card issuing as a single business unit or across several business units. Each issuing unit can be set up with its own set of unique business rules.
Multi-Currency Support - Each card in the system can be settled in the local currency or in the local and reference currency. Payment to merchants can be made either in the local or international currency.
Multi-language Support - PayWare eCMS can be configured to display a multi-language user interface without core process changes.
Scalable Solution - Using a relational database with standardized structures together with the ability to expand base systems infrastructure as required, allows institutions to grow their card system as their processing and business needs grow.
Open Architecture - PayWare eCMS will run on any combination of standard hardware, operating system and database management system.
Flexible Modular Architecture - PayWare eCMS is made up of multiple modules that can be configured to meet the exact requirements of an institution's card management system.
End to end payment processing - The product integrates seamlessly with Trintech secure ePayment gateway products and virtual card issuing solution, Trintech provides an integrated suite of solutions providing the infrastructure to your card processing requirements.
About Raiffeisen Zentralbank Osterreich
Raiffeisen Zentralbank Osterreich (RZB) is the leading East-West bank and operates the densest banking network of any western bank in Central and Eastern Europe. Companies active on the international level can benefit from RZB services ranging from market analysis, financing and global account management to global credit facilities, risk management and electronic banking - services that support their market activities. RZB also focuses on the promising ``emerging markets'' of the Far East. RZB can be reached on the Web at www.rzb.at.
Trintech Group PLC is a leading provider of secure electronic payment infrastructure solutions for real world, Internet and wireless transactions. The company, which was founded in 1987, offers a complete range of payment software products for credit, debit, commercial and procurement card applications. Trintech's secure product range is deployed in over 35 countries worldwide and cover the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations. Trintech's range of scalable, open systems architecture solutions for UNIX® and Windows NT(TM) platforms covers consumer, merchant and financial institution requirements for all card-based payments, including e-commerce and the emerging world of mobile commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94003 (Tel: 650-227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at www.trintech.com. Investor information can be found at www.trintech.com/investor.
This press release may contain ``forward looking statements'' within The meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any ``forward looking statements'' in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Factors that could cause or contribute to such differences include the ability to develop, market and sell its e-commerce software, the market acceptance of the SSL or SET standards for e-commerce payment transactions, its ability to effectively respond to future changes in the e-payment software market and, in particular, the market acceptance by card issuers of PayWare eIssuer. Actual performance may also be affected by other factors more fully discussed in Trintech's Form F-1and Form 6-K for the quarter ended January 31, 2000, filed with the US. Securities and Exchange Commission.