eWallet Signs Agreements with Beyond.com, Presents.com
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eWallet is a program that provides automatic user information to a shopping Web site. Consumers enter their billing and shipping information in their eWallet just once and when they encounter a checkout screen at an e-commerce site, they simply click on their wallet, enter their PIN and drag the credit card of choice over to the form. All of the credit card and shipping information is entered automatically. eWallet is designed to work at every e-commerce site on the Web.
The company also said that more than 100,000 consumers have downloaded the eWallet program since its launch about three weeks ago.
"We are enormously gratified at the consumer reaction to eWallet," said Bill Gross, CEO. "When we get this kind of response, we know that we've tapped into a huge need to deal with one of the largest barriers to shopping on the Internet--filling out credit card and shipping information every time you visit a new e-commerce site. We're currently seeing nearly 15,000 people a day downloading eWallet."
eWallet is stored securely on a user's PC, eliminating the need to go to a special Web site each time a consumer wants to use it. It is also compatible with all existing credit and debit cards, the company says.
eWallet is the latest business to spawn from idealab!, an Internet business incubator. Founded in March 1996 by entrepreneur Bill Gross, idealab! currently has more than 20 businesses including CitySearch, GoTo.com and eToys.