Wells Fargo, Virtual Vineyards are open for regular business on the Internet.SAN FRANCISCO--(BUSINESS WIRE)--Feb. 17, 1995--Wells Fargo Bank announced Friday that it is now authorizing and processing credit card payments for Virtual Vineyards, an Internet-based business that retails premium wines over the 'Net. The bank believes that it is the first U.S. bank to provide secured payment transactions for a merchant selling over the Internet. "Handling secure payments for a merchant doing actual business on the Internet is a milestone we have reached on the information superhighway," said Debra Rossi, senior vice president and manager of electronic payment systems at Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank. "With the enthusiastic support of Wells Fargo, we are now regularly accepting and filling orders for fine wines in a completely integrated and secure electronic process," said Robert Olson, president and co-founder of Virtual Vineyards. Here's how the process works: A customer connects by computer to Virtual Vineyards' World Wide Web site and orders wines from their on-line portfolio. Virtual Vineyards receives the order with the customer's encrypted credit card payment information. It then electronically transmits the credit card payment to Wells Fargo Bank and the order to the supplying winery win·er·y n. pl. win·er·ies An establishment at which wine is made. Noun 1. winery - distillery where wine is made wine maker . The bank authorizes the payment and captures the money from the customer's credit card account over Wells Fargo's private electronic network. Meanwhile, the winery starts filling the order and arranging to ship the wine to the buyer. At present, the Wells Fargo-Virtual Vineyards secure process is limited to consumers who access the Internet with Netscape software. However, Virtual Vineyards also has non-Internet methods for accepting payments. Wells Fargo soon will test a way to broaden access to secure Internet transactions, using a solution developed by CyberCash Inc. The CyberCash pilot with a small number of Wells Fargo's merchant customers is scheduled to begin about April 1. In another development, Wells Fargo's cash management division on Jan. 31 became the first bank in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. to receive and settle a business customer's Electronic Data Interchange See EDI. (application, communications) electronic data interchange - (EDI) The exchange of standardised document forms between computer systems for business use. EDI is part of electronic commerce. payment over the Internet. The transaction was secured using Tested Systems Inc.'s public and private key cryptography Typically refers to secret key cryptography, which uses the same secret key. However, the use of the term "private" is confusing, because in public key cryptography (a different architecture), a "private key" is used. See cryptography. . Based in Los Altos Los Altos (lôs ăl`tōs, lŏs), residential city (1990 pop. 26,303), Santa Clara co., W Calif.; inc. 1952. There is diversified light manufacturing. , Calif., Virtual Vineyards is a full-service retail and information source on the Net for people who are interested in great wines. Master Sommelier Peter Granoff, who co-founded Virtual Vineyards with Robert Olson, selects each wine that is offered for sale. His tasting chart, tasting notes and review of every wine are available to Net browsers. In addition, Granoff hosts an on-line forum about wine. Virtual Vineyards' Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is http://www.virtualvin.com. In addition to Wells Fargo's services for business on the Internet, the Internet, the, international computer network linking together thousands of individual networks at military and government agencies, educational institutions, nonprofit organizations, industrial and financial corporations of all sizes, and commercial enterprises bank has established a site on the World Wide Web, which provides information about the bank and specific products and services. The bank's address is http://www.wellsfargo.com. Based in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Wells Fargo Bank is the second largest bank in California and the principal subsidiary of Wells Fargo & Co. CONTACT: Wells Fargo Bank, San Francisco Lorna Doubet, 415/396-3606 Virtual Vineyards Robert Olson, 415/941-3816 |
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