RealTime IT News

CitX, Priority One Launch Net Payment System

CitX Corp. of Quakertown, PA, and its strategic partner Priority One Electronic Commerce Corp. of Akron, PA, launched Intrapay Funds Disbursement.

The product is a new e-commerce service that allows automatic disbursement of funds via the Internet.

The new network-centric service will permit businesses to pay vendors, employees, or taxes electronically using their Web browser and a special Internet-based middleware platform developed by CitX and NCR Corp.

The first application of Intrapay Funds Disbursement will be launched with Sibley Services Inc., of Philadelphia PA, which provides payroll and other accounting management services to small- and medium-sized businesses in the eastern region.

Sibley will offer the service to clients as a way to facilitate automatic direct deposit of payroll funds to employees.

"Intrapay Funds Disbursement is easy to use, works on any computer platform and requires no additional software to be purchased. All that is needed is Internet access and a JAVA enabled Web browser," said Bernie Roemmele, CEO of CitX. "We also plan on integrating automatic EDI translation support to enable utilization by EDI-based businesses without changing their legacy systems."

To use the Intrapay Funds Disbursement service, clients must have CitX build a private Web site platform called Intrapay and open an EFT cyberbank account with Farmers First Bank.

CitX provides a secure transaction system called SETX that enables automatic preprocessing of transactions, builds and maintains the Intrapay Platform, and provides all technical support.

Priority One handles the payment processing activities, data exchange with the banks, and customer account support. NCR will provide its Top End embedded middleware and computer servers to operate the SETX system. Pricing was not disclosed.