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Infospace Launches Wireless Payment Processing Service Turning Mobile Devices Into Point of Sale Systems

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Infospace Launches Wireless Payment Processing Service Turning Mobile Devices Into Point of Sale Systems InfoSpace Launches Wireless Payment Processing Service Turning Mobile Devices Into Point of Sale Systems New Service Built on InfoSpace's Leading Payment Processing Platform, Authorize.Net™, Which Processed $449 Million Worth of Transactions In Q4 2000, Brings Wireless Payment Processing to Merchants Worldwide BELLEVUE, Wash.--(BUSINESS WIRE)--Feb. 27, 2001--InfoSpace (Nasdaq:INSP), a leading global provider of cross-platform merchant and consumer infrastructure services on wireless, broadband, and narrowband platforms, today announced the launch of a new mobile commerce service that enables merchants to process transactions anytime anywhere via almost any Internet-enabled personal digital assistant (PDA). InfoSpace's Wireless Payment Processing Platform, Pocket Authorize.Net™, allows credit cards to be authorized, charged or credited without using a traditional card swipe terminal or PC with a fixed line connection. This announcement underscores InfoSpace's commitment to providing merchants with all of the tools necessary to market, promote, and sell their products and services to consumers over any device. Merchants now have the freedom and flexibility to instantly process transactions on the spot with a handheld device, particularly useful for businesses with mobile sales forces or any business that has a need to get closer to their customers. "InfoSpace's merchant services are groundbreaking in their ability to bridge the online and offline worlds by providing solutions to local businesses and service companies that enable them to leverage technology to drive customer traffic and increase sales," said Naveen Jain, chairman and chief executive officer of InfoSpace. "The launch of the Wireless Payment Processing service provides yet another innovative technology to merchants that empowers them to develop new and creative ways to build their business." About InfoSpace InfoSpace is a leading global provider of cross-platform merchant and consumer infrastructure services on wireless, broadband, and narrowband platforms. The company provides commerce, information, and communication infrastructure services to wireless devices, merchants, and Web sites. InfoSpace's partners encompass a global network of wireless, PC, and non-PC devices, including cellular phones, pagers, screen telephones, television set-top boxes, online kiosks and personal digital assistants. InfoSpace has relationships with AT&T Wireless, Cingular Wireless, Intel, Virgin Mobile, Verizon Wireless, Hasbro, National Discount Brokers, and Bloomberg, among others. InfoSpace's affiliate network also consists of more than 3,200 Web sites that include AOL, Microsoft, NBC's Snap, Lycos, and ABC LocalNet. InfoSpace is also positioned to tap the market for broadband wired (DSL and cable) and broadband wireless (2.5G and 3G) services, such as interactive gaming, television and other entertainment services. In addition, the company recently added back-end payment processing to InfoSpace's existing commerce services, allowing InfoSpace to offer everything a merchant needs to conduct the entire lifecycle of a transaction, one of the key drivers of mobile commerce adoption. NOTE: This release contains forward-looking statements relating to the development of the company's products and services and future operating results, including statements regarding InfoSpace's Wireless Payment Processing Platform, Pocket Authorize.Net™, that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include growth rates within the Company's respective business areas, the progress and costs of the development of our products and services and the timing of market acceptance of those products and services. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in InfoSpace's Annual Report on Form 10-K, in the section entitled "Factors Affecting InfoSpace's Operating Results, Business Prospects and Market Price of Stocks." Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. InfoSpace undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Contacts InfoSpace Adam Whinston, 425/201-8946 [email protected].
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