eTelcharge.com to Pre-Launch Version 2.0 Through Downloading of Music at eTelcharge Store on Company's New and Enhanced Website
5 October 2006
eTelcharge.com (OTCBB: ETLC), a diversified merchant services company, today announced that it will pre-launch Version 2.0 of its Alternative Payment System, allowing consumers to charge purchases to their home telephone bill, through the Company's eTelcharge Store, located on the Company's new and enhanced website.
Due to the rapid growth of digital downloading, eTelcharge will allow consumers, for the first time, to download music of independent artists along with those signed to major labels, such as Universal, to their phone bill. This endeavor will also allow many artists crippled by a lack of distribution to create national and international exposure.
Industry sources estimate that the worldwide recorded music market was approximately $32 billion in 2004 and the digital music segment of this market represented approximately 1% in 2004 and it is expected to represent approximately 25% in 2009. The emergence of digital music has created additional outlets such as the purchase of digital music and other sound recordings through mobile phones. Consumers now purchase music in many different formats, including physical formats such as compact disc from traditional music and e-commerce retailers and digital formats through download or subscription services from online music stores.
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Purchase of music in digital format offers many advantages to consumers over compact disc. Online music stores generally offer a larger music selection than traditional music retailers and also offer the ability to sample all of their digital music selections before purchase; are accessible 24-hours every day; offer the ability to purchase digital music as a single instead of an entire album; and enable the purchase of music in an easily portable format.
"We believe that this pre-launch, focusing on the download of music, will be a great catalyst for the full deployment for Version 2.0 of our Alternative Payment System and attract large audiences to eTelcharge, that could, in the future, use our services for a host of purchasing options," stated Carl Sherman, CEO.
About eTelcharge.com
eTelcharge.com (OTCBB: ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure offered by banks, as well as the proprietary new online currency that will provide online shoppers the exclusive choice to charge approved transactions to their telephone bill. Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge consumer transactions on the Internet. This payment option is a perfect match for the millions of individuals who do not own a credit card. eTelcharge.com started as the only company with the ability to charge a variety of products to the home phone bill. Clearly, past electronic commerce solutions have not employed effective security and privacy techniques that adequately address consumer concerns about privacy and security on the Internet today. The release of the latest version of the proprietary phone billing option is scheduled to be launched soon. For more information, go to http://www.eTelcharge.com.
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements involve a number of known and unknown risks and uncertainties that may cause eTelcharge.com, Inc. and actual results or outcomes to be materially different from those anticipated and discussed herein. These include its historical lack of profitability, limited working capital, the need for additional capital, end-use customers' acceptance of new products and actual demand, the need for eTelcharge.com, Inc. to manage its growth, and other risks associated.
Investor Contact: Cynthia DeMonte DeMonte Associates 718-706-5005 cdemonte@demonte.com cdemonte@aol.com
SOURCE: eTelcharge.com, Inc.
Source: marketwire
All trademarks and copyrighted information contained herein are the property of their respective owners.
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