In its second-largest acquisition, Amazon buys the company for $970 million.
The new name references a market located in Venice, Italy.
Moneta Corp., a payment processor for online transactions, has changed its name to Rialto Commerce. The company also renamed its consumer-facing payment product for e-retailers as Rialto Pay.
Consumers who sign up for Rialto Pay file their checking or money market account information with Rialto Commerce. Consumers then can directly debit online purchases from these accounts when they shop with an e-retailer that offers Rialto Pay without having to reveal their financial information to the e-retailer.
The Rialto Commerce name references the Rialto Bridge market in Venice, Italy, says Carol Kleywegt, vice president of marketing at Rialto Commerce. “The name Rialto Commerce underscores our plans to mirror the market’s role as a central facilitator for transactions,” she says.
Kleywegt says the company will implement the new branding with e-retailers through the rest of the year. Consumers with Moneta accounts will have their accounts transferred to Rialto Pay automatically.
E-retailers such as GiftTree.com, StacksandStacks.com and Shoebuy.com Inc. offer Moneta/Rialto Pay as a payment option. Shoebuy is No. 77 in the Internet Retailer Top 500 Guide. GiftTree.com is No. 437.