Austin, Texas– January 21, 2002 – Best Buy Co., Inc. (NYSE: BBY), North America’s number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances announced today that it has implemented ClearCommerce Corporation’s ClearCommerce Engine™ for processing online sales on BestBuy.com.
The ClearCommerce Engine is a robust, high-performance, enterprise application that will support BestBuy.com’s transaction volumes while maintaining the speed and reliability necessary to ensure customer satisfaction. The software will provide real-time credit card authorization, electronic check, and ACH payment processing for BestBuy.com.
“Best Buy needed a proven, reliable payment processing solution that would scale with our business,” said Dan Lagermeier, director of Finance for Best Buy. “ClearCommerce provided us with a software solution that supports BestBuy.com’s growth.”
“Payment transaction processing is a mission critical application, especially for leading online retailers like BestBuy.com that are focused on customer service and satisfaction. The ClearCommerce Engine delivers the robust features and reliability that are essential to the operational and financial success of their online business,” said Rob Lynch, president and CEO of ClearCommerce.
The ClearCommerce Engine enables online businesses to automate the Internet sale through secure back-end transaction processing. Capabilities include real-time transaction processing with the credit card processors, electronic check and ACH payments, extensive risk management protection and analysis, business reports for merchants, storefront integration, APIs to businesses’ existing ERP or fulfillment systems, and shipping and tax calculations.
About ClearCommerce
Austin, Texas-based ClearCommerce is the leading provider of e-commerce payment processing and risk management software to safeguard and automate online financial transaction processing. ClearCommerce software is used by more than 40,000 businesses worldwide, including customers such as Apple Computer, PETsMART, Sony Online, and Chase Merchant Services. The ClearCommerce Engine features real-time payment processing and risk management protection, as well as online reports, storefront integration, back-end integration, and shipping / tax calculations. For more information, visit www.clearcommerce.com.
About Best Buy Co., Inc.
Minneapolis-based Best Buy Co., Inc. (NYSE: BBY) is North America’s number one specialty retailer of consumer electronics, personal computers, entertainment software and appliances. The Company operates retail stores and commercial web sites under the names: Best Buy (BestBuy.com), Future Shop (FutureShop.ca); Magnolia Hi-Fi (MagnoliaHiFi.com), Media Play (MediaPlay.com), On Cue (OnCue.com), Sam Goody (SamGoody.com), and Suncoast (Suncoast.com). The Company reaches consumers through more than 1,800 retail stores in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands.
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For more information, please contact:
Michael Staley
ClearCommerce
512-977-5418
mstaley@clearcommerce.com
Donna Beadle
Best Buy Co., Inc.
952-995-5259
donna.beadle@bestbuy.com
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