RealTime IT News

GlobeSet in OEM Deals with European E-Commerce Firms

GlobeSet, Inc., a provider of Secure Electronic Transaction-based (SET) software, announced today new OEM agreements with electronic commerce providers ParaRede in Portugal and WM-data in Sweden.

GlobeSet's SET software, which will be branded and marketed by ParaRede as "SafePay," is designed to handle secure credit card transactions over the Internet.

The companies said the technology will play a key role in ParaRede's global strategy for e-commerce in the home banking, virtual store, TV, cellular phone, and facsimile industries. ParaRede said it provides and maintains 70% of Portugal's EDI (Electronic Data Interchange) solutions in the business-to-business segment.

SafePay will incorporate four SET applications from GlobeSet: a "digital" wallet for cardholders; a merchant server application; a payment gateway application connecting the merchant to the payment processor's legacy systems for payment authorization; and a digital certificate application that generates and manages the digital identification certificates supporting SET-based, public-key encryption.

Under the alliance with WM-data, GlobeSet SET solutions will be offered to various Scandinavian clients, including the Swedish government. As part of its "State Office" paperless initiative, the Swedish administration is aiming to replace 80% of government paperwork with electronic messaging by the year 2003.

"The GlobeSet solution gives us a great opportunity together. With our solutions for Internet-based electronic commerce and GlobeSet applications, we can offer complete system solutions that also handle payment in a secure way," said Jan Olof Jnsson, Marketing Manager at WM-data. "What is important is that the GlobeSet solution offers a complete infrastructure for card payment and can be implemented in any financial organization."

The Secure Electronic Transaction standard, developed by Visa, MasterCard, GlobeSet, and others, has become the emerging standard for secure payment card transactions over the Internet.