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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. 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.

Of course, if there was indeed 25 global internet patents, and I missed that part in going, and when going through the documentation, then I'm "liable" to "justifiably," not unjustly, 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 believe it's vaporware, I just think it's "no-where" 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!