The UK’s National Westminster Bank and InterTrust Technologies Corp., of Sunnyvale, California, formed a global alliance to provide electronic commerce and digital information security over the Internet.
Within the alliance, NatWest has the right to use InterTrust’s digital commerce and information security technologies for applications in unlimited vertical markets.
“This development is a natural extension for our Cards business and an
integral part of our Group strategy,” said Patrick Boylan, managing director, NatWest Card Services. “NatWest’s knowledge of the payment industry, when combined with InterTrust’s ground-breaking
technology, will provide a one-stop solution to businesses seeking to sell
and deliver their services via the Internet.”
NatWest said it will be able to build on InterTrust’s state-of-the-art
technology, and use it to enable companies to sell digital products on the
Internet and receive payment for them. NatWest–the inventor of
Mondex–is already a leader in the areas of multi-currency acquisition
services, stored value, loyalty, and multi-application smartcard
technologies.
“This alliance represents a significant step forward for
InterTrust toward becoming a global commerce utility,” noted Victor Shear, founder, chairman, and CEO of InterTrust.
The vendor identifies its business succinctly by saying that its
technologies “enable a digital trust environment where commerce in all of
its complexities and subtleties is supported in digital form.”
InterTrust announced its first two products in June of this year. They are:
Commerce 1.0, for building, deploying, and managing digital commerce
and enterprise applications, and Enterprise 1.0, for protecting digital
information of any type.