Orbis Development, Inc.  (OTCBB: ORBD)

Editors Note: 

Despite the dot-com crash of 2000 and the demise of many once-notable Internet companies, the fact is that the frequency of electronic and Internet-based payments is at an all-time high.  More products and services than ever before are being paid for via electronic transactions.  Orbis is a cutting-edge electronic payment solutions company that enables digital payments made through the Internet or with traditional merchants. 
 

Orbis' technology, software and know-howis in the peer group of such digital payment processing companies as PayPal (Nasdaq: PYPL) and others.   Orbis Development, Inc. (OTCBB: ORBD) enables digital payments (generally payments made electronically through Internet and traditional merchants).  But Orbis has also entered the lucrative niche market of pari-mutuel wagering (off-track betting - OTB) with the industry's first pari-mutuel wagering system, taking advantage of recent changes in the law. 
 

*** B R E A K I N G  N E W S ***

4/16/2002 4:07:00 PM

ZEPHYR COVE, Nev., Apr 16, 2002 (BUSINESS WIRE) -- Orbis Development, Inc. (OTCBB:ORBD) ("the Company" or "Orbis") announced today it has completed agreements to add an ATM product to its available payment solutions. Orbis in co-operation with a strategic technology partner, Virtual Money, Inc. of Fort Worth, Texas, announced they have reached an agreement to market an e-commerce and point of sale ATM-like product. This new feature is a stored-value, bank-less ATM card that is fully useable wherever ATM cards are accepted, including e-commerce sites enabled by our interface. With this addition to its payment solutions business in place, Orbis expects it will be able to simplify the on-line payment experience for consumers and merchants. 

For example, the card permits consumers to have the convenience of an ATM card without the requirement that it be tied to a personal bank account. The card features the security of a PIN making it possible to more effectively control fraud. Additionally, the card is fully rechargeable, making it more practical for ongoing use. Finally, Orbis expects this added option to its payment solution will provide a streamlined processing experience for merchants by consolidating multiple payment types into a single interface. Now Orbis' payment solution can be seamlessly integrated into the checkout process at a merchant's web site, lifting e-commerce payment constraints by enabling consumers to use alternative payment types.

James Egide, Chief Executive Officer stated, "The advent of the Internet and advances in personal computing are making it increasingly convenient for merchants to process payment transactions through flexible, inexpensive payment solutions on personal computers or personal computer-based electronic cash registers. We intend to initiate marketing a full suite of payment solution options globally and to rapidly develop this opportunity by distinguishing the breath of our payment solution options. To expand our customer referral base, we intend to leverage the many existing relationships established by our sales and marketing team."

Founded in 1997, Orbis is an Independent Service Organization and a provider of payment solutions options to merchant customers of domestic and international banks, generating revenues from electronic transaction processing services provided for merchants referred to those banks. Additionally, Orbis intends to deploy, market, and provide a full suite of state-of-the-art payment solution applications. Finally, Orbis through its subsidiary WWWGlobal Interamericana, Ltd will provide on-line pari-mutuel racing through Global Pari-mutuel Network.

This press release contains forward-looking statements that involve risks and uncertainties described from time to time in the registration statement and reports filed with the Securities and Exchange Commission by Orbis.

Orbis Development, Inc. provides a superior suite of payment solutions for Internet-based as well as traditional merchants.  The company is also finalizing arrangements to deploy, market, and provide a full suite of state-of-the-art payment solution applications, including credit cards, debit cards, online checks and prepaid ATM debit cards, for worldwide Internet-based and traditional businesses. The company operates http://www.ondemandfunds.com that provides consumers with an ATM card that that can be used over the Internet and at their favorite automated teller. The card, powered by our Strategic Partner Virtual Money, has several powerful features that set it apart from traditional ATM cards and Internet payment systems currently available.  The ATM card will be branded with the On Demand Funds logo. 

In addition to domestic and international transaction processing, Orbis has launched the industry's first pari-mutuel wagering system taking advantage of recent changes in the law.  Orbis’ pari-mutuel system is run by its wholly owned subsidiary, Global Interamericana, Ltd. Orbis, through its subsidiary Global, will provide on-line pari-mutuel racing (off-track betting on horse races) through Global Pari-mutuel Network.  This added venue, when coupled with the current $17 billion interstate pari-mutuel wagering industry, makes the 'Sport of Kings' available to a diverse fan base, increasing on-track pools and creating a new avenue of distribution for U.S. racetracks.
 

*** CONTACT ***

Safe Harbor Statement: Statements contained in this document, including those pertaining to estimates and related plans other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. 

Disclaimer: StockUpTicks.com is a property of Market Pathways Financial Relations Incorporated (MP).  The information, opinions and analysis contained herein are based on sources believed to be reliable but no representation, expressed or implied, is made as to its accuracy, completeness or correctness.  This report is for information purposes only and should not be used as the basis for any investment decision. MP has received 17,300 shares of ORBD as compensation for distribution of this report and other advertising services from SovCap Advisors Inc.  This constitutes a conflict of interest as to MP’s ability to remain objective in its communication regarding the subject company.  Write or call MP for detailed disclosure as required by Rule 17b of the Securities Act of 1933/1934.  MP is not an investment advisor and this report is not investment advice.  This information is neither a solicitation to buy nor an offer to sell securities.  Information contained herein contains forward-looking statements and is subject to significant risks and uncertainties, which will affect the results.  The opinions contained herein reflect our current judgment and are subject to change without notice. MP and/or its affiliates, associates and employees from time to time may have either a long or short position in securities mentioned.  Information contained herein may not be reproduced in whole or in part without the express written consent of Market Pathways Financial Relations Incorporated.