Any bets on a Nasdaq or Dow bottom...?

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Originally posted by GREGDOGG:
Nice to see something's green...lol, I think I'll re-hibernate untill these markets start to turn...

Any bets on a Nasdaq or Dow bottom...?

Check the 10 year charts and place your bets....GLTA

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ATLANTA, March 29, 2004 (PRIMEZONE) -- InstaPay Systems, Inc. (OTC BB:IPYS.OB - News) announced today that its Kryptosima subsidiary has certified and begun shipping a new PIN pad for use with its payENKRYPT(tm) service, which enables Internet merchants to accept ATM card payments. Because of the new PIN pad's lower cost and improved features, its availability is expected to significantly increase market opportunities for payENKRYPT(tm).
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``Millions of Americans use their ATM card to make PIN-based purchases every week at grocery and retail stores. We believe that there is pent-up demand for the ability to make these same PIN-based payments on the Internet,'' stated Harry Hargens, President & CEO of InstaPay and its subsidiary Kryptosima. ``Both consumers and merchants prefer this payment method. Consumers appreciate the security, while merchants benefit from reduced cost and fraud risk.''

``ATM card transactions require that consumers enter their secret PIN number at a secure device, referred to as a PIN pad,'' Hargens adds. ``The PIN pad then encrypts the data for secure transmission. payENKRYPT(tm) is the first service to support the use of PIN pads attached to consumers' PCs to enable ATM card payments to Internet merchants.''

InstaPay expects Web merchants to deploy PIN pads to their best customers. ``PIN pad cost is crucial in this model,'' Hargens points out. ``The lower the cost, the more PIN pads merchants will deploy. Our cost for this new model is roughly half that of previous units, allowing us to offer them to merchants at aggressive prices. And while our initial sales focus is on the US market, we are pleased that some samples are already going to prospects in Canada and Europe.''

Per Hargens, the units have already been well-proven, these are not preliminary models or prototypes. ``We have been working for 12 months with Inventech, Inc., a Georgia corporation that specializes in the design and manufacture of point-of-sale equipment, to develop this device, but chose to keep things quiet until we were ready to go to production. First, specifications were jointly developed for a device that would be rugged and provide all needed functionality, while being as low cost as possible. Then a team of experienced engineers and programmers designed a device from the ground up to meet those requirements. Internal evaluation of samples began in November, and by early December we knew we had a winner. We recently began shipping samples to customers and prospects, and have scheduled a large production run for April.

``In addition to being lower cost, these units are smaller and more attractive than previous units, process transactions quicker, and are easier to install since they use a standard USB port.

``This is the latest in a series of steps that have slowly but surely positioned InstaPay/Kryptosima for profitable growth. Over the past year, we obtained a sponsor bank, certified with a major ATM network, went into production with the first Internet PIN debit transactions, began signing customers, and began licensing our technology outside the USA. We are optimistic that this latest step, the introduction of a new low-cost PIN pad, will help accelerate sales.''

About InstaPay Systems Inc.

InstaPay's focus is on the implementation of new payment services, such as ATM card payments from home or office. For additional information, visit http://www.instapaysystems.com and http://www.kryptosima.com

Press Release Source: InstaPay Systems

InstaPay Technology Licensee Initiates Production Use of New PIN Pad
Monday April 12, 8:00 am ET
Easy to Use Plug-n-Play Technology Enables Secure Internet Transactions From Any Location

ATLANTA, April 12, 2004 (PRIMEZONE) -- InstaPay Systems, Inc. (OTC BB:IPYS.OB - News) announced today that a customer of its Kryptosima subsidiary has begun using Kryptosima's technology in a production environment. Kryptosima has developed a patented system for delivering encrypted transactions over the Internet. This is the first and, to the Company's knowledge, only production system to enable Internet merchants to accept ATM card (``PIN debit'') payments.
In October 2003, Gartner Research reported that 45% of all U.S. adults will be using E-Billing and payment Applications by 2005. According to the Census Bureau of the US Department of Commerce, total e-commerce sales for 2003 were estimated at $54.9 billion, an increase of 26.3 percent (plus or minus 3.9%) from 2002.

InstaPay will generate revenues by charging merchants a fixed fee per transaction for PIN debit transactions, unlike credit card processing companies who charge a percent of the transaction. Merchants may choose to lower overall transaction costs by offering PIN debit payment solutions to consumers. In February of this year, Wal-Mart (NYSE:WMT - News) began refusing MasterCard's signature debit card and instead will require those customers to enter their PIN number. According to Speer & Associates Inc., a leading payment consulting firm based in Atlanta, this may be evidence that, ``the merchant community is exercising its right to move to a cheaper processing alternative.''

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``This is an important milestone for InstaPay/Kryptosima,'' stated Harry Hargens, President and CEO of InstaPay and Kryptosima. ``Early this month, one of our license customers began using our technology to secure private label payment transactions performed over the Internet by their customers.'' He added, ``The initial transaction volume in any new program is very modest, so the revenue we generate from this client in the next few months will be negligible. None-the-less, this event validates three important points for our business model. First, it demonstrates that companies will choose to use our technology and pay per-transaction license fees as we have proposed to all potential technology/patent license customers. Second, it validates that the new PIN pad we announced in March operates well in a production environment. And third, it shows that consumers will use hardware attached to their PC to facilitate secure transactions.''

Hargens continued, ``Initially, our primary focus in North America is on providing services directly to merchants, not establishing 'partners' through license agreements. However, one way to start generating revenue from markets outside North America as soon as possible may be to work with companies that license our patent and our software, so they can establish companies offering services to Internet merchants in their local market.''

This is also a fresh validation of the applicability of the Company's technology in the eCommerce market. According to US commerce department statistics and other industry estimates, eCommerce reached almost $100 Billion in 2003 and continues to grow at double-digit rates. That figure covers only the USA. The worldwide figure is larger and also growing.

(See http://www.census.gov/mrts/www/current.html for current eCommerce statistics)

Hargens further commented, ``Because of our patent, and the software package that we have developed to implement the concepts embodied in that patent, we believe that we are uniquely positioned to pursue a significant market share in the business of processing payments for this large and rapidly growing eCommerce market.'' (European patent EP1218865 can be viewed online at http://v3.espacenet.com/origdoc?DB=EPODOC&IDX=EP1218865&QPN=EP1218865)

Hargens concluded, ``The Company is staying in very close contact with this customer during their initial roll-out of the technology, providing them with comprehensive tech-support to help guarantee a successful launch. We are seeing details of their operation, the global scale of some of the transactions, the ubiquity of the Internet, and the potential of our technology that is being demonstrated, which is nothing short of overwhelming. In some cases we are seeing a bank on one continent do secure transactions with a bank customer on a second continent, using a service provided by servers running our software on a third continent, supported by a customer service staff on a fourth continent. And, that customer service staff is accessing data on servers running our software using remote data-access tools we provided. And ALL of this is being accomplished via our system and standard Internet connectivity.''

About InstaPay Systems Inc.

InstaPay's focus is on the implementation of new payment services, such as ATM card payments from home or office. The patented, easy to use Kryptosima system works with any desktop or laptop computer, enabling consumers to conduct secure transactions from any location without fear of identity theft. For additional information, visit http://www.instapaysystems.com and http://www.kryptosima.com