|The mass launch of a new online payment service called eCashPad is planned to meet the needs of online gamblers blocked by banks and credit card companies.|
ECashPad is a revolutionary home hardware device that will enable players to swipe cash payments to Internet casinos. It costs £19.99.
Users of the system will be able to either use a prepaid card or an eCheck loaded eCashCard.
Prepaid and eCheck loaded cards will be sold at a planned 1,000 eCashPads, at walk-in locations in major cities.
The service will also enable Internet casino customers to move their winnings to a private label debit card for use outside of the Internet.
ECashPad will interface with ICasino Pay software.
eConnect who owns the eCashPads has begun an ongoing stock repurchase program. The repurchased shares may be used by the company for general corporate purposes, or may be retired to Treasury. The company's current strong financial position allows the implementation of the repurchase program without adversely impacting internal investment, implementation, and growth plans.