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Equifax Plans a Complete Online Payment Solution

Equifax Inc. said it plans to introduce Equifax PayNet Secure, a new online check and card payment solution.

The company said it plans to begin field trials of Equifax PayNet Secure for online check payments some time in the fourth quarter and offer Equifax PayNet Secure to the general marketplace in early 2000.

Equifax also said it plans to include an online credit card payment solution to Equifax PayNet Secure in 2000.

"Equifax PayNet Secure will mark a turning point in consumer and retailer attitudes about buying online," said Jeff Carbiener, general manager of Equifax Check Solutions.

"With Equifax PayNet Secure, consumers will be able to pay by check online using secure socket layer technology, never once touching pen to paper."

"E-tailers will be able to broaden their audience to reach 80 million of the 200 million check writers who do not carry credit cards," he said.

E-storefronts offering the Equifax PayNet Secure solution will display the Equifax PayNet Secure logo. Consumers will be able to register once and will be free to shop securely at any site displaying the Equifax PayNet Secure logo, the company said.

The service will use Equifax Secure eID Verifier, which uses next-generation technology to verify that online consumers are whom they claim to be.

Transactions will be approved within seconds and orders can be processed and shipped immediately, the company said.