Press Release

ConSyGen Announces the Launch of its BizPay(TM) Payment System

BizPay(TM) merchants can accept credit cards online without traditional merchant services. Merchants will receive real-time fraud screening and real-time reporting when using the BizPay(TM) technology.

TEMPE, AZ - July 11, 2001 -- ConSyGen, Inc. (OTC Bulletin Board: CSGI) announced today that the beta testing of its BizPay(TM) payment system has been successfully completed. On July 16th, BizPay(TM) will be launched and will accept merchants wishing to use its BizPay(TM) payment system. The launch will be supported by a very aggressive marketing campaign, designed to reach over 1,000,000 potential merchants per day, for the next several weeks. Phoenix Burns, Inc. d.b.a. Internet Corporate Awareness Programs (ICAP), ConSyGen's online marketing firm, will spearhead the marketing campaign.

The BizPay(TM) payment system, which will be used by such industry heavyweights as Earthlink and Cardservice International, has been tested privately for several months and is now ready for general availability. Cardservice International, servicing over 185,000 merchants and processing over $12 billion in annual bankcard volume, is ConSyGen's preferred merchant bankcard service provider.

Merchants will pay for BizPay's(TM) superior technology only when transacting business. On each transaction, 5% of the transaction plus $1.00 is charged. Since BizPay(TM) does not charge the monthly fees that more traditional processors charge, BizPay(TM) merchants will find this solution very cost effective. Traditional merchant service accounts generally have monthly service fees of roughly $55.00 assessed before the merchant has accepted a single transaction. In addition to the monthly fees, which are generally assessed for such services as customer service phone support, payment gateway license fees, monthly printed statement fees, and a monthly volume minimums, top-tier Internet merchants can expect to pay approximately 2.85% plus $0.30 per transaction. BizPay(TM) merchants only pay fees when they transact business within the BizPay(TM) payment system. In addition to no monthly fees, BizPay(TM) does not charge application or setup fees.

Lewis Burridge, ConSyGen CEO said, "A merchant who does only one $50.00 transaction will pay approximately $3.50 to BizPay(TM). If that same merchant had a traditional merchant account, in addition to paying 2.85% plus $0.30 for the transaction, he would also be assessed the $55.00 in monthly fees. $3.50 is a lot easier for a small merchant to justify than the $56.73 he'd be paying a traditional card processor." Burridge continued, "In addition to being more cost effective for smaller merchants, we also provide real-time statements to our merchants. Rather than waiting 30-45 days to review their previous month's book of business, our merchants simply login to their BizPay(TM) Merchant Account for real-time reporting. Our merchants can manage their current book-of-business anytime, in real-time. BizPay isn't for the Amazons of the world, not today at least. Although the fraud prevention tools and real-time reporting make BizPay(TM) the ideal solution for any merchant, it is expected that the system's early success will be with smaller merchants just entering the eCommerce arena, or for those merchants looking to alleviate the steep monthly fees assessed for traditional merchant services. Our relationships with Cardservice International and Earthlink indicate that this market is extremely under-served, and has been waiting for our "pay-for-play" solution."

In addition to Earthlink-specific launch later this summer, ConSyGen is also working with other major shopping cart vendors, bankcard processors, acquiring banks, and Internet Service Providers. It is estimated that only 20% of the 25,000,000 merchants in the United States are currently setup to accept credit cards. Many of those merchants, BizPay's(TM) target-market, currently do not accept credit cards, citing the monthly fees associated with a traditional merchant account as their primary objection. As the technology gains mind- and market-share, BizPay(TM) could easily be the next "household name" on the Internet.

Merchants wishing to signup prior to July 16th may visit www.mybizpay.com and complete the BizPay(TM) Merchant Signup Form located on the homepage. Email notification will be sent to those merchants who have signed up prior to July 16th, notifying them of the availability of the BizPay(TM) payment system. The online application for the complete offering of BizPayMerchant Services will be available on July 16th at the same website.

ABOUT CSGI

Established in 1996 as a high technology software development and R&D company, ConSyGen, Inc. has focused its business on providing innovative and superior commerce solutions worldwide. The primary CSGI product lineup includes the Counterfeit Cop(TM) and BizPay(TM).

Forward Looking Statements

Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those projected in such forward-looking statements. Factors which could affect results include the development of competing or superior technologies, market awareness, acceptance of ConSyGen's technology or products, the company's ability to attract and retain qualified personnel, the companies ability to protect its proprietary information and other risk factors set forth in the company's SEC filings.

CONTACT:

BreakOut Investment Marketing
David Keaveney, 602/478-1621

# # #


   
Subscribe and receive targeted press release announcements. Choose from several categories. Sign up today!

Media Searches
Reference Tools
Journalism Sites
Public Relations
PR Bookstore
Organizations/Assns.
Careers




Press Release Services (home) | Press Release Submission | Press Release Writing | Place Order | Contact Us | Site Map


Copyright © 1998-2008 eReleases® (MEK Enterprises LLC)
All Rights Reserved. (Press release use subject to eReleases' terms and conditions).