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InfoSpace's Authorize.Net Names Bankcard Payment Industry Veteran Gregg Gumbinger as Vice President of Business Development
Business Editors
LAS VEGAS--(BUSINESS WIRE)--April 9, 2003--InfoSpace, Inc. (NASDAQ:INSP), a provider of wireless and Internet software and application services, today announced the addition of Gregg Gumbinger as vice president of business development for Authorize.Net(TM), InfoSpace's payment processing platform.
Gumbinger brings more than 20 years of bankcard payment and e-commerce experience to InfoSpace and Authorize.Net. He will focus on developing relationships with the card associations, credit card processors and acquiring institutions. Gumbinger will also be responsible for identifying new and emerging business initiatives within the bankcard industry.
"Gregg will play a vital role in our drive towards better aligning Authorize.Net with the leaders in the bankcard industry," said Prakash Kondepudi, InfoSpace executive vice president, merchant. "His extensive knowledge and unique experience in the payments space makes him a perfect fit as we look to extend our market share through new business opportunities and strategic relationships."
Previously, Gumbinger spent 15 years at Visa USA and headed up the Strategic Marketing Group within the Internet Services Division at First Data Merchant Services (NYSE:FDC). He has also held the positions of director of business development at ClearCommerce; vice president of marketing at HomeAccount Networks; and was most recently director of business development and marketing at Indivos Corp.
Authorize.Net payment solutions enable merchants to authorize, settle and manage electronic transactions, 24 hours a day, via Internet-enabled servers, personal computers, and mobile devices. The service, with more than 170,000 account sign-ups and 76,000 active merchants today, is offered through Authorize.Net's extensive network of more than 1,300 resellers as an IP-based payment platform to both financial institutions and merchant service providers, enabling them to offer payment services under their own brands.
About InfoSpace, Inc.
InfoSpace, Inc. (Nasdaq:INSP) provides wireless and Internet software and application services. The Company develops software technologies that enable customers to efficiently offer a broad array of network-based services under their own brand to any device. InfoSpace corporate information can be found at infospaceinc.com.
This release contains forward-looking statements relating to the development of InfoSpace, Inc.'s products and services and future operating results, including statements regarding InfoSpace's processing agreement with First National Bank of Omaha, that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect InfoSpace's actual results include the progress and costs of the development of our products and services and the timing of market acceptance of those products and services. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in InfoSpace's most recent Quarterly Report on Form 10-Q, in the section entitled "Factors Affecting Our Operating Results, Business Prospects and Market Price of Stock." Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. InfoSpace undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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CONTACT: InfoSpace, Inc.
425/709-8167
pr@infospace.com
SOURCE: InfoSpace, Inc. |
