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July 15, 1998

IBM ADDS CYBERCASH’S NETVERIFY TO ITS PAYMENT OPTIONS

By CBR Staff Writer

IBM Corp, which says it has sold more than one thousand licenses of its Net.Commerce system so far has added CyberCash Inc’s NetVerify payment tools to its Payment server technology and the two companies have agreed to market each other’s products through their respective channels. The two will develop a NetVerify payment cassette for the latest release of IBM’s Payment Server – version 1.2, due next month and the work is said to already be well underway. CyberCash got the NetVerify technology from its acquisition earlier this year of ICVerify Inc and its PC-based point of sale and mail and telephone ordering system. This is the first such deal between the two companies, and IBM plans to use the NetVerify in the same way CyberCash uses it – to get it in front of retail merchants and then hope to leverage it to sell them on its web-based payment methods as well. Separately, IBM also announced a joint initiative yesterday with Denmark’s Danish Payment Systems (PBS) to provide certificate processing and payment gateway facilities for European financial institutions implementing SET credit card payment system. And finally IBM announced 11 new partners that will link their software to IBM’s commerce and payment servers. They include Business Evolution Inc, Fisher Technology Group, Impac Technology, Intelligent Interactions, Net Perceptions Inc, NetGravity Inc and Personal Logic Inc.

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