The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
(http://www.software.ibm.com) IBM today announced new software that enables service providers to quickly link merchants to payments processors to handle complex e-commerce transactions. IBM's new WebSphere Payment Manager V2.1 (formerly called Payment Server) will offer payment hosting capabilities for Internet service providers, commerce service providers, application service providers, banks and financial institutions. "WebSphere Payment Manager will serve as a security-enhanced cash register on the Internet, designed to allow merchants to move into the growing area of online credit and debit card transactions," said Ed Kilroy, general manager, IBM e-commerce Software Solutions. "It will help merchants add payments capabilities with existing software for an easy to use, end-to-end, more secure e-commerce solution." IBM also today announced relationships with several customers and business partners who are teaming with IBM to develop simplified and secure payment transaction processes through WebSphere Payment Manager, including CyberCash, Credit Union Electronic Transaction Services (CUETS), Excite@Home, First Data Corporation, NOVA Corporation, Paradata Systems, SGZ-Bank, ShopNow.com, Visa, and others.