TRADECARD LAUNCHES FINANCIAL SUPPLY CHAIN PLATFORM
Full range of flexible payment services allows settlement of B2B domestic and international transactions on a single platform

New York, March 15, 2001 - TradeCard, Inc. today announced it has expanded its cross-border payment service, which has been used to settle international transactions since 1999 by some of the world's largest companies. TradeCard will now offer a single platform hosting a full suite of financial settlement products that will enable buyers and sellers to track and settle virtually any type of domestic or international financial transaction in an automated, collaborative environment.

The TradeCard platform suite of payment products is being offered to e-marketplaces, corporates and financial institutions. These organizations can customize the TradeCard offerings by determining transaction types to be used, setting transaction prices, and adding specific branding options. In addition, they will be able to draw on TradeCard's network of alliance partners, who provide important transaction supporting services such as trade financing, credit assurance, money movement, logistics, cargo insurance and inspection.

"By further leveraging our network of partners and our patented technology, we can automate the processing of virtually any payment transaction, whether it is domestic or international, guaranteed or open account, large or small dollar," said Kurt Cavano, Chairman and CEO of TradeCard, Inc. "Online payment is not a 'one size fits all' business, so we built a platform that provides a wide range of flexibility for the users."

The TradeCard suite of payment products is designed to specifically meet the financial supply chain needs of businesses seeking 'frictionless' supply chain solutions. TradeCard anticipates announcing significant platform partnerships in the coming weeks.

The financial supply chain parallels the physical supply chain, and closely follows the buyer's transaction activities relating to cash flow that start with a purchase order and end in settlement with the seller. Integration of the financial supply chain with the current procurement and fulfillment processes has become a critical element of buying and selling online. Significant accounts payable and accounts receivable process improvements can be achieved through integration with the financial supply chain such as cash forecasting, real- time transaction management, and receivables and payables reconciliation.

Paperless, payment-guaranteed international trade transactions are widely considered the most difficult B2B transactions to conduct. The TradeCard system was initially built to accommodate this complex, cross-border payment type and has been successfully processing them since November 1999. According to Cavano, the company "tackled the toughest transaction type first," so it can now rapidly deploy this new suite of services which utilize its workflow engine; its patented, intelligent data compliance technology, and leverages its alliance network of trade service providers to offer greater online trade transaction options.

How TradeCard Works
TradeCard provides a range of financial settlement options supporting both international and domestic trade transactions. These choices are designed to meet customers' needs with respect to transaction procurement, fulfillment, risk mitigation, payment decision-making and settlement. In addition, TradeCard provides the benefit of a patented data compliance engine, assurances of payment, money movement and access to logistics, inspection, insurance and financing services.

The following transaction options can be initiated by logging onto TradeCard's global commerce site, through an access point such as a TradeCard-integrated marketplace, or through a company's ERP system that is mapped to TradeCard:

Auto-Approved Payment
This type of transaction begins when the buyer creates a purchase order and negotiates terms with the seller. In addition, to standard terms, such as quantity and price, buyer and seller agree upon the extent of electronic data compliance to occur and options such as assurance of payment. Payment is triggered and the transactions are automatically settled when TradeCard's patented data compliance engine establishes a match at the agreed-upon level between shipping data and original purchase order data. If there is not a match, the discrepancy is identified so the buyer and seller can resolve the issue, after which payment is triggered.

Buyer Approved Payment
Buyer Approved Payment is quite similar to the auto-approved payment option, but it is designed to allow buyers to make the final determination of when to pay. TradeCard's patented data compliance engine establishes a match at the agreed-upon level between shipping data and original purchase order data, and queues the payment to the buyer for final approval. The buyer then decides how much and when to pay, much the same way current open account processes function.

Invoice Presentment
Designed to automate standing orders, this transaction type allows the seller to submit an invoice to the buyer directly through any one of the various TradeCard access points. Once in receipt of the invoice, the buyer can select how much and when to pay.

About TradeCard
TradeCard is a financial supply chain service provider. TradeCard's secure transaction infrastructure greatly reduces the inefficiencies and uncertainties found in traditional domestic and international trade transaction processes. By streamlining and enhancing the steps necessary for purchase order approvals, payment decisions and settlement, TradeCard provides a cost-effective, practical and patented service for financial supply chain management. TradeCard, Inc. is headquartered in New York City with offices in San Francisco, San Diego, Chicago, Hong Kong, Taipei, Seoul and London. TradeCard can be found on the World Wide Web at http://www.tradecard.com.

*****