RealTime IT News

Concentric Network, CyberCash Team Up

Concentric Network Corp., a provider of value-added IP network services, signed an agreement with CyberCash to enable Concentric to deliver a secure, real-time payment system to small- to medium-sized businesses establishing e- commerce Web sites.

San Jose, CA-based Concentric said it is the first commerce service provider to directly resell CyberCash services for processing Internet credit card transactions.

The new arrangement will streamline and simplify the process of bringing an e- commerce site online, making it easier and more cost effective for small and medium-sized businesses to take advantage of Reston, VA-based CyberCash's online credit card processing capabilities, the companies said.

When completed, the deal will allow small to medium-sized businesses to buy CyberCash's Internet payment services as part of Concentric's e-commerce solutions. Financial arrangements were not disclosed.

"We needed an Internet payment partner who demonstrates a similar commitment to making things simple for this marketplace," said Henry R. Nothhaft, chairman, president and CEO of Concentric Network. "CyberCash is a known leader in the online payment arena and this partnership is further proof of their leadership position."

"This partnership is a natural next step in the evolution of the way CyberCash distributes its service," said Nancy Goldberg, senior vice president at CyberCash. "Together, CyberCash and Concentric are taking the guess work out of doing business on the Web by providing everything a merchant needs to get started easily and safely in e-commerce."

Concentric provides complete, easy-to-use Internet networking solutions for small to medium sized businesses, including high-speed dedicated and DSL access, Web hosting and e-commerce services. For larger enterprises, the company offers customized virtual private network solutions.