VeriSign, Inc., the leading provider of Internet trust services, announced that eConnect, developer of eCashPad payment technologies, has signed an agreement with VeriSign to provide gateway services for its credit transactions and PIN entered debit transactions.
eConnect’s eCashPad terminal, similar to a supermarket swipe card terminal, will enable customers to make Internet purchases using credit cards or PIN entered ATM cards. The information in these transactions is encrypted and sent directly to the eConnect Bank Eyes Only System through VeriSign’s payment services gateway. No personal card data is stored at the merchant’s Web site.
Under the terms of the agreement, Web merchants wishing to be paid through an eCashPad “card present” credit transaction or PIN entered debit transaction, will first sign on with VeriSign which will then provide payment gateway services for eConnect’s “card present” originated transactions.
“VeriSign provides secure payment gateway services for the broadest range of Internet payment solutions,” said Chris Wynne, vice president of VeriSign’s payment services business. “We’re excited to work with eConnect to enhance its eCashPad services and enable more people to use the Internet with confidence.”
“This agreement gives eConnect the industry’s strongest gateway partner to ensure the security of our customers’ transactions as eConnect signs on Bank Eyes Only merchants,” said Thomas S. Hughes, chairman and CEO of eConnect. A Bank Eyes Only transaction is when no personal financial card data is stored at the merchant’s Web site.
eConnect’s eCashPad is a secured payment-processing device which connects to most computers and is designed to allow easy and secure credit card present transactions on the Internet. At $59.95, the eCashPad device represents a fundamental shift in Internet commerce whereby home devices will enable card present credit card payments and ATM card with PIN entry cash payments.
VeriSign delivers a real-time, highly scalable and reliable Internet payment platform that enables companies to authorize, process, and manage multiple payment types (including credit cards, debit cards, purchase or procurement cards, Internet checks and automated clearing house transactions), multi-currency options, and different payment models online. To safeguard the transmission of data, VeriSign uses the latest secure SSL encryption technology to ensure data safety.
Based in San Pedro, Calif., eConnect Inc. is focused on delivering next-generation e-payment solutions. The company develops proprietary hardware, software and transaction processing services.
VeriSign, Inc. is the leading provider of trusted infrastructure services to Web sites, enterprises, electronic commerce service providers and individuals. The company’s domain name, digital certificate and payment services provide the critical Web identity, authentication and transaction infrastructure that online businesses require to conduct secure e-commerce and communications. VeriSign’s services are available through its Web sites (http://www.verisign.com) or through its direct sales force and reseller partners around the world.