ATLANTA, May 23 (Reuters) - First Data Corp. (NYSE: FDC) and Entrust Technologies Inc. (NASDAQ: ENTU) said on Tuesday that each has invested an initial $10 million in cash to form a new company, PaymentWave, to deliver payment platforms and related products for business-to-business exchanges.
The joint venture company, PaymentWave, will facilitate secure, authenticated payments for buying and selling through electronic markets, which lets communities of buyers and sellers exchange goods and services.
Initially, both First Data, an electronic commerce and payment services company, and Plano, Texas-based Entrust, a security software developer, will commit employees from their companies to focus on building the jointly owned company and launching sales and marketing. |
