REDWOOD CITY, CA - (June 23, 2008) - Vindicia, a leading provider of on-demand payment management software, today announced that Symantec Corp. has selected its Vindicia CashBox™ billing solution to manage the subscription renewal operation for Symantec`s Norton product line. Symantec`s Norton brand of award-winning consumer products is a market leader in desktop protection for individual users, home offices and small businesses.
Vindicia CashBox manages renewals for a number of software manufacturers across 200 countries in North America, Europe, the Middle East, Latin America and the Asia Pacific region, supporting operations in multiple languages and currencies.
"With millions of consumers relying on Norton products to safeguard them from online threats, our renewal process helps ensure that our customers have the most up to date protection year after year," said Nat Maple, vice president of consumer sales, Symantec. "Vindicia provides a fast and convenient way for our customers to stay protected without any gaps between expiration and renewal of products."
"For high-volume, subscription-based software businesses like Symantec, Vindicia CashBox has proven its reliability in handling heavy transaction volume and multi-tiered pricing models," said Gene Hoffman, chairman and CEO of Vindicia. "An efficient billing process is central to generating revenue and maintaining positive customer relationships. Improving monthly retention by just a few percentage points can translate into an annual compound increase in double digits."
For online merchants, the choice of billing system is a highly strategic decision that is key to the success of their business. The billing process, properly handled, can improve the customer experience and boost the bottom line. However, implementing, managing and scaling a payment infrastructure is not a core competency for most online businesses. The Vindicia solution focuses on helping merchants maximize customer acquisition and retention while providing them with the flexibility to fine-tune their business models as customer needs dictate. Vindicia has handled over 41 million transactions for its customers since January 2007 and over 20 million accounts since its inception.
Vindicia offers an integrated, on-demand billing and fraud management solution for online merchants. Vindicia CashBox™ is a best-of-breed billing system for creating and managing recurring and real-time payments and helps merchants improve customer retention and maximize profit. Vindicia ChargeGuard™ provides automated fraud screening and chargeback management services that enable merchants to recover lost revenue. A PCI Service Provider Level 1 company and SAS 70 Type 2 audited, Vindicia is a key payment management resource for some of the best-known brands on the Internet. For more information, visit www.vindicia.com.
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