Launches E-Payment Service

Electronic payment provider PaymentNet (previously Segue Systems) today announced general availability of its online automated payment processing service, as well as partnerships with five national vendors.

The PaymentNet Service, which will compete with CyberCash’s Cash Register offering, is designed to provide secure, single-source payment gateway and associated management services for real-time processing of multiple transaction types: credit cards, purchase cards, checks, electronic funds transfer, and others.

PaymentNet said the solution is designed to allow any merchant–large or small, ISP-hosted or self-hosted–to quickly begin accepting payment for products and services over the Internet.

Scott Williamson, Vice President Product Development with domain name registrar Network Solutions, Inc., which processes its Internet transactions using the PaymentNet service, said: “Critical to the success of our Internet-based activity is throughput capacity, system performance, processing response time and system integrity and reliability. PaymentNet’s service and the attention to details exhibited by their organization has made this program a success for our customers.” also announced today that The American Heart Association,
GolfWeb (a CBS SportsLine property), Value America and Virtual Vineyards also entered into agreements to use the service for their online transactions today.

Financial details were not disclosed.

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