Best Internet Announces Support for CyberCoin Electronic Commerce Micropayment System; New Product Offers Low-Cost, High-Value Products Using Fast, Convenient Payment System.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Nov. 20, 1996--Best Internet Communications, the world's leading host of Web sites, today announced its support for CyberCoin, the electronic commerce micropayment An electronic commerce transaction of very low value. It may refer to charging just a few cents or even a fraction of a cent for a transaction such as an information lookup. It may also refer to aggregating several small-value purchases and charging a credit card at the end of the day or solution from CyberCash, Inc. With this new functionality, merchants hosting electronic commerce store fronts with Best Internet can easily process purchases of less than $10 in a secure and cost-effective manner. "Merchants can now sell low-cost electronic goods instantaneously with an easy-to-use, automatic payment option for their customers," said Christina Kish, Director of Marketing at Best Internet. "This new product offering gives our merchants more payment choices, allowing them to work with transaction methods that best fit their business. "With almost one million CyberCash Wallets already in circulation, merchants can reach larger numbers of potential customers, and open up another distribution channel for new or existing goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . Adding CyberCoin to our existing CyberCash Internet payment system gives merchants a well-rounded electronic commerce solution." CyberCoin is targeted to businesses receiving low-cost transactions of typically from $0.25 to $10. Companies selling clip art A set of canned images used to illustrate word processing and desktop publishing documents. , photography, music, software games, screen savers Screen Savers may refer to:
"Many merchants would like to use CyberCoin but do not have the in-house expertise to deploy and maintain an electronic commerce storefront," said Teresa Crummett, Director of Corporate Marketing for CyberCash. "Best Internet's Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. is a reliable cost-effective way for these merchants to sell a variety of electronic products and unbundle To sell components in a system separately. Contrast with bundle. existing product offerings." To make a purchase with CyberCoin, consumers can use CyberCash Wallet software, which is available free from the CyberCash Web site at http://www.cybercash.com. Once goods are digitally delivered, money is automatically transferred from the user's CyberCoin account, much like a direct withdrawal, to the merchant's account at the participating bank. The Wallet keeps track of all transactions, and users and merchants continue their existing bank relationships. "CyberCoin allows our customers flexibility in their payment method," noted Kip kip 1 n. pl. kip See Table at currency. [Thai.] kip 2 n. 1. Rano, president of American Photo, a Best Internet customer and CyberCoin user that distributes photography. The American Photo Web site, at http://www.american-photo.com, allows browsers to view thumbnails before accessing the actual photo. "The cost of our photos ranges from $0.25 to $5 for use in one personal Web home page, and memberships to our site ranges from $2 to $25," continued Rano. "With CyberCoin, our customers can make quick, convenient purchases without re-entering long codes or credit card numbers. With the addition of CyberCoin to our payment options, we expect an increasing number of our customers to take advantage of Web-based transactions." ABOUT BEST COMMERCE SERVER SERVICE CyberCoin is an added option to the Best Business Commerce Server. The Best Business Commerce Server offers a merchant ready, secure solution for electronic commerce. This service provides a comprehensive, end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. to meet the growing need of merchants looking to conduct business on the Internet. It is composed of a full-featured Web hosting package including the Netscape Secure Commerce Server and the CyberCash Secure Internet Payment Service See Web payment service. . While other ISPs may provide secure on-line transactions by supporting SSL (Secure Sockets Layer) The leading security protocol on the Internet. Developed by Netscape, SSL is widely used to do two things: to validate the identity of a Web site and to create an encrypted connection for sending credit card and other personal data. (Secure Socket Layer), only Best Internet combines a full-featured Web hosting package with SSL compliance and automatic, secure credit card transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. with CyberCash. The Best Business Commerce Server saves merchants time in recording and verifying credit card information and gives merchants extended electronic commerce functionality and full end-to-end transaction processing. PRICING AND AVAILABILITY Best Internet will make CyberCoin commercially available to its clients on Dec. 1, 1996. For online merchants wanting to sign up for the service through Best Internet immediately, Best Internet will waive the CyberCoin activation fee through Dec. 1, 1996. For further details on pricing and services, go to Best Internet's Web site at http://www.best.com. ABOUT BEST INTERNET Best Internet Communications, Inc., the world's leading host of Web sites, provides a comprehensive range of innovative Internet services, including merchant-ready Commerce Server hosting, basic Web FTP FTP in full file transfer protocol Internet protocol that allows a computer to send files to or receive files from another computer. Like many Internet resources, FTP works by means of a client-server architecture; the user runs client software to connect to hosting, Internet domain name An organization's unique name on the Internet. The chosen name combined with a top level domain (TLD), such as .com or .org, also called a "domain extension," makes up the Internet domain name. For example, computerlanguage.com is the domain name for the publisher of this Encyclopedia. registration, and Web server co-location. The company also provides dial-up and dedicated Internet connectivity for professionals, small businesses, and large corporations. Best Internet has established strategic relationships with a number of leading companies, including Microsoft, Netscape, and CyberCash. Best Internet can be found on the Internet at http://www.best.com. CONTACT: Best Internet Communications Christina Kish, 415/944-8215 kish@best.com or Dave & Bairey Communications Peter Dave, 415/882-9905 peter@dbcomm.com |
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