Date Posted: 2/11/2004
Internet Access for X-Charge Payment Processing Now Available
FOUNTAIN VALLEY, Calif., Feb. 11 /PRNewswire-FirstCall/ -- CAM Commerce Solutions, Inc. (Nasdaq: CADA - News) announced today that it has released a new version of its X-Charge Payment Processing software that allows customers to process credit and debit cards through a secure Internet connection, resulting in average payment processing times of approximately three seconds. The software is currently installed and operating in existing customer sites and has been certified by CAM's third party payment processor.
"This enhancement to our X-Charge product is important not only for our own customers looking for high speed transactions, but because it opens up additional opportunities with potential X-Charge resellers who have made secure Internet access for payment processing a requirement to move forward with us due to their own customer's requirements," said Geoff Knapp, CEO of CAM Commerce Solutions. "We now offer both a dial up and Internet connection solution allowing us to meet nearly any customer's needs for speed and connection options."
As of the end of December 2003, CAM had over 50 resellers that had at least one live customer account processing with X-Charge. The combined customer bases of these resellers exceeds 20,000 customers. Since that time, several additional resellers have brought their first customer account live processing with X-Charge, and many more resellers are in various stages of implementing CAM's X-Charge software into their own products.
The current projected annual run rate of X-Charge payment processing service revenue exceeds $2.5 million per year, based on current results. CAM is currently processing credit and debit card transactions for over 2,000 customers and is adding approximately 100 new processing clients each month.
About CAM Commerce Solutions
CAM Commerce Solutions, Inc. provides total commerce solutions for traditional and web retailers that are based on the Company's open architecture software products for inventory management, point of sale, sales transaction processing, accounting, and payment processing. These solutions often include hardware, installation, training, service, and payment processing services provided by the Company. You can visit CAM Commerce Solutions at www.camcommerce.com .
Important Information
The statements made in this news release, including those relating to the expectations of profitability and economic climates, are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Words such as "will," "should," "believe," "expect," "anticipate," "outlook," "forecast," "optimistic," "feel," "potential," "continue," "intends," "plans," "estimates," "may," "seeks," "would," "future," "bright," "projected", and other similar expressions that predict or indicate future events or trends, or that are not statements of historical matters, identify forward-looking statements. Expectations concerning financial results for future quarters are not actual results and are based upon preliminary estimates, as well as certain assumptions management believes to be reasonable at this time. Investors should not rely upon forward looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from our expectations, and the company expressly does not undertake any duty to update forward-looking statements which speak only as of the date of this news release. The performance of any one quarter may not be indicative of future performance, particularly given prevailing market and economic uncertainties. In addition to the factors set forth elsewhere in this release, the economic, competitive, technological, and other factors identified in CAM Commerce Solutions' filings with the Securities and Exchange Commission could affect the forward looking statements contained in this news release.
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Source: CAM Commerce Solutions, Inc.
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