Easy Card to Serve Bettors in California

6 November 1998

Plans are underway for the debut of a combination credit card and ATM card that will, among a multitude of functions, allow sports and race bettors to open and replenish wagering accounts.

Electronic Transactions and Technologies (ET&T) and Oberthur Smart Cards USA have entered into a strategic alliance to develop the Oberthur-produced Easy Card, which will also serve as and electronic wallet and stored-value card for nonbanking consumers. Oberthur and ET&T intend to establish a "consortium of select companies" to develop the potential of the product.

ET&T is presently distributing free ATM-card/credit-card/smart-card terminals in public locations. The first application of these terminals is to allow waiting consumers the ability to shop from printed catalogs while they wait at car washes, hair salons, hotel lobbies, clinics, etc.

The two companies are focused on beginning a Los Angeles-area pilot program where the Easy Card will be used with the terminals in public locations, and later in the home, for paying a utility bill by the ATM-card and PIN side for a banking consumer and by the stored-value-card side of the Easy Card for a nonbanking consumer.

The usage of the card and the terminal to legally replenish or open off-track-betting gaming accounts and other types of sports gaming will also be tested by Betting Inc. (OTC BB:BETT).

ET&T will act as the bank host, processing the incoming transactions.

The development of the Easy Card, in conjunction with inexpensive mass-marketed home and office terminals, will allow both the banking and nonbanking consumer the ability to effect online, real-time cash electronic transactions.

Oberthur Smart Cards is an international leader in manufacturing and personalizing high-value-transaction cards. ET&T is a leader in the development of the PERFECT industry of personal, encrypted, remote financial electronic-card transactions, and has developed the terminal and the host processor to effect these transactions. Betting Inc. is a facilitator of PERFECT gaming transactions.