SOURCE: Lightbridge

September 13, 2005 08:30 ET

Authorize.Net, a Service of Lightbridge, Announces Additional eCheck.Net® Enhancements for Merchants and Resellers

BURLINGTON, MA -- (MARKET WIRE) -- September 13, 2005 -- Authorize.Net Corp., a service of Lightbridge, Inc., (NASDAQ: LTBG) today announced the release of new features for eCheck.Net®, an industry-leading, popular electronic check payment service.

eCheck.Net enables Web and mail/telephone order (MOTO) merchants to accept and process electronic check payments directly from their customers' bank accounts. By accepting electronic checks, merchants expand the payment options available to their customers, potentially increasing customer loyalty and revenues. In addition, eCheck.Net can be combined with Authorize.Net's popular Automated Recurring Billing (ARB) product to create a convenient enhancement for subscription-based products and services.

This is the second release of major enhancements for eCheck.Net in the past year and includes benefits for both resellers and merchants.

    Reseller benefits:
--  Ability to configure eCheck.Net sell rates for their entire portfolio
    or by merchant.
--  Lower buy rates provide maximum flexibility to offer special deals.
--  Discounts for high-volume merchants and flat-fee pricing for low-risk
    merchants in the government, utilities, insurance, and higher-education
    industries.
--  Ability to initiate the eCheck.Net setup process from within the
    Authorize.Net Reseller Interface.
    
    Merchant benefits:
--  Improved up-front transaction validation that returns the status of
    transactions faster, enabling merchants to ship product sooner.
--  Additional reporting capabilities to help make merchant reconciliation
    easier.
--  A new streamlined eCheck.Net application speeds up the approval
    process.
    
"According to the NACHA - The Electronic Payments Association, more than 12 billion automated clearing house (ACH) payments were made in 2004, which is a 20 percent increase over 2003," stated Bob Donahue, president and CEO of Lightbridge. "As ACH transactions continue to grow, we expect eCheck.Net to continue to grow in importance for Authorize.Net."

Roy Banks, Authorize.Net president added, "Authorize.Net is constantly researching electronic processing trends in an effort to continually improve our eCheck.Net® service. These new enhancements will facilitate our own ACH growth and will undoubtedly lead to broader adoption of eCheck.Net by both our resellers and merchants."

About Authorize.Net® (www.authorize.net)

Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enables over 124,000 merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, at retail, mail order/telephone order (MOTO) call centers and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers. Authorize.Net is a service of Lightbridge, Inc.

About Lightbridge® (www.lightbridge.com)

Lightbridge, Inc. (NASDAQ: LTBG) is a leading e-commerce, analytics and decisioning company that businesses trust to manage customer transactions. Lightbridge adds value to fraud screening, credit qualification, and payment authorization. Lightbridge solutions leverage intelligent automated systems and human expertise, delivered primarily through the efficiencies and cost savings of an outsourced business model. Businesses use Lightbridge to make smarter decisions, deliver better services, provide secure payments, reduce costs and enhance the lifetime value of their customers. For more information, visit www.lightbridge.com.

AUTHORIZE.NET, ECHECK.NET, LIGHTBRIDGE, and the Lightbridge logo are registered trademarks of Lightbridge Inc. or its subsidiaries. All other marks are the property of their respective owners.

Forward-looking Statements

Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's, products, enhancements, services, markets and growth expectations for eCheck.Net and ACH are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) dependence on a limited number of clients, (ii) the Company's revenue concentration in the wireless telecommunications business and the declining subscriber growth rate in that business, (iii) continuing rapid change in the telecommunications industry and payment processing industries, and other markets in which the company does business that may affect both the company and its clients, (iv) the impact of competitive products, services and pricing on both the company and its products and services, (v) market acceptance of the company's new or enhanced products, services and technologies, (vi) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions or attacks on Authorize.Net's payment system that may impair the operations of its payment system, changes or failures to comply with credit card association rules, governmental regulation and the application of existing laws to Authorize.Net's business and dependence on relationships with a third party payment processors, and (vii) factors disclosed in the company's filings with the U.S. Securities and Exchange Commission including, without limitation, its 2004 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q. The company undertakes no obligation to update any forward-looking statements.

Contact Information

  • Contacts:

    David Schwartz
    Authorize.Net Corp.
    425-586-6039
    Email Contact

    Lynn Ricci
    Lightbridge, Inc.
    781-359-4854
    Email Contact

    Ty Sheppard or
    Valerie Christopherson
    Bock Communications, Inc.
    714-540-1030