VeriSign Inc., a provider of Internet trust services, and eONE Global LP, a provider of payment technologies for Internet and wireless applications, have signed a strategic agreement to co-market each other's products and services as well as co-develop solutions to increase secure payment options for businesses selling on the web. VeriSign intends to make a $20 million equity investment in eONE Global and its SurePay business.
VeriSign and eONE Global, through eONE's operating company SurePay LP, will integrate their B2B solutions to deliver and co-market a "best of breed" offering via SurePay's patent-pending end-to-end payment solution to business-to-business exchanges, enterprises and financial institutions, and will jointly market VeriSign's PayFlow managed payment services to online merchants. SurePay, an Internet gateway services provider for First Data Corp., will market VeriSign's managed payment gateway, as SurePay's premier payment gateway offering, to First Data's financial institution clients and other distribution partners. First Data is the majority owner of eONE Global. It has relationships with 2.5 million merchant locations and more than 1,400 payment-card issuers.
Additionally, VeriSign will integrate First Data's patented VirtualApp technology, an online merchant account application and decisioning tool, into its merchant payments platform and will also market First Data's payment processing services to its customers, including its web-based customer file.
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