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<br />~ About eComrect <br /> <br />\,.UIJY VI YUUf 1..1~IL \..dru CI::J ct UClII::,ct(..L1UIl 1t:l.UJU. <br /> <br />The higher incidences of charge-backs and online theft force credit card <br />processing companies to charge a higher percentage rate per transaction to <br />online merchants. These costs are often passed on to the consumer through <br />higher prices. <br /> <br />eConnect's Payment Solution <br /> <br />eConnect has developed the eCashPad and a new transaction route for online <br />financial card transactions to address the above problems online merchants <br />and consumers are experiencing. The eConnect hardware and transaction <br />route will allow consumers to swipe their cards as they would at a brick and <br />mortar store. This means that they will physically need to have their card <br />present to participate in a transaction. The swiped information will travel to <br />the payment gateway for processing and authorization. The merchant <br />accepting the eConnect transactionwllLreceive the approval code and <br />shipping information. The merchant will not receive any financial card <br />information, that information is only seen by the consumer's bank <br />eliminating the possibility of hacking, eConnect calls this type of transaction <br />Bank Eyes Only"". The swiped card will also make fraud and charge-backs <br />more difficult because one can not claim that someone stole their credit card <br />information. <br /> <br />The eCashPad and the Bank Eyes Only"" transaction route will greatly reduce <br />online fraud and card processing rates for merchants and consumers. It will <br />serve as a secure and financially beneficial alternative for everyone sending <br />and receiving money over the Internet. <br /> <br />You can presently purchase the eCashPad for $59.95 though the eConnect <br />website or online store. The eCashPad is now being used succeSSfully <br />worldwide by a limited number of consumers at our eConnect store. You can <br />visit our online store by clickino here. <br /> <br /> <br />Key Benefits to the Merchant utilizing the Bank Eyes Only"" System: <br /> <br />1. Increased sales <br />2. New customers <br />3. Reduced charge-backs - fewer disputed transactions <br />4. Lower discount rates from merchant acquiring bank (due to card <br />present transactions - same as retail stores) <br />5. No longer a risk of hackers stealing customers' critical financial data <br />6. Substantially reduces the potential of fraud <br />7. Accepts multiple payment options; credit cards, PIN entered debit <br />cards, ATM with PIN cards, and Smart Cards. <br /> <br />http://www.econnectholdings.comlabout_uslaboutus.htmI <br /> <br />Page 2 of 4 <br /> <br />4/30/2002 <br />