ICVERIFY Begins Shipping NetVERIFY Credit Card Processing Software for Internet Commerce.OAKLAND, Calif.--(BUSINESS WIRE)--Feb. 9, 1998-- NetVERIFY Enables Secure E-commerce 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 Comprehensive Functionality for Online Merchants and ISPs ICVERIFY Inc., the worldwide leader in providing electronic payment processing software for merchants, today announced that the company is now shipping NetVERIFY, a new product designed specifically for Web commerce sites and for 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. (ISPs). NetVERIFY processes VISA, MasterCard, American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. , Discover Card, Diners Club Diners Club International, originally founded as Diners Club, is a credit card company formed in 1950 by Frank X. McNamara, Ralph Schneider and Casey R. Taylor. When it first emerged, it became the first independent credit card company in the world. , Carte Blanche CARTE BLANCHE. The signature of an individual or more, on a while. paper, with a sufficient space left above it to write a note or other writing. 2. In the course of business, it not unfrequently occurs that for the sake of convenience, signatures in blank are , JCB JCB Noun trademark, Brit a large machine used in building, that has a shovel on the front and a digger arm on the back [initials of Joseph Cyril Bamford, its manufacturer] JCB® n abbr and private-label credit card transactions for Web commerce sites, including online stores. NetVERIFY has more than 250 processor certifications, enabling merchants to communicate with over 99% of U.S. banks. With NetVERIFY's remote access, ISPs and individual merchants can perform the administrative functions of transaction processing from anywhere in the world, 24 hours a day, using a Web browser The program that serves as your front end to the Web on the Internet. In order to view a site, you type its address (URL) into the browser's Location field; for example, www.computerlanguage.com, and the home page of that site is downloaded to you. . "We are extremely pleased with the feedback from NetVERIFY beta sites An organization or group that is beta testing hardware and/or software. See beta test. ," said Karen Tate, director of Internet markets for ICVERIFY Inc. "Internet service providers and Internet merchants are praising NetVERIFY's ease of installation, integration and use." Barry Wadman, founder of C-Systems Inc. (www.c-systems.com), develops Web sites and online stores for major cities and Fortune 500 companies. He is also the author of two books on the Microsoft Electronic Commerce platform, including his latest, "Special Edition Using Microsoft Site Server". 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. Wadman, "NetVERIFY has the functionality that Internet merchants need today. It's real-time credit card processing on the Internet." He adds, "I also like that NetVERIFY's Web-based remote access makes it easy for stand-alone merchants or hosted merchants to administer their systems." Ken Fricklas, director of Internet development for Eclipse Inc., also chose to provide NetVERIFY to his customers. Eclipse Inc. (www.eclipseinc.com) designs distribution management software, which handles everything from order entry to shipments for large, industrial companies. Fricklas says he selected NetVERIFY over its competitors, and now integrates the software with Eclipse's products. "NetVERIFY provides the best transaction processing option today. Its simple configuration, installation, and seamless integration An addition of a new application, routine or device that works smoothly with the existing system. It implies that the new feature or program can be installed and used without problems. Contrast with "transparent," which implies that there is no discernible change after installation. make implementing NetVERIFY a breeze," Fricklas said. "The software also allows our clients to handle Internet commerce transactions with security, efficiency and speed." NetVERIFY provides payment processing links between merchants and their banks. It gives merchants the flexibility to choose the communication method that makes the most sense for their business and transaction volume. The software can be used with a wide range of communications options: Dial-up connections, leased-lines, or Secure Sockets Layer (networking, security) Secure Sockets Layer - (SSL) A protocol designed by Netscape Communications Corporation to provide secure communications over the Internet using asymmetric key encryption. (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. ) Internet connectivity. Dial-up with a modem provides cost-effective data transmission for low-volume Web sites. Leased-line connections give high-volume Web sites and service providers a method for secure, timely transmissions. SSL connectivity is available through ICVERIFY's strategic Commerce service provider (CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P ) partners. NetVERIFY will provide direct SSL to processors this year, and will add support for Secure Electronic Transactions Secure Electronic Transaction (SET) is a standard protocol for securing credit card transactions over insecure networks, specifically, the Internet. SET is not itself a payment system, but rather a set of security protocols and formats that enables users to employ the existing (SET) when the protocol is production ready. NetVERIFY is a secure system; it resides on the merchant's or ISP's server behind a firewall, and allows users to select whether they process transactions in real-time or batch-mode. NetVERIFY is fully scalable; the basic product allows for 8 simultaneous connections from online shoppers and a single line out to processing networks, but additional licensing can be purchased to expand throughput, both in and out, as merchants increase sales volume. NetVERIFY integrates with leading storefront solutions from Microsoft, Oracle, The Internet Factory, InterShop Communications, and Mercantec. In addition, ICVERIFY's Integration Partnership Program provides the necessary sample code and technical support to enable Internet merchants or ISPs to easily integrate NetVERIFY into their existing systems. NetVERIFY is available in an annual lease structure that includes upgrades, updates, maintenance and basic support. First year leases for Windows are priced at $900, with subsequent years at $450. For multiple merchant sites, additional merchants can be added for less than $250 per year. About ICVERIFY Inc. ICVERIFY Inc. is a privately held, venture capital-funded corporation with U.S. headquarters in Oakland, Calif., and European headquarters in Munich, Germany. The company is the leading provider of software solutions for authorizing credit, purchase, debit/ATM card and check guarantee transactions for merchants. Web commerce sites, Internet service providers, retail stores and catalog companies use ICVERIFY at more than 250,000 point-of-sale locations worldwide. For more information about ICVERIFY, visit www.icverify.com or call 800/666-5777. -0- ICVERIFY and NetVERIFY are trademarks of ICVERIFY Incorporated in the U.S. and/or other countries. All other trademarks and registered trademarks are property of their respective owners. CONTACT: ICVERIFY Inc. Cindi Bennett, 510/563-6215 cbennett@icverify.com or Strategy Associates Michele Tirrell, 650/653-2777 michelet@prstrategy.com |
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