E-Commerce News

Disclaimer: This information comes from sources that cannot be verified. As such, make no assumptions about its completeness or accuracy. We endeavor to keep this information up to date as much as possible. Feel free to send comments/ updates to the Security News Editor.

E-Commerce News

EDS, HP, VeriFone to Offer Global E-Commerce Service

[November 4] EDS, Hewlett-Packard, and VeriFone Inc. announced a joint Internet service that will process credit card transactions for banks and financial institutions.

The ReadySet service will process banking transactions using EDS's payment processing system. VeriFone's vGATE Internet Gateway software, which includes support for the Secure Electronic Transaction (SET) protocol, will enable validation, decryption, and reporting activities. And the service will be hosted on HP's Enterprise Business Servers.

The EDS ReadySet system serves as an Internet payment gateway that integrates with any bank's existing credit card settlement processing system, eliminating the need for banks to develop their own payment processing gateway.

"For Internet commerce to grow rapidly, financial institutions must be able to provide the infrastructure necessary to service the merchant's need for secure transaction processing," said Paul Rudolph, president of Electronic Markets, EDS.

"With this service offering we can reduce the risk, cost and time associated with setting up Internet payment processing capabilities and support the financial institution's need for a single, standalone Internet processing source."