CONAVI Selects Trintech Technology for Industry FirstDebit Card Application for Web-Based...

NEW YORK--(BUSINESS WIRE)--April 27, 1999--

Trintech, the world's leading provider of secure electronic payment solutions, announced today that Corporacion Nacional de Ahorro y Vivienda (CONAVI) is launching its bill presentment and payment service based on Trintech's secure transaction-enabling

The implementation is one of the first times debit cards have been used for Internet payment transactions anywhere in the world. CONAVI debit cardholders now enjoy the convenience of paying their bills ranging from water to telephone on the Internet.

The new service allows Colombia-based CONAVI to reduce costs associated with bill payment processing through any of its 300 branches by up to 80 percent. Billing companies using CONAVI's service benefit from a streamlined presentment and payment process that cuts costs and simplifies bill paying for consumers. Trintech security and payment-processing technologies, including PayWare(tm), NetWallet(tm) and PayGate(tm), provide the foundation for CONAVI's innovative bill presentment and payment service.

"It is very clear to CONAVI that there is great market potential in providing secure electronic commerce and Internet-based bill payment and presentment services," said Dr. Carlos Mario Toro Villegas, vice-president of technology at CONAVI. "The need to offer a complete end-to-end e-commerce solution that is flexible led us to choose Trintech's suite of secure payment products. Trintech has demonstrated its world-class leadership in the provision of Internet-based secure payment solutions by its successful project implementation. For CONAVI, it is a pleasure to count on Trintech's solutions for this important project, which is the first of its class in Colombia and the rest of the world."

Companies using CONAVI's bill presentment and payment solution streamline the entire payment process. Cardholders' transactions are secured with Trintech's NetWallet based on the SET protocol. The companies process cardholder payments using Trintech's PayWare. Payment details are then securely passed to the bank where Trintech's PayGate resides. The lead integrator on the CONAVI project was Microsoft (Nasdaq:MSFT), through its Colombia-based partner Techmarketing.

"CONAVI's bill presentment and payment solution links billing companies with consumers to make the payment process faster, simpler, cleaner and more economical for everyone," said Fanny Sierra, Microsoft Internet customer unit manager in Colombia. "Microsoft technology is helping and supporting CONAVI in its permanent effort to establish new standards on the Internet and the whole financial sector -- it is an innovative, flexible and comprehensive service unlike any other available today."

"CONAVI clearly leads the market in providing electronic billing and payment services in South America," said John McGuire, co-founder and CEO of Trintech. "Unparalleled transaction processing and powerful security attained through Trintech products unequivocally gives CONAVI the competitive advantage needed in today's marketplace."

About CONAVI

CONAVI is a Savings and Loans Corporation whose financial and technological services are customer-oriented. It was founded in October 1972 by a group of entrepreneurs and companies from Medellin, Colombia.

CONAVI established its first office in April 1974 and from that moment CONAVI has been a leader promoting financial technological development in Colombia. It has a large network of branches (221) and Automatic Teller Machines (440), CONAVI is also a member of the major Financial Networks in Colombia: Red Multicolor, Redeban, Servibanca and ATH for a total of 2,280+ Automatic Teller Machines available nationwide and all the Master Card -- Maestro ATMs worldwide. Its high technological development has allowed it to reach the operational level of 4,628,000 transactions per month on average through its network of branches and 3,445,000 /month in its ATMs (measured as of March 1998). At present, CONAVI processes 72% of all its transactions via non-traditional channels such as POS, ATMs and Internet.

About Trintech

Founded in 1986, Trintech is the world's leading provider of payment software for electronic transactions. The company is co-headquartered in Silicon Valley, Calif. and in Dublin, Ireland, the software capital of Europe. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as leading the world in the deployment of payment solutions for Internet commerce that are fully SSL- and SET-compliant.

Trintech's range of scalable open systems architecture solutions for UNIX(r) and Windows NT platforms covers consumer, merchant and financial institution requirements for physical payments and the burgeoning world of electronic commerce. Trintech has headquarters in Campbell, CA at 2105 South Bascom Avenue, Campbell, CA 95008, USA (Tel: 408/879-1884). Trintech can be reached on the Web at http://www.trintech.com.