CyberCash and First Data Make It Easier Than Ever for Merchants to Accept Internet Payments.Business Editors/Hi-Tech Writers RESTON Reston, uninc. city (1990 pop. 48,556), Fairfax co., N Va., a planned community established in 1961. A suburb of Washington, D.C., Reston is organized in a series of residential villages and commercial areas. , Va. and ATLANTA--(BUSINESS WIRE)--March 21, 2000 CyberCash and First Data Ease the Way for Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Businesses to Obtain Merchant Accounts and Payment Processing CyberCash, Inc. (Nasdaq:CYCH), a pioneer in Internet payment software and services, and First Data Corp. (NYSE NYSE See: New York Stock Exchange :FDC FDC - Floppy Disk Controller ), the leader in electronic commerce and payment services, have joined forces to make it easier than ever for Internet businesses to obtain merchant accounts and payment processing services. The companies announced that First Data's patent-pending technology, VirtualApp, has been integrated into CyberCash's Internet payment service See Web payment service. , CashRegister. This integrated solution will enable Internet merchants to apply for merchant accounts online, receive a response within minutes and begin processing payments. VirtualApp is the industry's first paperless, click-through process helping businesses securely establish merchant accounts, receive online credit decisions from acquiring financial institutions and accept electronic payments. This integrated service is currently available from CyberCash. Merchants can obtain more information by visiting www.cybercash.com/solutions/firstdata.html or by calling 800/666-5777. "Every Internet business needs a merchant account and payment processing service to generate revenue on the Web. Through this relationship with FDC, CyberCash now offers a full and complete solution to Internet merchants," said Charles Gold, vice president for product management at CyberCash. "First Data is committed to continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. enhancing its position as the leader in integrated electronic payment processing," said Bill Goldschein, senior vice president, First Data Internet Commerce Group. "This agreement enables us to help online businesses engage the power of the Internet as an alternative distribution channel with a secure, streamlined and efficient process." First Data will provide payment-processing services, including authorization The right or permission to use a system resource; the process of granting access. See access control. , data capture, processing, settlement and online statement reporting to Internet merchants using the CyberCash CashRegister offering and the First Data VirtualApp product. First Data moves more than $1 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. annually on behalf of financial institutions, merchants and consumers worldwide. The leading payment processor for e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. , First Data currently supports more than 80,000 online merchants. CyberCash responds to the three things Internet merchants say they need most in a payment service - reliability, security and simplicity. CyberCash provides services to more than 20,000 online merchants, including some of the most well known sites on the Internet. Last year, the company's Internet payment service, CashRegister, processed over 57 million transactions - more than any other payment processing company in the industry About CyberCash CyberCash, Inc., is the world's leading provider of Internet payment services and electronic payment software. The company uniquely provides services to more than 20,000 Internet merchants and has shipped more than 130,000 software products. CyberCash offers the broadest reach in the payment industry with a comprehensive distribution network that includes direct and indirect sales as well as marketing partnerships with financial institutions, Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , application service providers, storefront solution providers and leading independent software vendors. About First Data Corp. Atlanta-based First Data Corp. helps move the world's money. As the leader in electronic commerce and payment services, First Data serves more than two million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy 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. . For more information, visit the company's Web site at www.firstdatacorp.com |
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