Contender Emerging in Internet Wallet Sector
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Another Internet wallet service is in the works, one that not only automatically fills in merchant forms, but also offers features like helping to find what you want, organizing receipts and blocking unwanted marketing, all while protecting privacy.
Called Transactor Networks, the company recently received $5 million in venture capital from Draper Fisher Jurvetson. Its management team has been involved in the growth of e-commerce, including the development of Java and the formation of TRUSTe.
Transactor Networks worked with Citibank to sponsor and promote the initial W@llet pilot, called the CitiWallet. MBNA also offers the service.
The W@llet is the front end to Transactor Networks' e-commerce services. The W@llet stores personal and credit card information, as well as profiles of various online merchants.
When a customer wants to buy from one of the sites Transactor Networks supports, they call up the W@llet by clicking on a browser bookmark. The W@llet analyzes the merchant's site, and constructs a simplified, standardized point-and-click front-end for the customer.
Martinez previously founded two other software development enterprises and helped build Spectrum Holobyte, a privately owned $7 million company, into a publicly owned $300 million corporation.
CTO Ted Goldstein was head of commerce at Sun Microsystems and a contributor to the development of the Java Card, Java Ring and Java Wallet.