PenOp Software Turns Handheld Organizers Into Online Signing Devices
NEW YORK — August 9, 1999 — PenOp, a global leader in handwritten digital signature software for e-business, today announced the PenOp(R) PocketSign(TM) application, the first electronic handwritten signature application for the three million owners of Palm Computing(R) handheld devices and IBM(R) WorkPad(TM) organizers. PenOp PocketSign(TM) software allows users to sign e-commerce transactions on their PC using their handheld organizer to capture a secure handwritten signature. Available in September, PenOp PocketSign software will be offered at no charge to handheld owners who pre- register now at www.penop.com .
Users who download the PenOp PocketSign software to their Palm Computing device will be able to electronically execute e-commerce transactions that are legally binding. PocketSign software is the first step to giving handheld users the power to use their handwritten signature to open brokerage accounts, sign contracts and submit applications via the web, eliminating the delays and costs of moving paper forms through the printer, fax and mail room. room.
"PenOp PocketSign is the kind of application that makes your handheld organizer an indispensable tool even when it would otherwise be idle in the cradle on your desk," commented Bill Dyszel, author of PalmPilot for Dummies. "PenOp has met the legal and technical requirements for electronic signatures and made it intuitive to sign electronically. Why would the owner of a Palm Computing device ever again want to print out a document just to sign it in ink?"
"Recent legislation confirms that proper electronic signatures are the legal equivalent of handwritten signatures on paper," said Howard Schechter, CEO of PenOp. "In fact, E-signature laws, such as S.B. 1124 enacted last week in California for the brokerage industry, mean that brokerage firms such as Charles Schwab & Co., E-Trade and DLJ Direct will move rapidly to entirely electronic processes," he added.
The PenOp executive believes smart enterprises hosting e-commerce sites will instantly establish a binding relationship with an online consumer by eliminating the traditional delays associated with paper applications. For example, a mortgage company can lock in a rate based on an electronically signed customer application; an insurance company can secure commitment on a policy before the e-shopper moves on to the next site.
"Insurance companies such as American General Life & Accident Insurance are already using our signature technology with handheld computers operated by 7,000 field sales agents," explained Mr. Schechter, "and they are eliminating paper originals by having customers sign forms electronically."
Companies that want to equip their sales and marketing force with handheld organizers for managing contacts and e-mail, can now include signature capture capabilities. This eliminates the need for anyone to carry paper forms or be constrained by the availability of printers and fax machines just to capture a required signature on paper.
"The Palm Computing platform is a flexible, versatile foundation for building value-added applications and PenOp PocketSign software will appeal to our Palm users who are seeking enterprise and e-commerce transaction solutions," said Gabriel Acosta-Lopez, director of platform development services for Palm Computing, Inc., a 3Com company. "PenOp's electronic signature software takes advantage of the portability and connectivity of Palm devices to provide a time- and resource-saving solution."
PenOp PocketSign for the Palm Computing platform is the latest addition to PenOp Signature Series family of products that make it easy to sign any web form or electronic document with a secure handwritten signature. Extending PenOp electronic signature software to the Palm OS eliminates the need for handheld users to invest in additional pen-based hardware just for signature capture.
PenOp software uses secure biometric and digital signature technology to authenticate all signatories, confirm their intent, and provide the audit trail required for a legally effective transaction over any network. The software works side-by-side and tightly integrated with standard encryption and security schemes. By linking electronic signatures with vital transaction data, PenOp technology provides a verifiable audit trail that eliminates an enterprise's paper costs due to signature collection. PenOp offers the industry's broadest choice of electronic signature solutions including components for Palm Computing and Microsoft platforms and add-ins for the most popular application software.
The PenOp PocketSign software is priced at $39 and comes bundled with PenOp Personal software, a signature add-in for signing Microsoft(R) Word documents on a PC. However, PenOp is offering the complete package at no charge to currently licensed owners of devices built on the Palm OS(TM) who pre-register before September 20, 1999, at www.penop.com . PocketSign software is scheduled for availability in late September with support for devices running Palm OS 3.0 or later.
About PenOp
PenOp ( www.penop.com ) is the global leader in legally binding electronic signature technology for e-business. With PenOp(R) Signature Series software, on-line users and mobile professionals can legally sign and secure electronic forms information over any network with the handwritten signature of customers, business partners and employees. Hundreds of businesses and government agencies have achieved paperless processes using PenOp products to seal a contract, open a new account or sign a receipt without paper. PenOp solutions are deployed in over 30 countries as part of e-commerce, forms management and workflow applications by major commercial and government organizations.
PenOp is a registered trademark of PenOp Ltd. Palm Computing is a registered trademark and Palm, PalmOS are trademarks of Palm Computing, Inc. or 3Com Corporation. All other products or company names mentioned are used for identification purposes only, and may be trademarks or registered trademarks of their respective owners.
SOURCE: PenOp, Inc.
CONTACT:
Kirk LeCompte of PenOp, Inc., 212-997-8800, or kirk@penop.com ;
or
Janet Maizner of Edelman Public Relations, 305-358-9500, or janet_maizner@edelman.com