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E-Commerce News

E-Commerce News

VeriFone Unveils SET 1.0-Based Products

[October 28] VeriFone, wholly owned subsidiary of Hewlett-Packard, announced today the first of its shipments of SET 1.0-compliant electronic commerce products.
VeriFone, developer of Internet payment solutions, including vGATE, vPOS, and vWALLET, now offers product support for the Secure Electronic Transaction (SET) protocol developed by Visa International and MasterCard.
In conjunction with the shipment of these SET-compliant products, VeriFone announced a number of leading banks and payment processors from around the world will begin implementing its payment solutions.
Processors such as First USA Paymentech in North America, GZS in Germany, SSB in Italy, NETS in Singapore, and FDR in the UK, as well as U.S. banks Wells Fargo Bank and Bank America Merchant Services Inc. announced they will adopt VeriFone's payment system. The Royal Bank of Canada, Sumitomo Credit Services of Japan, Garanti Bank of Turkey, and Caja Rural de Almeria in Spain will also support the VeriFone SET solutions.
VeriFone reports its payment suite is also compatible with SET certificate authorities, VeriSign and GTE CyberTrust.
"The combination of a VeriFone SET 1.0 solution integrated with VeriSign certificate services, will allow banks and financial institutions a simplified, turn-key implementation for deploying merchant and cardholder services," said Stratton Sclavos, president and CEO of VeriSign.