Equifax Plans a Complete Online Payment Solution

Equifax Inc. said it plans to introduce
Equifax PayNet Secure, a new online check and card payment solution.

The company said it plans to begin field trials of Equifax PayNet Secure for
online check payments some time in the fourth quarter and offer Equifax
PayNet Secure to the general marketplace in early 2000.

Equifax also said it plans to include an online credit card payment solution
to Equifax PayNet Secure in 2000.

“Equifax PayNet Secure will mark a turning point in consumer and retailer
attitudes about buying online,” said Jeff Carbiener, general manager of
Equifax Check Solutions.

“With Equifax PayNet Secure, consumers will be able
to pay by check online using secure socket layer technology, never once
touching pen to paper.”

“E-tailers will be able to broaden their audience to reach 80 million of
the 200 million check writers who do not carry credit cards,” he said.

E-storefronts offering the Equifax PayNet Secure solution will display the
Equifax PayNet Secure logo. Consumers will be able to register once and will
be free to shop securely at any site displaying the Equifax PayNet Secure
logo, the company said.

The service will use Equifax Secure eID Verifier, which uses next-generation
technology to verify that online consumers are whom they claim to be.

Transactions will be approved
within seconds and orders can be processed and shipped immediately, the
company said.

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