InfoSpace's Authorize.Net Selected as a ``Preferred'' Provider of Electronic Payment Processing by the University of California
Wednesday September 18, 8:29 am ET
SEATTLE--(BUSINESS WIRE)--Sept. 18, 2002--More than 1.3 million students and alumni of the University of California (UC), one of the largest and most acclaimed institutions of higher learning in the world, can now utilize the Internet and Authorize.Net(TM) to pay for books, athletic tickets and UC-branded goods, among others services and items available for sale within the UC system.
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Announced today at the Electronic Transactions Association 2002 Midyear Meeting & Expo in Seattle, UC selected InfoSpace, Inc. (Nasdaq:INSP - News), a provider of wireless and Internet software and application services, and its Authorize.Net payment processing platform, as a "preferred" provider to enable the processing of credit card transactions online.
"The University of California's selection of Authorize.Net as a 'preferred' provider of electronic payment processing is a strong endorsement of our technology and services," said Prakash Kondepudi, InfoSpace executive vice president, merchant. "There are a vast number of opportunities, which we are aggressively pursuing, for public and private sector organizations, including universities and colleges, to leverage the Internet for the processing of payments. The University of California is a solid example, as there is a tremendous opportunity to assist its numerous departments and programs' efforts to reduce costs and become more efficient by conducting commerce online."
Authorize.Net payment solutions enable merchants to authorize, settle and manage credit card and electronic check transactions, 24 hours a day via Internet-enabled servers, personal computers, and mobile devices. The service is offered through Authorize.Net's extensive network of more than 1,200 resellers as an IP-based payment platform to both financial institutions and merchant service providers, enabling them to offer payments services under their own brands.
About The University of California
The University of California, one of the largest and most acclaimed institutions of higher learning in the world, is dedicated to excellence in teaching, research and public service. Chartered in 1868 as California's only land grant institution, UC began classes in Oakland with 10 faculty members and 38 students. Today, the University, headed by President Richard C. Atkinson, has a $14-billion budget and encompasses 9 campuses, including Berkeley, Davis, Irvine, Los Angeles, Riverside, San Diego, San Francisco, Santa Barbara and Santa Cruz, five medical schools and teaching hospitals, three law schools and the statewide Division of Agriculture and Natural Resources. A tenth campus in Merced is in the planning stage. Also, UC manages three national laboratories for the U.S. Department of Energy. For more information about the University of California visit www.ucop.edu. |
