VeriSign unveils new range of wireless payment services

[February 22nd 2001]

VeriSign is to introduce a new range of Wireless Payment Services, allowing mobile users, merchants, carriers, financial institutions and enterprises to conduct payment transactions over the wireless Internet. VeriSign's new Wireless Payment Services include a managed payment gateway for WAP servers; network-based profile management to simplify the user purchase experience and facilitate authenticated payments; and wireless point-of-sale solutions which transform a wireless handset into a virtual payment terminal.

"Advances in mobile commerce provide merchants and enterprises with the ability to deliver high-value services to their customers in an 'anytime, anywhere' manner," said Stratton Sclavos, President and CEO of VeriSign. "Now, the 15,000 merchants, buyers and suppliers currently using our "wired" Internet payment services-along with new customers looking to payment-enable their mobile sales forces-will be able to leverage our utility-like infrastructure to process transactions seamlessly over mobile networks."

The new services include:

Managed Wireless Payments Gateway -- allowing online merchants to process payments from a WAP server in the same manner as from a Web server through the wireless version of VeriSign's Payflow Pro software development tool kit (SDK). Payflow Pro will be extended to provide wireless markup language (WML) integration. The Managed Wireless Payments gateway will provide retail merchants, portals and content providers with a payment service that seamlessly transfers payment details securely from wireless devices through to the payment processor for settlement;

Network-based Profile Management -- enabling end users to manage their account and payment details, including name, bill-to address, ship-to address, payment types, account numbers, and other personalized attributes -- all securely stored by VeriSign on behalf of a wireless operator, merchant, service provider, or individual user. The profile management solution can also be tied to merchants' existing account management solutions. Both deployment models allow users to make purchases without having to re-enter personal information onto small mobile keypads and also utilize digital certificates and digital signatures for secure and trusted wireless transactions. VeriSign's Network-based Profile Management service will be available via a fully managed outsourced solution for a wireless operator, merchant, service provider, or individual user, enabling them to leverage VeriSign's highly scalable, robust and fully-redundant secure databases. VeriSign will provide an XML-based application programming interface (API) to integrate with these services; and

Wireless Point of Sale (WPOS) services -- transforming handsets carried by mobile sales forces, delivery persons and other field personnel into virtual payment terminals. These services will enable virtually any service-oriented company to equip their employees or representatives to accept payment when and where they deliver a service. For example, with a WAP-enabled terminal in hand, a repair person can submit a customer's payment information for authorization right from the customer's home, providing convenience for the customer and greater operating efficiencies and profit for the repair company. Capitalizing on the company's Internet-based payment infrastructure, VeriSign's new Wireless Payment services enable merchants to leverage their existing bank and processor relationships, user account management procedures and electronic check processing, thus extending their reach into wireless commerce. VeriSign connects to all major processing networks including First Data (FDMS), Nova, Vital, EDS, Paymentech and Telecheck and has a direct connection in to American Express. In fact, 15,000 merchants, buyers and suppliers use VeriSign to process credit cards and online checks today and will now be able to leverage the wireless version to process transactions seamlessly over mobile networks.

Other key benefits of VeriSign's Wireless Payment Services will include:

• Unlimited credit card and Internet check transactions;
• The ability to accept multiple payment types including credit cards, purchase cards, debit cards, ACH, and Internet checks;
• Easy installation and integration, requiring no complicated code or configuration;
• A high-security, fully redundant, data center;
• Customizable back office reporting tools for efficiently managing and tracking online payments; and
• Customer service 24 hours a day

Links
VeriSign		http://www.verisign.com