VeriSign, webMethods Offer Trust Services for B2B Trading
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In a deal between B2B heavyweights, security provider VeriSign Inc. Tuesday agreed to meld its new trust services with webMethods Inc. B2B integration solutions to allow business to more safely trade with one another over the Internet.
Terms of the deal were not disclosed.
Through the bundling of webMethods' technology with VeriSign's B2B trust services, companies and their trading partners will be able to exchange digital credentials for real-time authentication of identity and privileges. They may also generate binding proof of electronic transactions through digital receipts and digital records.
VeriSign inked the $21-billion deal to offer its customers a more complete set of e-commerce products services by combining its security software with Network Solutions' giant database of domain names and Web development services.
VeriSign's deal with webMethod's points to its desire to best competition through the provision of online transaction security through public key infrastructure.
"Enterprises are embracing the Internet as a means to significantly lower costs and widen their trading networks, whether through their own extranets or through a new generation of global trading exchanges," said Stratton Sclavos, president and chief executive officer of VeriSign.
"Through these new B2B Trust Services, enterprises will now have the confidence to migrate key business processes -- such as RFPs, contract negotiations, ordering, invoicing, payment and settlement -- from the offline to the online world."
Digital receipt and dispute resolution services will be available within the next 90 days. Pricing depends on the application and is based on transactions and volumes under consideration.