CyberCash and Sun Microsystems join to promote and market electronic payments on the Internet.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 22, 1995--Today at the SunWorld Conference, CyberCash, Inc. and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. Computer Company announced that they have entered into a strategic partnership to comarket products and services as well as to promote interoperability and security for electronic commerce on the Internet. As part of this relationship, Sun has agreed to begin promoting CyberCash electronic payment services Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. to its customer base. "Security on the Internet has been a concern for users, especially as more and more businesses and individuals conduct business on-line," said Bill Melton "CyberCash's electronic payments expertise combined with Sun's server technology and large installed base will bring Internet users one step closer to secure electronic commerce," said Eric Schmidt, chief technical officer for Sun Microsystems. "Our customers are eager for interoperable solutions that will enable them to conduct business on the Internet conveniently and reliably. By working together with CyberCash we can provide the tools our customers need for a competitive edge." Working Together to Advance Electronic Commerce Sun will comarket CyberCash Internet Payment Services and begin educating its customers about the benefits of secure, end-to-end payment services. Sun's servers are utilized by companies that seek to sell 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. on the Internet. Most any vendor with a home page on the World Wide Web (WWW WWW or W3: see World Wide Web. (World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. ) could obtain merchant status and begin accepting payment on-line via CyberCash's payment system. Since CyberCash's software is browser, server and platform-independent, merchants that rely on Sun's servers can easily conduct transactions with consumers no matter what type of client or browser they may have. In the future, Sun and CyberCash may also work together to address additional security issues for their customers. CyberCash Background CyberCash, Inc. of Reston, Virginia Reston is an internationally known planned community whose goal was to revolutionize post-World War II concepts of land use and residential/corporate development in American suburbia. , was founded in August 1994 to partner with financial institutions and providers of goods and services to deliver secure Internet payment systems. The CyberCash approach is based on establishing a trusted link between the seemingly unpredictable world of cyberspace and the traditional banking world. CyberCash serves as a conduit through which payments can be transported easily, safely and instantaneously between buyers, sellers and their banks. The CyberCash system operates on top of any general security system such as 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. or Secure HTTP HTTP in full HyperText Transfer Protocol Standard application-level protocol used for exchanging files on the World Wide Web. HTTP runs on top of the TCP/IP protocol. . CyberCash beta software is currently available free-of-charge and can be downloaded from the company's WWW server at http://www.cybercash.com. The company's initial service that accepts payments using any major credit card is scheduled for full commercial deployment by the end of June. Electronic cash services are expected by the end of 1995. CyberCash's principal founders, Bill Melton and Dan Lynch, have brought together a team with unparalleled experience in credit card and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. automation, Internet telecommunications and security. In April, CyberCash was chosen by Interactive Age as one of the 100 Best Business Web Sites. For further information about CyberCash, access its WWW server or call (800) 9CYBER1. Sun Microsystems Sun Microsystems Computer Company (SMCC SMCC - Sun Microsystems Computer Corporation. ) is the largest business unit within Sun Microsystems Inc. SMCC is the world leader in the design, manufacture and sale of network computing systems. Recognized for quality and innovation, the company's SPARCstations and multiprocessing servers each hold the No. 1 UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). marketshare position. These systems are used primarily by business, educational institutions and governments worldwide for technical, commercial, industrial and software development applications. -0- Note to Editors: CyberCash is a registered trademark of CyberCash, Inc. Other products and names may be trademarks of their respective companies. CONTACT: Thomas Associates Inc. Susan Ice, 415/325-6236 susani@thomaspr.com or Sun Microsystems George Paolini, 415/960-1300 |
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