April 6, 2001, 12:00 AM

VeriSign, eONE partner up for web payments

VeriSign and eONE Global will co-market each other`s products and services and co-develop payment products the web and wireless applications.

VeriSign Inc., a provider of Internet trust services, and eONE Global LP, a provider of payment technologies for Internet and wireless applications, have signed a strategic agreement to co-market each other`s products and services as well as co-develop solutions to increase secure payment options for businesses selling on the web. VeriSign intends to make a $20 million equity investment in eONE Global and its SurePay business.

VeriSign and eONE Global, through eONE`s operating company SurePay LP, will integrate their B2B solutions to deliver and co-market a "best of breed" offering via SurePay`s patent-pending end-to-end payment solution to business-to-business exchanges, enterprises and financial institutions, and will jointly market VeriSign`s PayFlow managed payment services to online merchants. SurePay, an Internet gateway services provider for First Data Corp., will market VeriSign`s managed payment gateway, as SurePay`s premier payment gateway offering, to First Data`s financial institution clients and other distribution partners. First Data is the majority owner of eONE Global. It has relationships with 2.5 million merchant locations and more than 1,400 payment-card issuers.

Additionally, VeriSign will integrate First Data`s patented VirtualApp technology, an online merchant account application and decisioning tool, into its merchant payments platform and will also market First Data`s payment processing services to its customers, including its web-based customer file.

 

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