HAZLET, N.J.--July 1, 2002--Retail Decisions, an international supplier of payment card, ebusiness and fraud prevention services, today announced that it has entered into an agreement with I4 Commerce Inc. to provide the Bill Me Later(R) option for merchants utilizing Retail Decisions` LiveProcessor(TM) electronic payment software solution.
Bill Me Later is a revolutionary new method of payment designed to simplify the catalog and website purchase experience by eliminating the need for a credit card. The Bill Me Later option enables merchants to significantly increase sales conversion rates and reduce transaction costs. Customers receive instant purchase approval during the checkout process followed by one monthly bill that aggregates all Bill Me Later purchases from different merchants. The balance can be financed or paid in full at no extra charge. Because no application or account number is needed to complete a purchase, Bill Me Later is the first method of payment that addresses merchants` and consumers` needs for payment convenience and security.
"We are continually looking for ways to exceed our customers` expectations," said Carl Clump, CEO of Retail Decisions. "Our partnership with I4 Commerce is an example of how we are leveraging the latest technologies, boosting customer confidence and making the retailing experience easier."
As the premier processing engine for live credit card and check transactions, Retail Decisions` LiveProcessor combines online, call center, retail and IVR transactions into a single system, and integrates real-time authorization, batch processing and settlement functionality with existing order processing, subscription and electronic commerce systems.
LiveProcessor is the only payment processing application in the world to support Visa CVV2 and Amex CID security codes, procurement level 2 and 3 cards, electronic check processing, foreign currency settlement support and multiple bank interfaces in a single product. Clients of the company include RealNetworks, Bally Total Fitness, Hotwire, Tupperware and Rexall Showcase.
The strategic partnership between Retail Decisions and I4 Commerce allows for simple integration into existing payment applications for catalog and ecommerce transactions.
About I4 Commerce
I4 Commerce, formerly GoPin, provides payment solutions to merchants that make commerce more convenient, safer and more profitable. The company has strategic relationships with the industry`s largest payment processors, including Paymentech and First Data Corporation (NYSE:FDC). I4 Commerce holds the rights to the proprietary technology, information processing and patent pending payment processes used in conjunction with its first product offering; Bill Me Later, a frictionless, safe payment solution. I4 Commerce`s strong management team is led by CEO, Gary Marino. Marino`s management team has a proven track record of success at Citibank and First USA/Bank One.
About Retail Decisions
Retail Decisions (ReD) offers a range of services and products to the card and payment industries through the outsourcing of fraud prevention and value-added transaction services across four principal market sectors; Banking, Retail, Telecoms and Oil. The company has operations in the UK, Europe, the United States, South Africa and Australia.
ReD provides electronic payment processing software combining online, call center, retail and IVR transactions in a central server. The company`s software, LiveProcessor, can complete more than 100,000 credit card and electronic check transactions per hour on a single server. ReD also leverages both rules-based and predictive neural risk management and analysis tools to identify, predict and prevent payment card fraud. The company provides a full range of transaction based value-added services, including solutions for the detection of money laundering activities. More information about ReD is available at www.retaildecisions.com.
I4 Commerce Inc.
Vince Talbert, 443/921-1902
Carol Romeo, 201/556-9404, Ext. 110