Internet-Based
Payment Processing Service
Emerges As Preferred Next-Generation
Solution
PaymentNet’s multi-payment gateway
delivers a major boost in business process
efficiency for all members of the payment
processing
infrastructure
Pleasanton, CA. - July 27, 1998 -
PaymentNet (previously Segue Systems) (www.paymentnet.com), an established
vendor in the wide open market for electronic
payment processing over the Internet, today
announced general availability of its automated
payment processing service.
The PaymentNet Service is
the industry's only single-source, automated,
multi-payment, secure gateway that provides
real-time processing services for multiple
payment media: credit cards, purchase cards,
electronic checks and others. The multi-payment
gateway supports critical business requirements
facing Internet merchants including recurring
billing, installment payments, delayed product
shipment and immediate softgoods delivery.
The PaymentNet Service has
been deployed across a range of merchant
customers (listed below) with excellent results,
and has proved its value to key payment
processing, banking, ISP/distribution and
technology partners. It represents a powerful
alternative for merchants who have been
disappointed by slow, cumbersome, inefficient
and costly Internet-based payment processing
solutions that have their architectural and
feature origins in the "pioneering"
era of Internet payment technologies.
Key Relationships in
Place
PaymentNet's service is
production-quality and already broadly deployed.
It has proved compelling enough to enroll key
players across the spectrum of the payment
processing infrastructure and to attract a range
of large, leading-edge merchant customers.
Following is a partial list of early PaymentNet
customers and business partners:
- Banking/Processing
Partners: First Data Corp. (the leader in credit
card processing), Wells Fargo, Unified Merchant
Services (a Nation's Bank/First Data Corp
alliance partnership), and Cardservices
International (others in process).
- Customers: Network
Solutions, Value America, Virtual
Vineyards, Landmark Community
Interests, DocuSearch, KLM Dutch
Airlines, AtYourOffice.com, Hygrade Food
Products (division of Sara Lee), Certified
Email, Fantasy Sports Properties, Inc., and
American Heart Association.
- ISP Providers: Anaserve,
Best Internet, Netcom, The Big Net, Catholic
Online, Catholic Telecom, First Internet,
Interport Communications, LexiConn, Mindspring,
Pair Networks, VikingNet, WebServe, and
Webvisions.
- Shopping Carts: Open Market
ShopSite and Mercantec Softcart (others in
process).
The PaymentNet
Advantage
The PaymentNet system is
based on a client/server architecture, and is
deployed using a true thin client binary
executable. PaymentNet leverages the Internet as
a virtual private network between its
proprietary payment processing server and
individual clients dispersed on Internet and
Intranet locations.
According to benchmarks
conducted by PaymentNet customers, merchants
using the PaymentNet service get lower cost of
service and orders-of-magnitude faster
processing speeds (benchmark specifics available
from PaymentNet). They also get advanced
services like delayed transaction settlement for
delayed product fulfillment, secure credit card
number storage, and a range of highly automated
account management, processing and reporting
functions.
Network Solutions, Inc.
(NSI), supplier of all Internet domain names,
and an early PaymentNet customer, processes all
of its Internet transactions using the
PaymentNet service. "Critical to the
success of our Internet-based activity is
throughput capacity, system performance,
processing response time and system integrity
and reliability," stated Scott Williamson,
Vice President Product Development, NSI.
"PaymentNet's service and the attention to
details exhibited by their organization has made
this program a success for our customers."
PaymentNet Service
Details
By visiting the PaymentNet
Web site and subscribing to one of PaymentNet's
annual service plans, based on transaction
volume, any merchant - large or small,
ISP-hosted or self-hosted -- can quickly and
cost effectively start accepting payment for
products and services over the Internet.
The PaymentNet solution is
enabled through its thin client (a binary
executable of less than 100kb), which is
integrated to the merchant's web store using CGI
scripts, or via an application programming
interface. The information and effort required
to integrate PaymentNet is minimal and is
primarily related to transaction authorization.
The PaymentNet service
includes back-end account management to assist
merchants with their business operations. Each
merchant is provided with secure, private access
to a transaction management site that provides:
a desktop virtual terminal, daily transaction
reports, credit authorizations, delayed
settlement for traditional packaged goods
compliance rules with VISA and MasterCard,
partial order settlement management, and overall
account details.
For large merchants with
sophisticated established payment processing
systems, PaymentNet offers custom system
integration services. For small merchants
hosting their Web stores with Internet Service
Providers, PaymentNet offers simplified
storefront integration programs.
About
PaymentNet
PaymentNet, Inc. is a
provider of highly automated, Internet-based,
real-time payment processing services for
merchants of all sizes and business approaches.
PaymentNet is headquartered in Pleasanton,
California, and can be found on the Web at www.paymentnet.com. Contact PaymentNet
corporate offices at 925/225-1670.
###
PaymentNet is a trademark
of PaymentNet, Inc. All other trademarks are
property of their respective owners.
Contact:
Scott
Collison
PaymentNet, Inc.
(925)
598-1106
scollison@paymentnet.com |
