In preparation for a holiday season that could see huge growth in the number of Web-based “e-tail” transactions, CyberCash, Inc. today announced the latest addition to its suite of e-commerce products.
The company is billing “InstaBuy” as a solution that simplifies online transactions for consumers by providing single-click purchasing functionality.
Currently in beta testing, the program is built on the CyberCash’s new Agile Wallet technology, and is scheduled to be available in time for the holiday shopping season.
InstaBuy is intended to give consumers the ability to buy with one click at
any participating merchant. The first time a consumer makes an online
transaction with a participating merchant, the consumer types in his
or her name, shipping address, credit card number and expiration date. The
information is captured in the InstaBuy Agile Wallet and secured by the
branding financial institution, the company explained.
When the consumer makes a purchase later at any participating merchant’s site, InstaBuy works to fill in the payment screen with the purchase information. The consumer simply verifies the information and completes the purchase with a single click, CyberCash said.
“We believe that InstaBuy will dramatically change the way consumers
buy goods and services on the Internet,” said Denis Yaro, executive vice president of CyberCash. “We provide a win, win, win solution for consumers, merchants and participating financial institutions.”
CyberCash stated it is in negotiations with several major financial institutions to brand InstaBuy for this holiday season, and is offering the service to all major online merchants nationwide. In the first phase of the InstaBuy rollout, the company said it will be working with its existing partners, including companies such as INTERSHOP, AnaServe and Plug & Pay Technologies.
Pricing was not disclosed.