2Checkout.com Gets to Market Fast with Retail Decisions Real-time Electronic Payment Processing
For further information contact:
2Checkout.com Spokesperson
2Checkout.com
(614) 819-2364
kristen@2checkout.com
Carol Romeo
Retail Decisions
(201) 556-9404, Ext. 110
carol@cbkgroup.com
HAZLET, NJ (December 5, 2002) -- Retail Decisions, an international
supplier of payment card, e-business and fraud-prevention services,
today announced that 2Checkout.com, the online distribution center for
more than 300,000 tangible or digital products and services, has
selected Retail Decisions` LiveProcessor(TM) electronic payment
software solution. Providing LiveProcessor as an outsourced service,
Retail Decisions will facilitate all of 2Checkout.com`s real-time
online payment processing needs.
Under the 2Checkout.com business model, Web businesses sell their
goods and services to 2Checkout.com for immediate resale. This year
alone, 2Checkout.com has processed more than $36 million in sales. On
average, the site receives more than 400,000 visitors a month.
"With the holiday season fast approaching, 2Checkout.com needed to
quickly offer our retailing customers a fast and reliable payment
processing service, but we were concerned with the start-up and
integration time typically associated with these types of systems,"
said Alan Homewood, CEO of 2Checkout.com. "Rather than immediately
install the LiveProcessor software on our systems -- a process that
typically takes between six to ten weeks from start to finish -- we
were able to use LiveProcessor`s API (Application Protocol Interface)
to remotely access the LiveProcessor payment software and, within 3
days, begin processing payments on behalf of our clients."
"Retail Decisions offers a simple and fast solution for organizations
seeking to have flexibility in their banking or payment processing
relationship," said Carl Clump, CEO of Retail Decisions. "With our
modular architecture and multiple active interfaces to leading payment
processing suppliers, we can dramatically reduce the deployment time
of the LiveProcessor solution, and get our customers to market fast by
hosting the payment software within our data center. We complete the
onsite installation several weeks later once the product is installed,
tested and certified with the processor."
With over 100 installations of LiveProcessor in the US, LiveProcessor
customers complete an estimated 13 million card-not-present
transactions in 23 currencies on a monthly basis.
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 secure 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 Buy.com, Hotwire,
Netflix, Nextel Communications, RealNetworks, Research In Motion,
ShopNBC, Tupperware and Unicity.
About 2Checkout.com Inc.
2Checkout.com is the online distribution center for over 300,000
tangible or digital products and services. Established in 1999 and
headquartered outside Columbus, Ohio, 2Checkout.com Inc. provides
turnkey e-commerce solutions to thousands of business customers around
the world. 2Checkout.com`s proprietary technology supports back-office
functions including financial reporting, tracking, fraud prevention,
affiliate tracking, customer service and sales tracking.
About Retail Decisions
Retail Decisions (ReD) is an international electronic payment
transaction services business that provides fraud prevention,
enterprise-class payment processing software and value-added
transaction and consulting services to the finance,
telecommunications, retail and e-commerce sectors. ReD is able to
predict and prevent payment card fraud, process high volumes of credit
card and electronic check transactions and has a platform for a full
range of transaction-based, value-added services.
The company currently protects over 50,000 points of sale globally. In
2001, ReD processed more than one billion card transactions, stopping
an estimated $396 million in fraudulent purchases. ReD has more than
15 years of experience in credit card risk management and payment
settlement services to the telecommunications industry in the U.S.,
and currently supplies its services to over 45 telecom companies.
A global company, ReD has operations in the United States, Europe,
South Africa and Australia. Retail Decisions is publicly traded on the
official list of the London Stock Exchange under the trading symbol,
"RTD". More information about ReD is available at
www.retaildecisions.com.
# # #
LiveProcessor is a trademark of Retail Decisions, Inc. All other
trademarks are registered trademarks of their respective companies.
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