Internet Security: World Class Internet Merchants Deploy New Level of Secure Payment With VeriFone Software - Company Business and Marketing

Edge: Work-Group Computing Report, Oct 19, 1998

Further extending its e-commerce leadership onto the Internet, VeriFone, Inc., the leading global provider of secure electronic payment solutions, Monday announced leading merchants that have implemented VeriFone's vPOS (virtual point of sale) Internet merchant payment solution into their Web stores.

The merchants are among the world's first to offer the highest available level of payment security to Internet consumers, providing the benefits of the Secure Sockets Layer (SSL) and SET Secure Electronic Transaction 1.0 protocols to their customers.

Entertainment Media Services (EMS) and GradAdvantage are among merchant Web sites that are live with the latest vPOS merchant payment software, utilizing a VeriFone Internet gateway (vGATE) at BA Merchant Services, a subsidiary of Bank of America. The elite group of merchants are part of a rapidly expanding number of merchants that are now deploying secure Internet payment using the extensive infrastructure of VeriFone gateways worldwide.

VeriFone offers secure online payment solutions and programs designed for the high-volume requirements of large Internet merchants, and recently announced a program that allows smaller merchants to leverage Internet Service Providers (ISPs) as a more cost-effective means of building and maintaining an Internet storefront. vPOS gives merchants and ISPs the ability to conduct highly secure online payment.

"VeriFone has supported us in creating a unique credit card, cash management and distribution infrastructure for our Internet e-commerce systems," said David Archambault, senior vice president, Entertainment Media Services. "By incorporating VeriFone's technology into our transaction systems, our customers can be assured that their credit card information will be treated with the highest level of security and our client companies will receive the proceeds from customer transactions as quickly as possible."

"ETS views VeriFone as a way to increase global access to electronic admissions services. Our international test-takers and applicants, particularly, stand to benefit considerably from use of this highly secure, paperless, real-time payment service. This model of e-commerce is being considered by other areas of ETS that require faster and more accessible payment options," said Denyse Leslie, director and new product development leader at ETS.

"VeriFone has enabled us to complete the electronic experience of applying to graduate business schools by providing a safe and secure channel to accept application fees on behalf of GradAdvantage's participating institutions," added Bill Cole, vice president for Academic Services at Peterson's.

"These premier merchants are leading the way for the entire world of Internet commerce, demonstrating how to reap the benefits of online business with the most advanced payment security," said Elizabeth Ames, general manager of VeriFone's Internet Merchant Group. "We believe this is a very strong statement about VeriFone's continued extension from the physical point-of-sale to the virtual world of payment on the Internet."

Entertainment Media Services has operated a centralized e-commerce service since 1996. The company's primary service, Time Warner Order Center (http://timewarnerordercenter.com), supports transactions from clients including Warner Bros. Studio Store (http://www.wbstore.com), Rhino Direct (http://www.rhino.com), and Atlantic Records (http://store.atlantic-records.com).

Entertainment Media Services is a Warner Music Group company. Warner Music Group, the world's leading music entertainment company, is a division of Time Warner Inc.

GradAdvantage (www.gradadvantage.org), developed by ETS and Peterson's and sponsored by the Graduate Management Admission Council, is the first Web-based electronic admissions service to deliver applications to institutions together with official GMAT score reports attached. The Massachusetts Institute of Technology (MIT)/Sloan School of Management is one of the leading universities employing the service.

vPOS Merchant Software As one of the key elements of VeriFone's end-to-end Internet commerce solution, vPOS merchant software enables payment for Internet-based merchants. Residing on a merchant's or ISP's Web server, vPOS provides the tools for accepting secure Internet credit card transactions on a virtual store -- including real-time, online authorization, settlement and other payment management functions.

It facilitates credits, reversals, voids, settlement/reconciliation and generates a consumer receipt. vPOS merchant software is designed to be compliant with the Secure Sockets Layer (SSL) and SET Secure Electronic Transaction protocols.

VeriFone, Inc., a wholly owned subsidiary of Hewlett-Packard Company, is the leading global provider of secure electronic payment solutions for financial institutions, merchants, and consumers. VeriFone has shipped more than six million electronic payment systems, which are used in over 100 countries.