Compaq Computer Corp, GlobeSet Inc and Oki Electric Industry Co have inked an agreement to combine efforts in developing internet-based electronic settlement systems. Dow Jones reports that the three will develop and market Japanese software compatible with the Secure Electronic Transaction (SET) 1.0 internet credit card settlement standard. Next month Compaq will start shipping a SET-based electronic payment system to Japan; Oki will start marketing a product to enhance the safety of electronic transactions; and GlobeSet will tailor the products to the Japanese market. GlobeSet does electronic transaction software, while Oki is a communications equipment firm.
