ObjectSoft Delivers Electronic Commerce Over Internet to Retail Stores Everywhere
12:03 p.m. Nov 16, 1998 Eastern
HACKENSACK, N.J., Nov. 16 /PRNewswire/ -- ObjectSoft Corporation (Nasdaq: OSFT) is adding a new Internet-supported electronic commerce feature to its recently released FastTake(TM) kiosk, an important step to bring retail stores -- the mainstay of American business -- into the Internet age, ObjectSoft CEO David E.Y. Sarna and Plaza Entertainment CEO Eric Parkinson announced today.
ObjectSoft's FastTake(TM) Video kiosk, developed by ObjectSoft Corp. of Hackensack, and marketed by Plaza Entertainment of California, soon will offer electronic commerce from futuristic walk-up kiosks in stores everywhere.
In addition to previewing up to 500 movie trailers reviews, and searching up to 160,000 titles, consumers will be able to order their favorite titles for drop shipment to their home or workplace.
The patent-pending software also allows for periodic updates to the database, cross promotion between studio and retailer, advertising opportunities, multiple rental promotion, point-of-purchase promotion and demographic targeting.
"In the fall of '97, we introduced e-commerce for municipal transactions on our SmartSigns(TM), installed in New York City," said Sarna.
"Now we're extending to retail stores and supermarkets. We found that an inviting, exciting and natural interface can bring the Internet to the general public, greatly expanding the virtual 'stock' of a retailer, without increasing costs, and increasing a consumer's choice many-fold," Sarna said.
"We're combining the best of retailing with the best of electronic commerce, without the fear factor," said Sarna. In addition to videos, other retailers will want to enable in-store e-commerce for other items currently selling over the Internet, such as soundtracks, books, toys, etc.
Within the last year, Microsoft Corp. (Nasdaq: MSFT) announced the selection of ObjectSoft as the recipient of an award for Best BackOffice Server Suite Solution. The Award recognizes and signifies ObjectSoft's exceptional integration of the Microsoft BackOffice Server family of products for use with the Interactive Public Access Terminals installed in the SmartStreet(TM) and SmartSign(TM) Kiosks that ObjectSoft develops.
"Like their SmartSign, the FastTake kiosk is not only an impressive product, but an excellent idea," said Robert McDowell, Vice President for Enterprise Computing for Microsoft. "It's an excellent use of the new Visual Studio 6.0 development system and makes extensive use of the Visual InterDev(TM) Web development system, ActiveX(R) and Internet technologies, Windows NT(R) NetShow(TM) Services 3.0, Microsoft Message Queue Server, and SMTP.
The electronic commerce marketplace will double in the next six months with major use coming from the financial, wholesale/retail, information technology and manufacturing industries, according to a survey conducted by the Information Technology Association of America (ITAA).
Analysts at Ernst & Young, Forrester Research, and Jupiter Communications have estimated anywhere from $220 million to $1.1 billion in Internet sales during the fourth quarter, depending on the extent businesses succeed at creative marketing followed by speedy product delivery. Estimated retail revenues generated from online shopping worldwide will increase by 784 percent over the next four years, from $4.5 billion by year-end 1998, to $35.3 billion by 2002, according to eMarketer's eCommerce: Retail Shopping Report.
FastTake is expected to ship in volume in the next quarter, and e-commerce capabilities will be added early in the second quarter of 1999.
Installation and field service will be provided by IBM Corporation (NYSE: IBM).
Founded in 1990, ObjectSoft Corporation provides information and services through public access kiosks. The Company's products, FastTake and SmartSign kiosks enable organizations to interact with the general public in high density pedestrian traffic areas. ObjectSoft is a publicly held company listed on Nasdaq. For more information on ObjectSoft, visit their website at http://www.objectsoftcorp.com.
This press release contains certain forward-looking statements concerning ObjectSoft which are subject to a number of known and unknown risks that could cause actual results, performance and achievements to differ materially from those described or implied in the forward-looking statements. Among such risks are those discussed in the Company's Registration Statement on Form SB-2 and its Quarterly Report on Form 10-QSB and include, but are not limited to, limited operating history, recent establishment of new business divisions, dependence on new and untested product, risks related to technological factors and potential manufacturing difficulties.
Video retailers can get additional information about FastTake(TM) from Plaza Entertainment at 888-454-3345.
For investor information, contact The Investor Relations Group, 212-664-8489. SOURCE ObjectSoft Corporation
Copyright 1998, PR Newswire
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