A recent report from eBay sheds some new light on its payments arm, set to go solo later this year.
NetZero Inc., a provider of advertising- and commerce-supported Internet access, has finalized the acquisition of privately-held RocketCash Corp., an online gateway that enables consumers--particularly the rapidly growing teen market--to shop and buy securely on the Internet without a credit card. Under the terms of the agreement, NetZero issued approximately 5.6 million shares of its common stock. NetZero intends to utilize RocketCash's proprietary and patent-pending Currency Exchange and Payment Processing Technology to create a robust merchant network for NetZero's more than 5 million registered users. The RocketCash technology enables consumers to aggregate various forms of currencies, including online incentive dollars, offline promotional points, gift certificates, money orders, personal checks and U.S. dollars into one spending account. RocketCash's data capabilities, combined with NetZero's proprietary zCast targeting technology, will enable NetZero to provide its users with targeted online redemption coupons and advertisements. RocketCash has agreements with more than 120 top-tier e-retailers that are part of the RocketCash Merchant Network, which does not require any modifications to merchant Web sites or software downloads. NetZero will make the technology available directly to consumers under the RocketCash brand and will offer its technology to portals, consumer packaged goods firms and incentive sites on a private-label or RocketCash-branded basis.