eBay and Visa Announce Person-to-Person Payment Partnership World's largest online personal trading community teams with global payment leader.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--March 29, 2000 eBay (Nasdaq: EBAY) Inc. and Visa U.S.A. today announced a marketing agreement that will visibly promote Visa as a primary payment option on eBay. Through eBay's payment subsidiary, Billpoint, eBay sellers can now easily and securely accept Visa payments literally within minutes of enrollment. To help build card usage across eBay's 10 million registered users, Billpoint will waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such all payment processing fees for Visa transactions closed on its system through the end of May. As part of the agreement, Visa will use its extensive marketing and promotional expertise to help build awareness within and outside the eBay community. "Teaming with the world's most recognized payment brand has enormous value," said Janet Crane, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Billpoint, Inc. "This powerful marketing alliance offers individual eBay buyers and sellers a new world of payment simplicity, convenience, and security. With Visa and the many upcoming exciting joint promotions, person-to-person trading on eBay just got even easier." The partnership - which officially begins April 10, 2000 - stems from the overwhelming demand for credit card acceptance on eBay. To date, the vast majority of the $4 billion in gross merchandise sales transacted through eBay involve payment by check and money order. "As the leader in online payment, Visa and its member banks have contributed to explosive growth in e-commerce," said Bond Isaacson, executive vice president of Visa U.S.A. and head of the company's e-Visa unit. "The trust that consumers have in the Visa brand will enable us to enter new markets like the person-to-person environment and provide e-Bay's online shoppers with the most convenient way to pay for everything from beanie babies Sources: A Beanie Baby is a stuffed animal made by Ty Inc. Ty was founded by Ty Warner who promoted the line in specialty stores and gift shops. The Ty company's famous special "posable lining" is understuffed with plastic pellets (or "beans") rather than stuffing to Elvis records." Billpoint began its rollout to eBay sellers on March 1st, 2000. The service will be available to the entire eBay seller community over the next several weeks. Bidders can already use Billpoint to quickly and safely pay for their winning auctions. As part of this program, an Olympics sweepstakes is planned for April of this year. By using their Visa cards to conduct online transactions on e-Bay, a buyer or a seller will have the opportunity to win a vacation package for two to attend the 2000 Sydney Olympics. About Visa U.S.A. Visa U.S.A. is the leading payment brand and the largest payment system 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. , with more volume than all other major payment cards combined. Visa plays a pivotal role in advancing new payment products and technologies to benefit its 14,000 U.S. member financial institutions and their cardholders. There are more than 330 million Visa credit, commercial and check cards, which generate more than $660 billion in annual transaction volume. Visa-branded cards are accepted at over 17 million locations worldwide, including some 500,000 ATMs in the Visa/PLUS Global ATM Network. Visa's 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 www.visa.com. About eBay eBay is the world's leading personal training community (TM) and pioneered person-to-person online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. . Founded in 1995, eBay has developed an efficient trading site on the Internet that is available 24 hours a day, seven days a week. eBay has more than 10 million registered users. eBay members add more than 500,000 items to the site daily in more than 4,200 categories, including: automobiles, books, movies and music, collectibles, jewelry jewelry, personal adornments worn for ornament or utility, to show rank or wealth, or to follow superstitious custom or fashion. The most universal forms of jewelry are the necklace, bracelet, ring, pin, and earring. , electronics, antiques, dolls and figures, pottery and glass, computers, coins and stamps, sports memorabilia The term sports memorabilia usually refers to anything that can be directly connected to a sports event or personality. These items are generally gathered by fans of the particular sport, athlete or team that the item signifies or by collectors who find value in the rarity and toys. About Billpoint Billpoint is a leader in person-to-person payments over the Internet, delivering online payment services since January 1999. Billpoint was acquired by eBay in May 1999 and has an equity partnership with 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. and Company (NYSE NYSE See: New York Stock Exchange :WFC WFC Wi-Fi Connection (Nintendo gaming service) WFC Wide-Field Camera WFC World Financial Center (New York) WFC Workforce Center WFC World Federation of Chiropractic WFC World Food Council .) All brands and product names are trademarks, service marks, or registered trademarks of their respective owners. |
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