eCatalystOne ANNOUNCES LICENSE AGREEMENT WITH
TODITO.COM S.A. de C.V.
Latin American Portal to Offer Internet Global Online Payment Services in Mexico and U.S.
NEWPORT BEACH, Calif., October 1, 2001 - eCatalystOne, provider of Global Online Payment Services, today announced that Todito.com, the leading Internet portal and marketplace for Spanish speaking community in North American, has signed a definitive agreement to license eCatalystOne's ePAID services. This agreement will enable Todito.com to offer its Latin American and U.S.-based customers the ability to create prepaid, stored-value online accounts. The customer may then use this Todito.com branded service to shop with merchants within their country or with ones that are across the boarder.
Today, many of Todito.com's Latin American shoppers must pay for eCommerce transactions as they occur, requiring repeated deposits of funds at selected banks and other institutions. The new service, through eCatalystOne, enables cash deposits into a stored value account, from which they can shop repeatedly. Using ePAID's existing connections to many of the U.S.'s leading eMerchants, these Latin American shoppers now have an easy way to shop in these cross-boarder stores.
Todito.com is reaching into the underserved and quickly growing Hispanic marketplace in the U.S. by leveraging eCatalystOne's pool of over 30,000 domestic cash collection sites.
eCatalystOne is one of the pioneers in Online Payment Services for the Internet. "We have focused our energies on serving international eCommerce service providers who wish to provide prepaid accounts for their in-country business, and connect to U.S. eMerchants," said Dennis Andrews, eCatalystOne's chief executive officer and chairman. "Todito, with its substantial user base and strong financial position, is an ideal partner".
The Todito.com ePAID system is scheduled to begin service in the fourth quarter of 2001 in both Mexico and the United States.
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