RealTime IT News

Network Solutions Modifies Payment Policy

Network Solutions Inc. next week will implement a previously announced plan to require domain name seekers to pre-pay for their .com, .org or .net addresses.

The move ends the company's current invoice system in an attempt to discourage cybersquatters, who sometimes take domain names off the market but don't pay the bill.

"The benefit to legitimate Web address registrants is clear: thousands of Web addresses will be returned to the market as these non-paying entities are weeded out of the system," the company said in a statement.

With the new payment plan, those interested in registering domain names must provide credit card information, which will be billed before the domain name is turned over. For those who register many domains, Network Solutions (NSOL) will also offer a Business Account Program, which provides a template for registration and invoice system.

The plan was originally announced in July, coinciding with the opening of domain name registration to competitor companies. All accredited registrars already require prepayment, and Network Solutions is following suit.