RealTime IT News

NatWest and InterTrust Form Global Alliance To Provide E-Commerce On the Internet

The UK's National Westminster Bank and InterTrust Technologies Corp., of Sunnyvale, California, formed a global alliance to provide electronic commerce and digital information security over the Internet.

Within the alliance, NatWest has the right to use InterTrust's digital commerce and information security technologies for applications in unlimited vertical markets.

"This development is a natural extension for our Cards business and an integral part of our Group strategy," said Patrick Boylan, managing director, NatWest Card Services. "NatWest's knowledge of the payment industry, when combined with InterTrust's ground-breaking technology, will provide a one-stop solution to businesses seeking to sell and deliver their services via the Internet."

NatWest said it will be able to build on InterTrust's state-of-the-art technology, and use it to enable companies to sell digital products on the Internet and receive payment for them. NatWest--the inventor of Mondex--is already a leader in the areas of multi-currency acquisition services, stored value, loyalty, and multi-application smartcard technologies.

"This alliance represents a significant step forward for InterTrust toward becoming a global commerce utility," noted Victor Shear, founder, chairman, and CEO of InterTrust.

The vendor identifies its business succinctly by saying that its technologies "enable a digital trust environment where commerce in all of its complexities and subtleties is supported in digital form."

InterTrust announced its first two products in June of this year. They are: Commerce 1.0, for building, deploying, and managing digital commerce and enterprise applications, and Enterprise 1.0, for protecting digital information of any type.