Magazine article Information Today

First Data Brings Secure Payment Processing to the Internet

Magazine article Information Today

First Data Brings Secure Payment Processing to the Internet

Article excerpt

Netscape Communications Corporation (formerly Mosaic Communications Corporation), a provider of open software for the Internet, and first Data Card Services Group's Electronic Funds Services (EFS), the world's largest credit card payment processor, have announced an agreement that enables banks to provide merchants and users worldwide with a simple and secure means for electronic commerce on the Internet. Using Netscape Communications Netsite Commerce Server software, First Data and its member banks will provide the first real-time online card authorizations next month. This service will allow consumers around the world to begin purchasing goods and services via the Net using any major credit card.

First Interstate, Norwest Card Services, and Old Kent are among the first client banks to announce that they intend to offer the Internet-based transaction service to businesses wanting to accept online payment. The new service, which will be available for all major credit cards including Visa, MasterCard, Discover, and American Express will be free to consumers buying merchandise or services. It works in the same manner as today's mail or telephone order transactions, but without operator intervention,

"It is vital that payment services evolve along with techndlogy," said First Interstate senior vice president Randy Kahn. "This service provides a secure, easy-touse payment facility for the evolving information superhighway, an important step in the evolution of electronic commerce." First Interstate is the 14th largest commercial banking company in the U.S., with 1096 offices in 13 western states.

"First Data is pioneering a new era in business, one that will clear the way for electronic commerce to be conducted globally via the Internet," said Jim Clark, chairman and CEO of Netscape Communications. "The combination of First Data's payment processing expertise and our Netsite secure server will inspire a broad spectrum of businesses to create an online presence, giving consumer access to products ranging from airline tickets to office supplies to online service subscriptions, right from their desktops."

Netscape Communications' secure server technology will provide a reliable mechanism for businesses to sell their products and services securely over the network," said Scott Loftesness, executive vice president of First Data. …

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