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Computer peripherals industry

Betting Inc. Secures Exclusive Rights to Electronic Transactions and Technology Inc.'s Pay Master Device

Strategic Insights

— 2 min read

Betting Inc., a leading provider of online wagering solutions, has made a significant move in the world of secure internet commerce by signing a Licensing Agreement with Electronic Transactions and Technology Inc. for their Pay Master device. This innovative device enables secure internet transactions by bypassing internet firewalls and using a second phone line to encrypt and transmit financial card data. The Pay Master device is set to revolutionize the way online wagers are made, offering unparalleled security and convenience to consumers.

Key Takeaways:

  • Betting Inc. has secured exclusive rights to the Pay Master device, a patented internet keyboard with built-in card reader, printer, and modem that encrypts and transmits financial card data over a secure phone line.
  • The Pay Master device bypasses internet firewalls and uses a second phone line to ensure secure internet commerce, making it an attractive solution for online wagers.
  • The device is designed to work with both ATM cards and PINs as well as smart cards, making it a versatile solution for the gaming industry.
  • Betting Inc. will be testing the Pay Master device in Australia and England, with the aim of rolling out the technology for same-as-cash internet wagers in the coming months.
  • The Pay Master device is expected to improve the overall security and convenience of online wagers, making it an attractive solution for consumers and gaming operators alike.
  • The Licensing Agreement between Betting Inc. and Electronic Transactions and Technology Inc. marks a significant milestone in the development of secure internet commerce solutions.
  • Tom Hughes, Chairman of Betting Inc., highlighted the benefits of using a second phone line for secure transactions, stating, "As an average consumer, why bother with internet firewalls and such when everyone understands bypassing the lurking dangers by simply using a second phone line which is not connected to the internet?"
  • Jay Goldberg, of Carnegie Cooke & Co., Inc., serves as the contact for Carnegie Cooke & Co, Inc. for Betting Inc. at 800-262-2331.

Statistics:

  • 100% of the Pay Master device's transactions are encrypted and transmitted over a secure phone line, providing unparalleled security for online wagers.
  • The device is designed to work with both ATM cards and PINs as well as smart cards, offering a versatile solution for the gaming industry.
  • Betting Inc. plans to test the Pay Master device in 2 countries (Australia and England), before rolling out the technology for same-as-cash internet wagers.

Sources:

  • Betting Inc. /CONTACT: Jay Goldberg of Carnegie Cooke & Co., Inc., 800-262-2331, or fax 702-796-5080, for Betting Inc./ (BETT) CO: Betting Inc. ST: Nevada IN: CNO SU: LIC CM-DO -- LAM047 -- 3283 01/05/98 12:23 EST http://www.prnewswire.com

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