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KURANT AND STONE MOUNTAIN FINANCIAL SYSTEMS, INC. JOIN FORCES TO ADVANCE INTERNET RETAILING
Kurant Corporation and Stone Mountain Financial Systems, Inc. have signed an agreement to jointly market StoreSense and the Internet Cash Purchase SystemSM, Stone Mountain's patent-pending payment process that allows Internet users to make online purchases without credit cards, bank accounts or other electronic means of payment.
KURANT AND STONE MOUNTAIN FINANCIAL SYSTEMS, INC. JOIN FORCES TO ADVANCE INTERNET RETAILING
Two Companies Look to Open New Markets by Making E-Commerce Accessible to the "Cash Economy"
SAN FRANCISCO and El Segundo, Calif. - January 9, 2002 - Kurant Corporation and Stone Mountain Financial Systems, Inc. have signed an agreement to jointly market StoreSense , Kurant's award-winning e-business solution for small business, and the Internet Cash Purchase SystemSM, Stone Mountain's patent-pending payment process that allows Internet users to make online purchases without credit cards, bank accounts or other electronic means of payment.
Kurant and Stone Mountain will target two segments of the Internet user market currently inaccessible to online retailers -- the large and rapidly growing "cash economy" population, and the estimated 60% of current Internet users who do not shop online due to concerns about privacy and credit fraud. The partnership between the two companies will encompass joint marketing, sales and business development activities.
"We're pleased with this partnership with Stone Mountain, which will not only allow us to develop an untapped market, but more importantly to extend the promise of the Internet to a previously unrepresented group," said Curtis Pierce, CEO at Kurant. "Until now, the requirement for electronic payment has prevented online commerce from reaching all sectors of the market. Together, Kurant and Stone Mountain can break this barrier."
Said Lawrence Moreau, CEO of Stone Mountain, "To reach our ultimate customer, it is critical that we establish a clear channel to the merchant community. Kurant, which is highly regarded in the industry for its award-winning StoreSense e-business technology, is an ideal partner for that endeavor."
About Stone Mountain Financial Systems, Inc.
Stone Mountain's Internet Cash Purchase SystemSM is a unique, patent-pending payment system that allows Internet users to purchase goods/services without the need to have credit cards, bank accounts or other electronic means of payment. ICPSSM reaches the large and rapidly growing "cash only" Internet population. It is also attractive to the millions of consumers concerned about Internet privacy and credit fraud. For product information, go to http://www.icps.info" target="_blank">www.icps.info. For more information about Stone Mountain, contact http://www.smfsi.com" target="_blank">www.smfsi.com or 310-576-9192.
About Kurant
Kurant Corporation provides software infrastructure that allows large corporations to deliver branded e-business services to their small and medium-sized business customers. Kurant's award-winning flagship product, StoreSense, includes electronic commerce, mobile commerce, supply chain communication, and inventory and customer management. StoreSense is offered on a cost-effective subscription basis and runs on Windows 2000, Windows NT, Linux and Solaris platforms. Founded in 1996, San Francisco-based Kurant is privately held and has received investments from Deep River Ventures, Cobalt Networks, Garage.com, Group One, and TransAtlantic Partners. For more information, contact Kurant at http://www.kurant.com" target="_blank">www.kurant.com or (888) 463-2696.
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NOTE: Brands and products referenced herein are the trademarks or registered trademarks of their respective holders.
Media Contacts:
Stephanie Edwards
Kurant Corporation
415-241-9150 x110
stephanie@kurant.com
Kristine Bunikiewicz
Stone Mountain Financial Systems, Inc.
310-597-9192
kbunikiewicz@smfsi.com
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