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RealTime IT News

Open Market, Verifone in Bundling Agreement

Electronic commerce software developer Open Market, Inc. and secure electronic payment provider VeriFone, Inc. today announced a bundling agreement combining VeriFone's vPOS software with Open Market's Transact product.

The integrated offering will be sold through Open Market's sales channels and will run on UNIX systems servers from VeriFone parent company Hewlett-Packard.

Open Market and VeriFone said the bundled solution is aimed at large Internet retailers and commerce hosts looking to employ the Secure Electronic Transaction (SET) protocol.

The incorporation of vPOS software into Transact links Commerce Service Provider (CSP) merchant customers with financial institutions more directly, so that CSPs will be able to add merchants without changing financial institutions.

In addition, vPOS software enables Transact to support multiple gateways by allowing transactions to pass through VeriFone's SET-compatible vGATE (gateway) and later reside at a financial institution.

"The combination of Open Market and VeriFone makes for a powerful solution that will lead the charge in driving secure payment transaction volume over the Internet," said Gary Eichhorn, president and CEO of Open Market. "Through this partnership, our customers will be able to use VeriFone's merchant software to route transactions to financial institutions around the world, safely and securely."

Earlier this month, Open Market announced new licensees for its Transact product including Business Week Online, Cable & Wireless, and PLATINUM Technology Inc.

Last week VeriFone announced a bundling agreement with VeriSign, under which VeriSign's SET digital certificate technology will be included with VeriFone's Internet payment solution.