RealTime IT News

CyberCash Expands InstaBuy Service

CyberCash Inc. said it will offer its InstaBuy one-click shopping service to thousands of existing customers as an integral part of its CashRegister service.

The company recently released an updated merchant connectivity kit that allows merchants to use both services.

The CashRegister service allows merchants to accept secure payments from the Internet, fax or telephone using payment cards, PayNow electronic checks and other payment types. The service currently processes over 3 million transactions per month, according to CyberCash.

"Since last May, we have more than tripled the number of merchants using the CashRegister service," said Nancy Goldberg, executive vice president at CyberCash. "The reason for this is the extraordinary commercial appeal of the Internet and the broad availability of the CashRegister service. CyberCash is able to help merchants begin to build a business online. But we want to go further. We want to help them succeed by growing their revenues, and InstaBuy can do that."

CyberCash began deploying InstaBuy earlier this year. The e-commerce offering is designed to give merchants the ability to offer one-click shopping that increases sales by making the purchase process automatic and safe for consumers. CyberCash plans to add more revenue enhancing services to the InstaBuy platform in the coming weeks.

Consumers can sign up for a free electronic wallet at any InstaBuy-enabled merchant site or at the InstaBuy Web site. Once registered, the consumer can use the one-click service at all of the major merchant sites on the Internet.

Current CyberCash CashRegister merchants will receive the service if they register before Oct. 1. Also, new merchants signing up for the CashRegister service between these dates will receive the InstaBuy service without additional charge.