AmeriNet To Provide Electronic Check Processing for iFarm.com.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--July 11, 2001 Farmers Won't Have to Use Credit Cards for Higher Priced Items and Can Receive Electronic Check Payments for Crop and Livestock Sales AmeriNet, Inc., which has done over 5 million Internet electronic transactions since 1999, today announced it will begin providing check processing services for iFarm, Inc., a leading B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business agricultural e-commerce site. iFarm is a comprehensive Internet portal for farmers that offers content, community and e-commerce services, which encompass the complete range of farm supply products, services and crop livestock marketing. AmeriNet's unique and proprietary electronic transaction system, called Debit-it, will offer iFarm.com customers secure, on-line checking account debit and credit transactions that makes their on-line purchases or other transactions as easy as paying with a credit card. Debit-it also means less cost for iFarm and less time processing electronic transactions. "We look forward to providing iFarm customers with a convenient and secure payment option without credit cards," said Pat Dane, Executive Vice President of Sales and Marketing for AmeriNet. "Debit-it will be particularly attractive to farmers who don't want to put higher cost items on their credit cards." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Chris Long Chris Long is the name of the following:
1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. . "We are the first agricultural e-commerce service to utilize on-line check acceptance," he said. "Until this time, farmers have only been able to purchase items that do not exceed the limits of their credit cards. Many farmers can greatly exceed these limits, with the purchase of seed, lubricants lubricants preparations for the lubrication of passages to reduce frictional injury, e.g. oily preparations, including petroleum jelly, lanolin or water-soluble preparations such as methyl cellulose. , tools or parts. Consequently, it facilitates the purchase of higher dollar items normally not purchased with credit cards. It also gives the farmer more options and a lower cost method of payment," he said. The AmeriNet products will also expand iFarm's transaction platform for B2B commerce because of the ability to make electronic payments to customer and alliance partner accounts. The application of this technology for B2B commerce is huge because of the large transactional and administrative cost administrative cost Managed care A cost incurred by the 'business' end of a health care facility or university–eg, staffing and personnel costs, nursing home and hospital administration, insurance, and overhead expenses. Cf Indirect costs. savings. "Farmers will be able to receive electronic settlement payments for crop and livestock sales through the use of this service, and we will also be able to electronically settle with our alliance partners as soon as a transaction occurs," said Long. Features of Debit-it include a user interface that mirrors a credit card transaction; real time and batch processing (1) Performing a particular operation automatically on a group of files all at once rather than manually opening, editing and saving one file at a time. For example, graphics software that converts a selection of images from one format to another would be a batch processing utility. of checks; an AmeriNet parsing See parse. parsing - parser engine that eliminates 8-10% of errors up front; fraud screening built into the check processing system; processing of web and phone orders; paperless transactions; custom reporting, and a transaction server that integrates quickly. About AmeriNet, Inc. AmeriNet, Inc., founded in 1994, has an established history of providing checking account debit transactions over the phone and the Internet. AmeriNet's proprietary system, called Debit-it(tm), makes purchases as easy as a credit card payment, which gives customers without credit cards or those concerned with security a convenient and easy-to-use option that is very similar to credit card transactions. Debit-it has processed over 5 million transactions via the Internet the past two years. For merchants, debit-it is cost-effective with credit card transaction fees and helps add and retain customers. Debit-it is the exclusive check processor for the Electronic Retailers Assoc and West Teleservices, Inc. (the largest U.S. Call center www.West.com). It's the leader in the DRTV DRTV Direct Response Television (media) industry for paperless debit transactions and supplied NACHA NACHA National Automated Clearing House Association NACHA National Agency Clearing House Association (www.NACHA.org) with open source code for merchants use of "debit devices." Its Web site is www.debit-it.com iFarm, Inc. Headquartered in Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. , iFarm is committed to enabling members to profit from participation in the emerging global B2B commerce market through a comprehensive agricultural focused Internet portal. Major sections of iFarm are: iFarmMarket, iFarmSupply, iFarmOffice, MyiFarm and Agricultural News Service. You may visit the iFarm web site at www.iFarm.com. |
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