Etelcharge.com (OTC BB:ETLC.OB), the new online way to pay, announced today it has signed a Letter of Intent with enStage, of Cupertino, CA, to launch a program whereby an Etelcharge member can join a digital service providing them with a "digital prepaid card" that can be used to purchase from any online merchant accepting Visa or MasterCard anywhere in the world.
This Letter of Intent represents Etelcharge's entry into an $8 billion industry that is growing exponentially.
"Providing this digital service could quickly result in millions in revenue for both companies," said Rob Howe, Chairman and CEO of Etelcharge. "Etelcharge members will gain immediate access to every online merchant in the Visa and Master Card network when they join this highly advanced digital service. Upon the launch of this service, our members will possess the ability to shop at merchants like Amazon, Buy.com, NetFlix, Kodak, immediately. This is a huge and exciting breakthrough with enormous potential."
"enStage enables companies to reach large consumer segments that were served in the past by cash, checks, vouchers, or some other 'pay before' mechanism," said Govind Setlur, CEO of enStage. "We see Etelcharge as the perfect partner to develop this service with us."
"enStage is an international company with extensive experience delivering banking systems and payment products to financial institutions and corporations. They are the perfect technology complement for us," Howe added. "They have the experience, the contacts and the technology to offer this exciting opportunity to our members. This is the type of persistent, long-term value Etelcharge is bringing to our members with our Web 2.0 framework and represents just the tip of the iceberg of the number of offerings Etelcharge is planning," he concluded.