(2005-01-14)
Nettel Holdings Inc. (OTC BB: NTTL), Berlin and Frankfurt Stock Exchanges (NT7, WKN 727487), launches a proprietary fully automatic purchasing system for the VoIP industry.
This system, VoipEscrow.net, is the first of its kind for the industry. We feel that VoipEscrow.net provides a safe, secure and automated platform for buyers and sellers to conduct business. VoipEscrow.net acts as a middle-man, protecting and assuring the buyer of receiving the exact minutes he has ordered. In turn, we protect the seller by ensuring the money is available to him immediately for the exact amount of minutes he has sold. One of the unique features of using VoipEscrow.net is that the entire escrow transaction can be started and completed in 30 minutes by both parties without using the help of our personnel.
The traditional escrow process, or Letter of Credit, could take 7-14 days to start a transaction, with additional costs and headaches if the buyer doesn't use all the minutes they purchased. With VoipEscrow.net, the buyer can deposit funds into their account via credit card, PayPal, direct deposit from a checking account, or wire transfer.
Existing escrow processes require a separate transaction for each country. With the help of VoipEscrow.net, the buyer will be able to process multiple destinations with one transaction. This will enable Nettel to quickly implement the large backlog of orders for minutes that exist and the new orders expected.
According to Johnathan Lee, president of Canitsp Inc., a Vancouver, B.C.-based company, "We have been using the beta version of VoipEscrow.net over the past month and are very impressed at the convenience of the system, not just the cost savings. In the past, we have ignored pursuing many smaller profitable transactions because the existing escrow or LC process is too time consuming and costly. VoipEscrow.net is the only company now on the market that will allow us and our customers to initiate and complete the entire transaction without having to go through a manual process involving customer service."
According to Michael Nguyen, CEO of Nettel Holdings, "We created VoipEscrow.net due to our frustration from the buying and selling of telecommunication minutes over the past year. With the help of a team of 14 programmers and technical engineers, we have been working on the development and implementation of the VoipEscrow.net system for more than 6 months to complement our AVOP system. It has been a goal of ours to meet the demands of our customers, and now we are very proud to offer this helpful system to those involved in the telecom business. We have already received many comments of appreciation that something they wanted most is now real, and available for their benefit."
VoipEscrow.net will change and revolutionize the way wholesale minutes are bought and sold, much in the way the internet changed the way stocks are now bought and sold online rather than manually going through a stock broker.
For more details or additional information on VoipEscrow.net, please visit our website at http://www.voipescrow.net.
Safe Harbor:
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital, and effectively compete against similar companies.
Contact:
Sam Brewer
Telephone: 503-222-6018
SOURCE: Nettel Holdings, Inc.
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