| BUSINESSWEEK ONLINE : DECEMBER 13, 1999 ISSUE | ||||||||
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| BUSINESSWEEK INVESTOR -- INSIDE WALL STREET
Cash Technologies Eyes Your ATM Card How about using your automated-teller-machine card to purchase products over the Internet? It might seem like a piece of cake, but most people don't want to reveal their personal identification number (PIN) on the Net. That's where Cash Technologies (CHNG) comes in. It has agreed to launch a pilot program using its proprietary EMMA processing software with MP3.com, an online digital-music destination, and Sensar, a leading maker of a recognition system that scans the iris of a customer's eye. With this identification process, sending PIN numbers becomes unnecessary. ''This is a great convenience for people who don't own credit cards or for those who don't want to use credit cards on the Web,'' says Bruce Korman, chairman and CEO of Cash Technologies. MP3 customers participating in the pilot program will be able for the first time to use their bank ATM card to shop securely over the Internet at MP3's Web site. ''The capabilities of our EMMA system, combined with Sensar's iris- recognition products, will make shopping very convenient using ATM cards,'' says Korman. Already, Cash Technologies, whose stock has risen from 6 7/8 a year ago to 13 5/8 on Dec. 1, has attracted one ATM equipment maker to discuss the possibility of a merger, according to an investor close to the company. Indeed, in its most recent 10Q filing with the Securities & Exchange Commission, Korman disclosed that Cash Technologies is in negotiations for either a merger or the sale of the company. A major financial-services company has also expressed an interest in buying an equity stake in Cash, says a corporate insider. By GENE G. MARCIAL _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ BACK TO TOP |
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