VeriFone and EHPT to Offer Integrated, Standards-based e-Payment Solution for Internet Micro- and Macro-payments
VeriFone’s e-Payment Server together with Jalda enable payment flexibility for e-services
PALO ALTO, Calif., Mar. 22, 2001 -- VeriFone, a division of Hewlett-Packard Company (NYSE: HWP), and worldwide leader in electronic payment solutions, today announced a marketing agreement with EHPT, a joint venture between Ericsson and Hewlett-Packard, to offer an integrated Internet payment solution that handles both micro- and macro-payments for value-added e-services.
Micro-payments—very small transactions that are below the typical limits set for credit card purchases, are used to charge for e-services billed in increments, such as by the minute, hour, game, per point, per download, or per online session. E-service providers need to support both micro- and larger macro-payments made by consumers purchasing e-services, no matter what Internet-enabled device they’re using. To achieve this, e-service providers typically outsource the task of payment and collection to a payment service provider like a telco, bank, processor or Internet Service Provider.
Jalda, a payment technology developed by EHPT, avoids the complexities and expense of a proprietary micro-payments solution by offering payment service providers a way to securely handle micro-payments over fixed and mobile Internet-enabled devices. Payment service providers will be able to use the Jalda-based EHPT SAFETRADER payment system and VeriFone’s e-Payment Server (ePS) product to handle micro- and macro-payment transactions for e-services, as well as the reloading of the accounts from which micro-payments are deducted, and all infrastructures required to support it. EHPT SAFETRADER is the first payment system based on the Jalda technology.
“Many people think Internet based services are restricted to what they can access through their PC, but e-services will become ubiquitous –available through a wide variety of Internet-enabled devices including cell phones, vending machines, point-of-sale terminals, handheld PDA’s, and many others,” said Patrik Attemark, marketing director, EHPT Internet Payment Systems. “Many of these new e-services, like streaming video, music and on-line gaming, also are charged in small, low-valued increments. As a result, e-service providers need the power and flexibility to accept virtually the entire spectrum of e-payments –small or large –no matter what Internet-enabled device is used. VeriFone’s e-Payment Server (ePS) for macro-payments, integrated with our Jalda-based EHPT SAFETRADER solution for micro- and session based payments answers this need.”
VeriFone’s ePS is a comprehensive, standards-based solution that handles traditional macro-payments over the Internet, including debit, credit, gift card, and electronic check, as well as online, customer prepaid accounts. A mission-critical payment server that provides essential capabilities for automating and integrating Internet, wireless and physical transactions, ePS interfaces with EHPT’s Jalda-enabled Internet payment system for micro-payments. By integrating with EHPT SAFETRADER, VeriFone’s ePS enables a payment service provider to reload capability for prepaid accounts and accept macro payments.
How SAFETRADER and ePS Will Work Together
A consumer, for example, makes a payment of $10.00 or more –called a macro-payment –to load value into an account. The funds in this account are reduced over time as the consumer uses e-services that are charged using small, incremental micro-payments, such as 3 cents per minute for an Internet telephone call, or 10 cents per download for an online research service. Once the funds in the micro-payment account are used up, the account holder must make another macro-payment to reload the account with value.
“This agreement is an exciting continuation of VeriFone’s Payment Roaming initiative, which acknowledges that in today’s Internet landscape, payments for e-services must be possible with any Internet-enabled device, at any time, using any form of payment,” said Stuart Taylor, director of emerging markets and business development at VeriFone. “Jalda technology and VeriFone’s ePS solution will extend a wide range of e-payment methods to virtually any Internet-enabled device. EHPT SAFETRADER gives payment service providers the flexibility, security and reliability they need to support session-based micro-payments, which are required for many emerging e-services.”
About JALDA
Jalda™ is a payment method developed by EHPT, a company jointly owned by Ericsson and Hewlett-Packard. Jalda makes micro- and session based payments possible from both fixed and mobile devices with Internet access. It is account based which means that both consumers and content providers are connected to an account managed by a payment service provider. Jalda supports digital content delivery, B2C e-commerce, IP services and is also configured to operate within 3G applications. It uses RSA Public Key Infrastructure cryptographic technology that enables the authentication and signing of Internet contracts. Find out more at www.jalda.com.
About EHPT
EHPT is a global IT business, developing software applications for telecom operators and Internet Service Providers around the world. EHPT`s product portfolio is built on an open and modular architecture for use in both fixed and mobile communications and the Internet. The company was founded in 1993 as a joint venture between Ericsson and Hewlett-Packard. EHPT is represented around the globe, with its Head Office in Sweden and a total of over 1,000 employees.
About VeriFone
VeriFone (http://www.verifone.hp.com), a division of Hewlett-Packard Company, is the leading global provider of secure electronic payment solutions for financial institutions, merchants and consumers. The division has shipped more than nine million electronic-payment systems, which are used in more than 100 countries.
About HP
Hewlett-Packard Company -- a leading global provider of computing and imaging solutions and services -- is focused on making technology and its benefits accessible to individuals and businesses through simple appliances, useful e-services and an Internet infrastructure that`s always on.
HP has 88,500 employees worldwide and had total revenue from continuing operations of $48.8 billion in its 2000 fiscal year. Information about HP and its products can be found on the World Wide Web at http://www.hp.com.
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Editorial Contact:
Jennifer Gordon
Eastwick PR for VeriFone
650.480.4012
jennifer.gordon@eastwick.com
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