Magazine article American Banker

Global in More Than Name: French, U.S. Software Firms Form Alliance

Magazine article American Banker

Global in More Than Name: French, U.S. Software Firms Form Alliance

Article excerpt

GlobeSet Inc. of Austin, Tex., and GlobeID Software of Paris, France, may soon have more than their names in common.

GlobeSet, a leader in secure payment software, announced a strategic alliance agreement with GlobeID, an affiliate of the Bull Group with ambitious plans to sell what it calls "world-class" home banking and electronic commerce technology.

GlobeID said Monday it had signed a memorandum of understanding to link its GlobeID Banking package with the GlobeSet Payment System.

Each company offers a "suite" of software covering a range of on-line transaction needs. They could converge in an even more inclusive, globally available product line extending from home banking to virtual cash, with a smart card option for payment and authentication.

GlobeID, a company once known as GC Tech that struggled and was recapitalized last year by Bull and a management group called Edeltrust, is currently releasing its Banking 2.0 software.

With several modules-including Home Banking Handler, Internet Payment Handler, and Financial Electronic Data Interchange-it is designed to support a comprehensive electronic banking and commerce service.

GlobeSet Payment System's components-a virtual wallet, GlobeSet POS for merchants, a payment gateway, and CA, or certificate authority-are built around the credit card industry's Secure Electronic Transactions, or SET, protocol.

GlobeSet's products tend to be embedded in other companies' services under their names. …

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