Terra Lycos to integrate Visa`s e-commerce Secure Transaction Platform
MIAMI, Sept. 24 -- Terra Lycos (Nasdaq: TRLY; Madrid Exchange: TRR), the global Internet network, and Visa International, Latin America and Caribbean Region, the leading global payments service, entered into a major multi-faceted alliance to bring Latin American and Caribbean consumers and businesses the best Internet experience by providing security, trust and convenience.
The agreement leverages the companies` well-recognized brands and extensive global networks to promote the ease and benefits of making secure on-line purchases. It capitalizes on Terra Lycos extensive reach -- 70 percent of the Latin American Internet audience -- and Visa`s ubiquitous on-line acceptance, currently accounting for 93 percent of e-merchants and 55 percent, or US$198 million, of the overall volume of on-line credit card purchases, as reported in the 2000 Boston Consulting Group study, Online Retailing in Latin America: Beyond the Storefront.
Terra Lycos will integrate Visa`s e-commerce Secure Transaction Platform through payment authentication for enhanced consumer protection while shopping on-line. This Platform assures e-merchants that sales of goods and services made through Terra will be valid, as the cardholder`s issuer will have validated and approved the transaction.
This partnership moves beyond traditional online advertising-based alliances by providing a Secure Transaction Platform, comprehensive marketing program, consumer awareness and a wide range of benefits for Visa cardholders and Terra users.
Press Office of Terra Lycos