MBNA, a leading independent credit card lender, and CyberCash this week launched the MBNAbuy service.
The electronic wallet service is designed to store customer payment,
shipping, and purchase information on a secure electronic server to allow
safe completion of online transactions.
MBNAbuy allows customers to make one-click purchases at any Web page that
displays the CyberCash InstaBuy logo. It uses industry standard
Secure Sockets Layer (SSL) technology and 128-bit encryption along with
two-part consumer
authentication to ensure customer information security. The stored
information allows shopping without having to repeatedly fill out credit card
and shipping information for each online store.
Financial arrangements between the companies were not disclosed.
“As our customers become increasingly active on the Internet, we want that
experience to be as safe, secure, and easy as possible,” said John Cochran, executive vice chairman of MBNA. “Electronic wallets
allow us to achieve these objectives.”