RSA Data Security Inc has granted electronic payment software company Trintech Inc an exclusive license to its S/Pay secure payment developer’s suite so it can take it beyond credit card payments into other forms of payments, in return from a share of revenues of the enhanced product and an investment of up to $5m in Trintech by RSA’s parent company, Security Dynamics Inc. RSA will continue to develop the security aspects of the product, which is a set of development tools for developing secure credit card payment applications that support the Secure Electronic Transactions (SET) protocol. It will be enhanced to support business-to-business transactions including electronic checking, cash cards and micropayments. Trintech is a 10 year-old company formed in Dublin – but now based in Silicon Valley – that sells its products and integration services to banks, financial services companies and retail industries. S/Pay gives it extended payment options, such as payments in other currencies, says Trintech. It was one of the first customers of S/Pay, which it used to develop its PayPurse, PayWare and PayGate web-based applications. RSA would not detail exactly how much it is investing into Trintech.
