News release examples that follow include:
Author’s
note: example of leadership change release
JACK
McDONNELL APPOINTED CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF PAYLINX CORPORATION
PaylinX
Strengthens Management Team and Positions Itself for Future Growth
as Leading Provider of E-Commerce Payment Solutions
St. Louis, January 6, 2000 PaylinX Corporation, the recognized leader in enterprise payment solutions, today announced that John (Jack) J. McDonnell Jr. will become chief executive officer and chairman of the company on January 31, 2000.
As founder and former president and CEO of Transaction Network Services Inc. (formerly NYSE:TNI, commonly referred to as TNS), McDonnell led the worldwide provider of e-commerce data communications services through its initial public offering in 1994 and through its acquisition by PSINet Inc. (NASDAQ:PSIX) in November 1999 for stock and cash worth over $800 million. TNS is the leading provider of network services to the payment industry and operates subsidiaries in Europe, Australia and Japan.
"A pre-IPO, high-growth technology company requires an exceptional leader – someone with a proven track record in the private and public financial markets along with extensive entrepreneurial credentials," says Bob Lozano, PaylinX founder and the current chief executive officer and chairman. "Jack has the ability to make strategic choices that will define the company's success for years to come. I am honored to place PaylinX into the hands of a respected leader."
Lozano will help PaylinX make the leadership transition. "Then, once the time is right," he explains, "I will explore new entrepreneurial opportunities. As with PaylinX, I will look for opportunities to build companies that cause tectonic shifts in the marketplace."
"Jack has become a trusted advisor," says John McCarthy, a PaylinX board member and a general partner of Gateway Venture Partners, the lead investor in the PaylinX 1998 funding round of $4.5 million and an early investor in TNS. "He has been a member of the board of directors for a year. He helped TNS and PaylinX forge a partnership affording both companies lucrative opportunities in the Internet space. In August, Jack made a $1 million investment in PaylinX, demonstrating his commitment to the company's future."
Prior to founding TNS, McDonnell was president and CEO of Digital Radio Network Inc., a local access bypass carrier for POS transactions. He also served as director of technology and telecommunications for the National Commission on Electronic Funds Transfer and held positions as vice president of international operations and vice president of sales for Tymnet, with responsibility for both private network sales and public network services. McDonnell has also served as group vice president for the Information Technologies and Telecommunications Group of the Electronic Industries Association (EIA). A founder of the Electronic Funds Transfer Association (EFTA), McDonnell remains active in the cross-industry trade group and currently serves on both the board of directors and the executive committee.
Currently, McDonnell serves as chairman of the board of directors at Credit Management Solutions Inc. (NASDAQ:CMSS) and on the board of directors at InteliData (NASDAQ:INTD). He was the recipient of KPMG Peat Marwick's High Tech Entrepreneur Award in 1997. He also serves on the board of directors of The Shakespeare Theater in Washington, D.C. and Marymount University in Virginia, as well as the board of trustees of his alma mater, Regis High School in New York City. McDonnell holds a bachelor of science in electrical engineering from Manhattan College and a master of science in electrical engineering from Renssalaer Polytechnic Institute.
Company
Milestones in 1999
The PaylinX employee base grew significantly with important additions
in product development, customer support, sales and marketing. Key executive
appointments included Bill McCormick, senior vice president, sales and
marketing; Yvette Bohanan, senior vice president and chief technology
officer (CTO); Mark Belles, vice president, alliances; Steve Hoffman,
vice president, customer service; and Alanna Kellogg, vice president,
marketing.
PaylinX added more than a hundred new employees, split approximately equally between sales/marketing and development. PaylinX also expanded into international markets and now has operations in Canada, Europe and Australia.
PaylinX received market validation of the company's e-commerce payment solution by developing customer relationships across all market segments, including leading dot.com companies, large call centers and multi-channel corporations – all requiring a fast, scalable, flexible payment solution with a high return on investment.
About
PaylinX
PaylinX Corporation is a recognized leader in e-commerce payment solutions.
The PaylinX payment server is a robust, enterprise-wide transaction processing
platform that operates behind the scenes to authorize and settle credit
card and other payment transactions in real-time through built-in connections
with third-party processors and merchant banks, all in seamless integration
with legacy front-end, customer relationship and financial management
systems. The fully scalable PaylinX payment solution enables organizations
to accept and process payment transactions across multiple channels –
Web storefronts, call centers, interactive voice response (IVR) systems,
in-store point-of-sale systems and kiosks – all through a single,
uniform payment architecture. PaylinX is headquartered in St. Louis and
may be reached at (314) 692-0929 or www.paylinx.com.
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Author’s note: example of new product for new
market release
PAYLINX
INTRODUCES PAYMENT SOLUTION FOR ISPs, CSPs and ASPs
EnterpriZ
Gateway™ Offers Secure, Scalable Credit Card
and Other Payment Services in a Multi-Merchant Environment.
(RESTON, VA, March 7, 2000) PaylinX Corporation, the recognized leader in payment solutions for Internet businesses, call centers and large enterprises, today introduced EnterpriZ Gateway, a payment solution especially architected for companies providing application and transaction services to merchants and other companies.
Today's announcement coincided with the annual meeting of the Electronic Transactions Association (ETA), an international trade association representing businesses that provide transaction processing products and services to merchants.
"The
business of payments is booming," states John J. (Jack) McDonnell,
chairman and CEO of the three-year-old software company. "In the
past year, PaylinX has made huge gains in market share with large-volume
merchants. Now we're ready to help companies provide credit card and other
payment services to organizations that want to outsource their payment
needs."
EnterpriZ Gateway is a multi-merchant version of the enterprise payment
server that PaylinX introduced in 1996, called EnterpriZ Engine.
"We've
eyed the ISP, CSP and ASP market for a few months," says McDonnell.
"We talked to service providers wanting to integrate payment services
into existing product suites. We talked to merchants with smaller transaction
volumes. We talked to merchants with large volumes who want to outsource.
We quickly realized that PaylinX has much to offer to aggregators."
"Large or small, every company wants to provide excellent customer
service," McDonnell explains. "So many of EnterpriZ Gateway's
capabilities are borrowed from EnterpriZ Engine's secure, reliable payment
processing platform."
McDonnell continues, "This includes fast, real-time processing of payments needing authorization, such as credit card purchases; handling multiple payment forms such as credit cards, electronic checks and procurement cards; a single, integrated enterprise-wide solution for payments originating from multiple channels, whether over the Internet, through call centers and IVR systems, through the point-of-sale and self-service kiosks; a secure, scalable and reliable payment processing platform."
Still, multi-merchant environments have unique requirements, McDonnell explains further. For example, he says, "EnterpriZ Gateway uses our proprietary Payment Pipe technology to connect to multiple processors / merchant banks from a single server so that one merchant can use Merchant Bank A and another Merchant Bank B. EnterpriZ Gateway also stores transaction information in a database with 'firewalls' so that one merchant can't access another merchant's data. It also offers Web reporting so information distribution is simplified."
"We're committed to delivering a robust, scalable solution suitable for multi-merchant environments in EnterpriZ Gateway," McDonnell concludes. "This means delivering the right technology, the right features and the right services."
About
PaylinX
PaylinX Corporation is the recognized leader in payment solutions for
Internet businesses, call centers and large enterprises. In 1996, PaylinX
pioneered a new approach to enterprise-wide payment processing, a payment
server. The PaylinX payment server, called EnterpriZ Engine, is a robust
transaction processing platform that operates behind the scenes to authorize
and settle credit card and other payment transactions in real-time through
built-in connections with third-party processors and merchant banks, all
in seamless integration with legacy front-end, customer relationship and
financial management systems. The fully scalable PaylinX payment solution
enables organizations to accept and process payment transactions across
multiple channels—Web storefronts, call centers, interactive voice
response (IVR) systems, in-store point-of-sale systems and kiosks—all
through a single, uniform payment architecture. PaylinX may be reached
at (314) 692-0929 or www.paylinx.com.
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Author’s
note: example of new funding release
PAYLINX
COMPLETES FINANCING OF $32 MILLION
E-commerce Software Firm's Second Round Oversubscribed by $12 Million
(RESTON, VA, April 25, 2000) PaylinX® Corporation, the recognized leader in payment solutions for Internet businesses, call centers and large enterprises, today announced the completion of a second round of financing for $32 million.
"New money signals commitment to a new level of success," states John (Jack) J. McDonnell, chairman and CEO of the three-year old software company. "In the past year, PaylinX made substantial gains in market share and product development. With new financing in hand, we are ready to grow the company several times over."
According to McDonnell, the funding round was oversubscribed by $12 million. "Our investors hold great confidence in the enormous opportunities that await a company with a highly secure, scalable and reliable payment platform. Again and again, the investors heard our customers say that the PaylinX engine is a critical element in their e-commerce and enterprise infrastructure."
Major investors in the $32 million second round include:
·
Chase H&Q Access Technology Fund
· BOME Investors
· Capital Southwest Corporation
· CNF Investments
· Dunluce Investors
· Fitzgerald Partners
· Gateway Partners
· Hickory Venture Capital Group
· Jemison Investment
· McDonnell & Associates
· Orchard Capital Group
· PSI Net
· Southeastern Technology Fund
PaylinX completed an initial round of financing for $4.5 million in December
1998. Included in the new investor group are all three organizations that
participated in the 1998 financing: Gateway Venture Partners, the lead
investor in 1998; Southeast Technology Fund; and BOME Investors. Prior
to 1998, PaylinX was funded by sales revenue and investments by company
founders and their family members.
Record
revenue in first quarter 2000
"We're off to a fast start in 2000," McDonnell continues. "In
first quarter, we generated record revenue, exceeding total 1999 revenue
and nearly exceeding total revenue in company history."
PaylinX now provides secure, scalable enterprise-wide payment software
for more than 150 customers, including many of the world's leading brands.
"We are successfully penetrating every industry segment, whether
through large multi-channel corporations or dot.com businesses,"
says McDonnell. "We expect the marketplace momentum we're experiencing
to help us achieve our Year 2000 financial goals."
The sales momentum is driven by wide-spread adoption of the company's payment solutions, called EnterpriZ EngineTM and EnterpriZ GatewayTM. Introduced in 1996 as a highly flexible new approach to enterprise-wide payment processing, EnterpriZ EngineTM provides companies a robust payment infrastructure that operates behind the scenes to authorize and settle credit card and other payment transactions. Last month, PaylinX announced EnterpriZ Gateway, a multi-merchant solution for payment infrastructure targeted at ISPs, CSPs and ASPs wanting to integrate payment services into their own product suites.
PaylinX has U.S. sales offices in 17 cities, including: Atlanta, Baltimore, Boston, Chicago, Dallas, Boulder, Jacksonville, Los Angeles, Miami, Minneapolis, New Jersey, New York, Philadelphia, Raleigh, Salt Lake City, Seattle and St. Louis. In 1999, the company entered the international arena and now has offices in Toronto, London and Miami to provide coverage in the Canadian, European and Latin American markets.
Scalability
up to 50,000 transactions per hour on a single server
"PaylinX delivers solutions that truly scale, our customers' number
one requirement," says McDonnell. Both EnterpriZ Engine and EnterpriZ
Gateway can process up to 50,000 transactions per hour on a single server.
Using multi-threaded architecture that delivers First in LineTM customer
service to every cardholder, credit card and other payments are authorized
in real-time, typically in 2-5 seconds. Both solutions allow PaylinX customers
to accept payment transactions across multiple channels, including Web
storefronts, call centers, interactive voice response (IVR) systems, in-store
point-of-sale systems and self-service kiosks.
"Credit card processing is too often taken for granted - or is an afterthought," McDonnell says. "PaylinX solves real infrastructure problems. With PaylinX solutions in house, our customers lower processing costs, reduce lost sales, provide better customer service, gain bargaining power and increase flexibility."
About
PaylinX
PaylinX® Corporation is the recognized leader in payment solutions
for Internet businesses, call centers and large enterprises. In 1996,
PaylinX pioneered a new approach to enterprise-wide payment processing,
a payment server. The PaylinX payment server is a robust transaction processing
platform that operates behind the scenes to authorize and settle credit
card and other payment transactions in real-time through built-in connections
with third-party processors and merchant banks, all in seamless integration
with legacy front-end, customer relationship and financial management
systems. The fully scalable PaylinX payment solution enables organizations
to accept and process payment transactions across multiple channels—Web
storefronts, call centers, interactive voice response (IVR) systems, in-store
point-of-sale systems and kiosks—all through a single, uniform payment
architecture. PaylinX may be reached at (314) 692-0929 or www.paylinx.com.
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Author’s note: example of new product feature
release
PAYLINX
DELIVERS LEVEL III PURCHASING CARD SUPPORT FOR B2B CUSTOMERS
New Software Release Also Supports Multiple Processor Connections on a Single Server
RESTON, VA, May 8, 2000 PaylinX® Corporation, the recognized leader in payment solutions for Internet businesses, call centers and large enterprises, today announced the release of the third generation of its enterprise payment software. The new release is available immediately and includes support for corporate procurement cards along with connections to multiple processors on a single server.
New release
supports merchant and multi-merchant solutions
The new software release supports both PaylinX EnterpriZ EngineTM and
PaylinX EnterpriZ GatewayTM. EnterpriZ Engine is a merchant-centric, enterprise-wide
payment solution in operation at more than 150 high-volume businesses.
EnterpriZ Gateway is a multi-merchant, enterprise-wide payment solution
introduced in March 2000 and marketed to service providers such as ISPs
(Internet service providers), CSPs (commerce service providers) and ASPs
(application service providers).
Both solutions enable authorization and settlement of credit cards and other payment transactions via integrations with e-commerce, customer relationship management (CRM), enterprise resource planning (ERP) and other applications, along with built-in connections with third-party processors and merchant banks.
Procurement
card Level III acceptance important for B2B merchants
"Large employers and government entities are demanding the convenience
and control of procurement cards for corporate purchases," says Yvette
Bohanan, PaylinX chief technology officer and one of two architects of
the initial PaylinX solution in 1996. "So banks are actively issuing
plastic. But the process only works when merchants participate too. PaylinX
now fully supports the merchant side of corporate purchase cards, allowing
customers to pass important Level III purchasing data through the financial
networks back to the companies for whom the cards are issued."
"Level III procurement cards are a revolutionary purchasing tool," says Bohanan. "They dramatically reduce the cost of the corporate purchasing process, all while maintaining tight fiscal control. Our B2B customers - an increasing number - want to offer their corporate customers this new-world advantage."
With full support for MasterCard Corporate Purchasing Cards and Visa Purchase cards, the new PaylinX software release captures transaction-specific information such as item descriptions, counts and codes; discount rate and total discount; tax, freight, VAT and duty rates and amounts. At settlement, the PaylinX software passes the information to a processor (or merchant bank) who passes it, along with other merchant-specific information, to the card issuer. The issuer then provides both the transaction- and merchant-specific information to the corporation whose employee made the purchase.
"The
data elements are simple. But when vital purchase information is passed
to corporations, the simple becomes powerful," continues Bohanan.
Single-server connections provide new flexibility and bargaining power
With the new software release, PaylinX customers benefit from support
for multiple Payment PipesTM all operating on a single PaylinX server.
Payment Pipes are software and telecommunications connections developed by PaylinX that connect a PaylinX payment server with various third-party processors and merchant banks for transaction authorization and settlement. Payment Pipes insulate core processing functions from processor-specific protocols and operating requirements, delivering both increased operational flexibility and enhanced bargaining power for PaylinX customers.
EnterpriZ Gateway customers benefit from single-server support of one Payment Pipe for transactions from one group of merchants and a second or third or fourth Payment Pipe from other groups of merchants. This allows payment outsourcers to offer customers the flexibility to work with the merchant banks of their choice with minimal overhead and operating complexity.
EnterpriZ Engine customers also benefit from single-server support of one Payment Pipe to one processor/merchant bank for bankcard transactions and a second or third or fourth Payment Pipe for, for example, Discover, international, purchase card or other specialized transactions.
PaylinX has Payment Pipe connections to processors/ merchant banks estimated to represent 90 percent of the U.S. payment processing market. This includes connections to Vital (ISDN, frame relay and VirtualNet IP), Paymentech (frame relay), First Data Corporation (Nashville dial, Nashville ISDN, Nashville NIP, Nashville 574 NIP and frame relay, and South) and National Data Corporation (West, West NIP and East NIP). In addition, PaylinX will soon support Payment Pipes to Vital (modem and NIP), First Data Corporation (North), National Data Corporation (East and Canada) and Midwest Payment Systems.
About
PaylinX
PaylinX® Corporation is the recognized leader in payment solutions
for Internet businesses, call centers and large enterprises. In 1996,
PaylinX pioneered a new approach to enterprise-wide payment processing,
a payment server. The PaylinX payment server is a robust transaction processing
platform that operates behind the scenes to authorize and settle credit
card and other payment transactions in real-time through built-in connections
with third-party processors and merchant banks, all in seamless integration
with legacy front-end, customer relationship and financial management
systems. The fully scalable PaylinX payment solution enables organizations
to accept and process payment transactions across multiple channels –
Web storefronts, call centers, interactive voice response (IVR) systems,
in-store point-of-sale systems and kiosks – all through a single,
uniform payment architecture. PaylinX may be reached at 314.692.0929 or
www.paylinx.com.
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