Yahoo! Inc. Monday teamed
with Banc One Payment Services and First Data Merchant Services Corp. (FDMS)
to provide Yahoo!Store merchants with Internet credit card payment
capabilities.
The Yahoo!/FDMS agreement will provide credit card transaction processing for
Yahoo! Store merchants.
The companies co-developed a custom credit-card authorization interface
enabling secure and reliable transactions.
Banc One Payment Services is a joint venture between Bank One Corp., the
fourth largest bank holding company in the U.S., and First Data Merchant
Services Corporation (FDMS), a subsidiary of First Data Corporation.
Within 48 hours of building a virtual store, via
Yahoo! Store services, e-tailers can
accept credit card payment online. Processing services include authorization,
data capture and settlement services, as well as online reporting
capabilities.
Yahoo! Store, which debuted in June, provides management, tracking and
reporting tools that provide traffic and income source data. Commerce-enabled
stores can be created for $100 per month and up, depending on inventory size,
and join promotional programs offered through Yahoo! Store. Yahoo! Store is
available to U.S. retailers only.
“We continue to deliver useful tools and services to our more than 4,000
participating Yahoo! Store merchants to enable them to maximize the Web as a
place to conduct business and reach new customers,” said Ellen Siminoff, Yahoo!’s vice
president of business development and strategic services.
“In models offered by other merchant payment services providers, the
application process is cumbersome and can take up to six weeks to complete,”
said Jeff Neubert, Banc One Payment Services chief executive officer.
“By delivering this suite
of payment solutions to Yahoo! Store, merchants can quickly and easily
participate in the growth of electronic commerce and conduct transactions
online.”