May 31, 2001, 12:00 AM

New e-payment system ready for test

UniCache.com, a developer of anonymous online payments, reports it is getting ready to beta test its product. It also announced a deal with Hypercom Corp.

UniCache.com, a developer of anonymous online payments, is getting ready to beta test its product, the company says. UniCache is a prepaid payment vehicle that consumers can use online or at bricks-and-mortar merchants. Consumers can load the card online or in retail locations equipped with Hypercom Corp.`s ICE terminals, paying online by credit card or electronic check or in the physical world with credit card, check or cash. The ICE terminals also will accept the cards for payment at retail locations.

UniCache will begin beta testing at a regional e-mall and at gambling sites within a few weeks, the company says. Once it is ready to start rolling out the product, it will employ independent sales organizations that recruit merchants into credit card programs to sign up retailers. The appeal to merchants is that they can accept the payment at about the same discount rate they pay now for major credit cards without fear of chargebacks, the company says. The appeal to consumers is that the payment is completely anonymous, UniCache says.

Hypercom, a leader in payment technology, says it was attracted to the arrangement with UniCache because the deal allows Hypercom to enter the market for non-traditional payments. UniCache says it hopes to tap into what it perceives as a growing market for anonymous transactions on the web.

 

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