First Union Selects ICOMS' E-Commerce Services as One-Stop Solution for Its Commercial Banking Customers

Business Wire, May 24, 1999

NASHUA, N.H.--(BUSINESS WIRE)--May 24, 1999--

Country's Six Largest Banking Institution Offers a Complete E-Commerce

Outsourcing Package as a Value-Add Program That Saves Time and Money

ICOMS (Internet Commerce Services Corp.), the industry's first independent provider of Internet commerce services, and First Union Corp., the nation's sixth largest banking institution today announced that ICOMS was selected to provide full-service e-commerce enabling for First Union's SecureSales e-commerce program.

First Union already has 30 merchants up and running on its SecureSales e-commerce enabling service, which the bank provides as a value-add to its commercial customers conducting online ecommerce. The bank chose ICOMS as a partner in order to expand the SecureSales program to not only offer secure on-line transaction processing, but a host of other services as well. In addition to ICOMS' proven MerchantTrax(tm) service, which provides a high-end, secure, scaleable and reliable 24x7 electronic commerce system, the ICOMS/First Union program also offers extensive support and customer service options to get an organization's e-commerce initiative up and running from design to launch and beyond. The SecureSales outsourcing package not only offers convenience, but a significant cost and time-to-market savings as well.

"First Union has always provided valuable business resources for its commercial and small business customers, and now, through ICOMS, we are going beyond on-line secure e-commerce transaction processing to offer real soup-to-nuts e-commerce services," said Michael Love, vice president, First Union Corp. "ICOMS had the expertise and technology to deliver the kind of complete 'one-stop' program we wanted, and they have a proven, secure system that takes the technical burden off of our customers' shoulders."

"We are very impressed with the approach First Union has taken to provide its commercial and small business banking customers with an e-commerce package," said ICOMS CEO Cliff Conneighton. They are not just offering transaction processing, but are truly capitalizing on all ICOMS can provide from order management to customer service to a Web site content package. Not only does this provide convenience, but it greatly reduces merchants time-to-market and the cost of launching an e-commerce initiative."

The First Union SecureSales E-Commerce Enabling Service

The First Union SecureSales Service is a complete outsourcing program for businesses looking conduct Web commerce. Service features include:

-- Order and payment processing

-- Order fulfillment integration

-- Customer registration and administration

-- Automated tax and shipping processing

-- On-line customer service

-- Professional services

-- Web design assistance

-- Advanced merchandising techniques like digital coupons, custom credits and "Click-n-Buy Banners" banners

Flexible pricing is based on a per transaction monthly charge.

About ICOMS

Internet Commerce Services Corporation (ICOMS) is the first independent provider of Internet commerce transaction services, providing order management and payment processing services to more than 200 companies. The company's MerchantTrax(tm) service enables retail and business-to-business merchants to have the type of high-end, secure, scaleable, and reliable electronic commerce Web site previously available only to those willing to invest millions of dollars in technology, staffing and transaction fees. ICOMS has strategic partnerships with First Data Corporation and Open Market, in addition to channel arrangements with U S WEST, First Union Corp., Web developers and Internet service providers nationwide. ICOMS, which uses Open Market's Transact software, operates its high-availability service center in Nashua, NH, where there are no taxes on the sale of goods or services over the Internet. For further information, visit http://www.icoms.com

About First Union

First Union Corp. (NYSE:FTU) is a leading provider of financial services to more than 16 million retail and corporate customers throughout the East Coast and the nation. First Union is the nation's sixth largest bank holding company, based on assets of $223 billion as of March 31, 1998. The company operates full-service banking offices in twelve states and Washington, D.C.

ICOMS and MerchantTrax are trademarks of Internet Commerce Services Corporation. Other product and company names are the property of their respective owners.