VeriSign Introduces Merchant Payment Services Platform for [...]

📅 October 23, 2001 - VeriSign, Inc. (verisign.com), a leading provider of digital trust services, introduced a payment services platform that enables internationalservice providers to deliver co-branded online payment services to merchants in international markets. Merchants worldwide will now be able to securely process payments online through VeriSign's trusted payment services infrastructure.

In conjunction with this announcement, nine international service providersincluding CIBC, eSign, Firstream, Paymon, TrustAsia, and VeriPay amongothers will be the first affiliates to deploy the platform in theirrespective regions. Broad coverage includes Asia, Australia/New Zealand,Europe, North America, and South America.
Powered by an infrastructure that processed 43 million transactions worth anaggregate US $2 billion for more than 50,000 domestic merchants in the thirdquarter 2001, VeriSign's new payment services platform will give affiliatesthe ability to provide secure payment processing to merchants in their area.
The platform provides:
Secure, redundant, high-speed connectivity to payment processors;Routing real-time authorization response;Connectivity to credit card, purchase card, Internet check and ACHprocessing networks in the US and connectivity to specific local processingpartners for each affiliate, supporting payment types that are used in theirregion;Pre-integration into over 70 e-commerce applications; andPersistent storage of transaction history.
"Merchants around the world share a common need: a payment solution thatprovides real-time connectivity to regional payment processors" said AnilPereira, Senior Vice President and Group General Manager, Enterprise andService Provider Division, VeriSign. "We selected nine new affiliates tosupplement our payment platform with their core competencies to provide asuperior service to merchants worldwide."
VeriSign affiliate eSign will deliver payment services to the growing onlinemerchant base in Australia. "Consumers and merchants worldwide want to buyand sell products safely online. That's why VeriSign is expanding itstrusted payment services into the global marketplace, providing protectionand integrity at all points in the payment process," said Gregg Rowley,managing director for eSign Australia Limited.
According to a Gartner Group study, more than half of adults who buy on theWeb report they are not comfortable entering personal financial information.Establishing trust has become an essential component of building astorefront for merchants.
Offering both payment connectivity and online security, VeriSign providesmerchants worldwide with a one-stop shop for all of their online commerceneeds. In addition to the VeriSign payment services, VeriSign digitalcertificate services provide a trusted transaction framework by enablingconsumers to verify a merchant's identity before submitting their payment.VeriSign launched its first global network of affiliates to deliverco-branded digital certificate services in 1999 and today there are 37.