Kurant and Paymentech Launch Integrated Electronic Commerce and Payment Solution - Brief Article

Information Superhighways Newsletter, Sept, 2001

Kurant Corp., a provider of e-business software and services, and Paymentech, the nation's leading processor and acquirer of credit card transactions, announced a strategic partnership and the launch of a tightly integrated electronic commerce and payment solution. StoreSense, Kurant's award-winning e-commerce platform, has been integrated with Paymentech's Web-based merchant application and payment gateway. The integrated solution provides full-scale functionality for establishing automated merchant account, payment processing, and e-commerce services.

The joint offering is available immediately to each company's new and existing customer base, including Paymentech's more than 400,000 merchant customers. Kurant and Paymentech will also jointly market the integrated solution to large corporations looking to offer branded e-business solutions to their small- and medium-size business customers.

StoreSense is an award-winning e-business platform that enables corporations to deliver branded e-business services, including e-commerce, supplier communication and inventory, sales, and customer management, to the SMB market. The product's groundbreaking architecture-including an XML transaction engine and Java-based framework -- provides unprecedented scalability and seamless integration with other applications. With its template-based interface, StoreSense can be fully customized for delivery under a vendor's existing brand name.

Paymentech's Web-based merchant application allows merchants to apply for a merchant account in an on-line process that takes approximately 10 minutes. Once approved, merchant information is automatically integrated into Paymentech's payment gateway. The on-line merchant application can also be re-branded for e-commerce service providers that want to extend their identity to the merchant account service.

Paymentech's payment gateway integrates into the merchant's checkout process. The gateway features back office functionality that allows merchants to send their daily batch for processing, search for transactions or batch files, administer password authority, and provide reporting on all the payment transactions and orders processed.