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New US alliance for Trintech
Tuesday, April 03 2001
by Tony O'Brien


Trintech, the Irish provider of secure electronic payments solutions, has
announced a major US marketing and distribution alliance.

This sees the company link up with Princeton eCom, a US solution provider in the
billing and payments area for some of the top billers in the telecommunications,
mortgage and financial services, utility and cable industries.



The agreement gives both companies competitive advantage and strength in the race
to capture and define the secure mobile payments sector.



It is expected that the combined product offering of Trintech's PayWare ePayment
platform and the full suite of electronic billing from Princeton eCom will
leverage the Irish company's global reach and generate new revenue for the US
firm.



The deal will also give both companies' customers and prospects a more flexible
product offering through utilization of Princeton eCom's hosting capabilities.



Commenting on the deal, Trintech CEO, John McGuire, said: "This partnership
allows our combined customers to solve their electronic billing and m-commerce
payment issues cost effectively."



He said their combined strength would give customers a secure and robust
infrastructure solution in a market where prompt time-to-market billing solutions
are essential to achieve success.



Princeton eCom CEO, Curtis R. Welling, said partnership with Trintech provided
his company with a real-time credit card payment processing capability and
bolstered its position in the emerging mobile payments arena.



He added: "As wireless adoption increases, the demand for secure payment
anytime, anyone, anywhere solutions escalates. Together, Trintech and Princeton
eCom can bring to market solutions to address the burgeoning m-commerce space."



By 2005, Merrill Lynch predicts revenues of USD 208 billion from m-commerce while
by 2004, over 150 million people are expected to use mobiles or PDAs for wireless
banking or other financial transactions.



Acknowledging this growth potential, executives at both Trintech and Princeton
eCom agree that the alliance is among the first of what will be many moves within
their industry to consolidate the m-commerce payments market.



It is hoped that this new deal may bolster the outlook for Trintech, which has
suffered along with the general downturn in technology stocks. On 02 April
Trintech was trading in New York for around USD2 per share. At that price
Trintech stocks are worth about 4.5 percent of their 52 week high at USD44 per
share.