TEEN INVENTS ELECTRONIC FUNDS TRANSFER DEVICE
Macon, GA -- A revolutionary device that fuses contemporary cellular technology with an electronic funds transfer system was invented by Robby Mathis, a 15-year-old whiz kid from Macon, Georgia who holds the patent pending. The device, called GreenLine," is now in its early development stages.
GreenLine TM is small enough to fit in the palm of ones hand and features a banking interface capable of accessing savings, checking and credit card accounts. It also supports investment trading in real time and will combine three devices in one -- the transfer system, a cell phone, and a PDA. The GreenLine TM device features touch-screen dialing, Microsofts Pocket PC software, and encrypted, point-to-point infrared data transfer.
Cellular service will be offered through a third-party provider and will include Internet and chat capabilities. For funds transfer, the customer chooses the preferred payment method at the point-of-sale. The funds transfer device will allow payment options in multiple forms of currency and will then route the transaction. Theft will be prevented by use of PIN-encrypted protection.
The devices will be furnished to banks at no cost by InterNation Commerce Communications and made available through an individuals financial institution where it will be programmed with the consumers personal account information. Revenue for InterNation will be generated by vendor transaction fees and cooperative agreements with third party cellular service providers. Mathiss company, Bretsky Corporation, will set up InterNation Commerce Communications, and this company will serve as the claims processing company for the electronic funds transfer system.
Given time, GreenLine will be in the pocket or purse of every adult. It may become as indispensable as ones personal computer," said Mathis, an Atlanta native.
Product roll-out for GreenLineTM is scheduled for the third quarter of 2003.
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