Press Release - March 15, 2005
Authorize.Net Announces Completion of Secure Virtual Point of Sale (VPOS) Beta
2005 ETA Annual Meeting & Expo, LAS VEGAS, NV, March 16, 2005 — Authorize.Net Corporation, a service of Lightbridge, Inc., (Nasdaq: LTBG), today announced that it has completed an initial beta release of its new Virtual Point of Sale (VPOS) product. VPOS is designed to provide a secure, easy-to-implement, easy-to-use solution for "brick and mortar" retail merchants using the Authorize.Net Payment Gateway.
To use VPOS, retail merchants simply need an Authorize.Net Card Present (CP) account, a CP merchant account, a computer running Microsoft® Windows® with Internet Explorer 6 and a supported credit card reader by MagTek. Distributed as a private label solution through Authorize.Net's extensive network of reseller partners, VPOS will initially be offered through resellers capable of providing tier-one (first call) support.
Authorize.Net is committed to being the industry's leading payment gateway for all merchant Internet Protocol (IP) transaction processing needs," stated Roy Banks, Authorize.Net president. "Just as our Virtual Terminal allows e-commerce and mail or telephone order merchants to easily submit transactions manually via our Merchant Interface, VPOS allows merchants in retail locations to take advantage of the speed, reliability, and cost benefits of submitting credit card transactions via Authorize.Net's Internet Protocol Payment Gateway."
"We've had a lot of merchant demand for a virtual POS terminal," added Matt Ward-Steinman, Authorize.Net director of product management. "We are pleased to answer that demand by introducing a product that is both cost-effective and secure. For any retail merchant, the incremental costs for the MagTek reader are considerably less than the cost of a dedicated POS hardware terminal. Additionally, we have built a number of important security enhancements into the solution that uniquely positions VPOS apart from competing solutions that lack security features."
Authorize.Net will be demonstrating the VPOS solution in their booth (#810) at the Electronic Transactions Association (ETA) Annual Meeting and Expo, March 15-17 at the Mirage Hotel, Las Vegas.
About Authorize.Net® (www.authorize.net)
Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, retail, mail order/telephone order (MOTO) call centers and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers. Authorize.Net is a service of Lightbridge, Inc.
About Lightbridge® (www.lightbridge.com)
Lightbridge, Inc. (NASDAQ:LTBG - News) is a leading analytics, decisioning and e-commerce company that businesses trust to manage customer transactions. Lightbridge adds value to fraud screening, credit qualification, payment authorization, billing, and enhanced voice services. Lightbridge solutions leverage intelligent automated systems and human expertise, delivered primarily through the efficiencies and cost savings of an outsourced business model. Businesses around the world use Lightbridge to make smarter decisions, deliver better services, provide secure payments, reduce costs and enhance the lifetime value of their customers. For more information, visit www.lightbridge.com or call 800-LIGHTBR.
Contacts:
David Schwartz
Lynn Ricci
Authorize.Net Lightbridge, Inc.
425-586-6039
781-359-4854
lricci@lightbridge.com
AUTHORIZE.NET, LIGHTBRIDGE, and the Lightbridge logo are registered trademarks and VIRTUAL POINT OF SALE is a trademark of Lightbridge, Inc. All other marks are the property of their respective owners.
Forward-looking Statements
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's partnerships, products, commitments, services markets, growth prospects, successes and the cost-effectiveness and security of new products or services are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) dependence on a limited number of clients, (ii) the Company's revenue concentration in the wireless telecommunications business and the declining subscriber growth rate in that business, (iii) continuing rapid change in the telecommunications industry and payment processing industries, and other markets in which the Company does business that may affect both the Company and its clients, (iv) the impact of competitive products, services and pricing on both the Company and its products and services, (v) market acceptance of the Company's new or enhanced products, services and technologies, (vi) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions or attacks on Authorize.Net's payment system that may impair the operations of its payment system, changes or failures to comply with credit card association rules, governmental regulation and the application of existing laws to Authorize.Net's business and dependence on relationships with third party payment processors, and (vii) factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission including, without limitation, its 2004 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements.
Authorize.Net President, Roy Banks, Elected to Electronic Transactions Association (ETA) Board of Directors
2005 ETA Annual Meeting & Expo, LAS VEGAS, NV, March 15, 2005 — Authorize.Net Corporation, a service of Lightbridge, Inc., (Nasdaq: LTBG), today announced that its president, Roy Banks, has been elected to the Electronic Transactions Association (ETA) Board of Directors.
The ETA is an international trade association comprised of over 500 member companies from seven different countries that offer transaction processing products and services. The ETA's stated purpose is to "...influence, monitor and help shape the merchant acquiring industry by providing leadership through education, advocacy and the exchange of information" (http://www.electran.org/about/about_eta.asp).
Banks joined Authorize.Net in July 1999 as vice president of business development. He was promoted to vice president and general manager in January 2000 and to president in October 2004. Under his guidance and leadership, Authorize.Net's merchant portfolio has grown from 35,000 active merchants to over 113,000. He has also been instrumental in the overall revenue growth and increased profitability of the Authorize.Net business. Prior to joining Authorize.Net, Banks held a number of positions with WordPerfect, Novell, Modus Media International and Power Quest. Prior to these positions, Banks served in the Department of the Navy from 1987 to 1992.
"I am excited to be joining the Electronic Transactions Association Board of Directors," stated Banks. "Having recently served on the ETA Internet Committee, I truly understand and recognize first hand the value and vital role the ETA plays in helping to shape the payments industry. I sincerely believe I can make a difference and add significant value to the mission and objectives of the ETA and its ability to influence the payments industry."
About Authorize.Net® (www.authorize.net)
Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, retail, mail order/telephone order (MOTO) call centers and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers. Authorize.Net is a service of Lightbridge, Inc.
About Lightbridge® (www.lightbridge.com)
Lightbridge, Inc. (NASDAQ:LTBG) is a leading analytics, decisioning and e-commerce company that businesses trust to manage customer transactions. Lightbridge adds value to fraud screening, credit qualification, payment authorization, billing, and enhanced voice services. Lightbridge solutions leverage intelligent automated systems and human expertise, delivered primarily through the efficiencies and cost savings of an outsourced business model. Businesses around the world use Lightbridge to make smarter decisions, deliver better services, provide secure payments, reduce costs and enhance the lifetime value of their customers. For more information, visit www.lightbridge.com or call 800-LIGHTBR.
Contacts:
David Schwartz
Authorize.Net.
425-586-6039
Lynn Ricci
Lightbridge, Inc.
781-359-4854
lricci@lightbridge.com
AUTHORIZE.NET, LIGHTBRIDGE, and the Lightbridge logo are registered trademarks of Lightbridge, Inc. All other marks are the property of their respective owners.
Forward-looking Statements
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's partnerships, products, commitments, compliance certifications, services markets and growth prospects and successes are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current Authorize.Net's beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) dependence on a limited number of clients, (ii) the Company's revenue concentration in the wireless telecommunications business and the declining subscriber growth rate in that business, (iii) continuing rapid change in the telecommunications industry and payment processing industries, and other markets in which the Company does business that may affect both the Company and its clients, (iv) the impact of competitive products, services and pricing on both the Company and its products and services, (v) market acceptance of the Company's new or enhanced products, services and technologies, (vi) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions or attacks on Authorize.Net's payment system that may impair the operations of its payment system, changes or failures to comply with credit card association rules, security compliance programs, governmental regulation and the application of existing laws to Authorize.Net's business and dependence on relationships with a third party payment processors, and (vii) factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission including, without limitation, its 2004 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements.
Authorize.Net Launches New Corporate Web Site Designed to Highlight Internet Protocol Transaction Processing Solutions
2005 ETA Annual Meeting & Expo, LAS VEGAS, NV, March 15, 2005 — Authorize.Net Corporation, a service of Lightbridge, Inc., (Nasdaq: LTBG), today announced that it has launched a new corporate Web site designed to highlight the company's Internet Protocol (IP) based transaction processing solutions.
Highlights of the new Web site, accessible at http://www.authorize.net, include a completely redesigned look and feel, improved navigation, expanded information describing each of the IP solutions Authorize.Net offers, a downloadable library of datasheets and case studies, information on partner programs, and a directory of third party providers that have integrated their solutions to the Authorize.Net platform. Visitors to the site can quickly identify the section of the site that is most relevant for them, depending on whether they are a reseller, merchant or third party solutions provider. Additionally, the new Web site is designed to provide specific information about IP transaction processing solutions for a variety of different merchants including retail, e-commerce, mail/telephone order (MOTO) and mobile merchants.
"As Authorize.Net continues to establish itself as a leading provider of IP payment solutions, it is essential that our Web site reflects the evolution of the company." stated Roy Banks, Authorize.Net president. "The new design, navigation and content combine to support the numerous solutions we provide for our resellers, merchants and third party solutions providers. We fully expect this new site to become a valuable resource for information regarding IP payment solutions for all of our resellers, merchants and partners."
About Authorize.Net® (www.authorize.net)
Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, retail, mail order/telephone order (MOTO) call centers and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers. Authorize.Net is a service of Lightbridge, Inc.
About Lightbridge® (www.lightbridge.com)
Lightbridge, Inc. (NASDAQ:LTBG) is a leading analytics, decisioning and e-commerce company that businesses trust to manage customer transactions. Lightbridge adds value to fraud screening, credit qualification, payment authorization, billing, and enhanced voice services. Lightbridge solutions leverage intelligent automated systems and human expertise, delivered primarily through the efficiencies and cost savings of an outsourced business model. Businesses around the world use Lightbridge to make smarter decisions, deliver better services, provide secure payments, reduce costs and enhance the lifetime value of their customers. For more information, visit www.lightbridge.com or call 800-LIGHTBR.
Contacts:
David Schwartz
Authorize.Net.
425-586-6039
Lynn Ricci
Lightbridge, Inc.
781-359-4854
lricci@lightbridge.com
AUTHORIZE.NET, LIGHTBRIDGE, and the Lightbridge logo are registered trademarks of Lightbridge, Inc. All other marks are the property of their respective owners.
Forward-looking Statements
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's partnerships, products, commitments, compliance certifications, services markets and growth prospects and successes are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current Authorize.Net's beliefs and expectations of the management of the Company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) dependence on a limited number of clients, (ii) the Company's revenue concentration in the wireless telecommunications business and the declining subscriber growth rate in that business, (iii) continuing rapid change in the telecommunications industry and payment processing industries, and other markets in which the Company does business that may affect both the Company and its clients, (iv) the impact of competitive products, services and pricing on both the Company and its products and services, (v) market acceptance of the Company's new or enhanced products, services and technologies, (vi) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions or attacks on Authorize.Net's payment system that may impair the operations of its payment system, changes or failures to comply with credit card association rules, security compliance programs, governmental regulation and the application of existing laws to Authorize.Net's business and dependence on relationships with a third party payment processors, and (vii) factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission including, without limitation, its 2004 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q. The Company undertakes no obligation to update any forward-looking statements.
