News article received August 05, 1998 9:52:58 am EST
NETSCAPE: Thomas Cook launches Internet based intl
payments system with Netscape technology
AUG 5, 1998, M2 Communications - Thomas Cook announced that
it has today launched the UK's first Internet based international
payments system, utilising Netscape Directory Server
(www.fx4business.com/). The system is already operating
successfully in North America and is to be introduced in Australia
and France next month. In the UK, Thomas Cook expects to have
more than 300 businesses signed up to the service before the end
of 1998.
For a one off fee of GBP 295, any Thomas Cook commercial foreign
exchange (CFX) customer with a browser can access the service
from anywhere in the world simply by entering an account name
and password. Users are authenticated by Netscape Directory
Server. Whilst international payments are arranged over the
Internet, no banking details are divulged, minimising security risks.
Compared to traditional methods of ordering international payments
- by fax and by phone - this system is convenient, quick and
cost-effective.
To make a payment, all the customer need do is select the
beneficiary from the drop down menu, fill in the currency, fill in the
amount, select 'telegraphic transfer' or 'draft' and press send.
Though no bank details are divulged, all orders are automatically
encrypted.
Netscape Directory Server provides centralised administration of
user, security and configuration information for the system which
runs on the Sun Solaris operating platform. In the Thomas Cook
application, Netscape Directory Server stores both client and
beneficiary details, it authenticates users and logs client orders *
with date, time and rate of exchange at the time of the order. These
features allow customers to print out reports listing all the
transactions they have made with costs and rates of exchange. It
also allows templates to be generated for frequently placed and
batched orders * again saving a considerable amount of time.
Commenting on Thomas Cook's decision to choose Netscape
Directory Server, Patrick Harrison, head of sales, Thomas Cook
CFX, said: "We needed a robust server that would enable us to
deploy an effective real time international payments system. As we
are already working on the next version, we also needed a system
that is both scalable and future proof. Netscape Directory Server
meets all of these criteria."
Kevin Mannion, sales director for Netscape Communications UK
added, "This relationship demonstrates the value Netscape brings
to companies with leading Internet strategies. A single Netscape
Directory Server can manage millions of directory entries and
handle hundreds of queries per second * a vital requirement for
applications such as Thomas Cook's international payments
system. When combined with simple, centralised administration
across multiple Internet applications, there is no other directory
server that can match Netscape Directory Server to manage the
rapid development and deployment of Internet applications."
About Thomas Cook Commercial Foreign Exchange
Thomas Cook Commercial Foreign Exchange (CFX) was launched
in the UK in 1994. Since then, the business has doubled in size
every year, and CFX now makes and receives international
payments on behalf of more than 2,000 small to medium sized
businesses across the UK.
About Netscape
Netscape Communications Corporation is a leading provider of open
software for linking people and information over enterprise networks
and the Internet. The company offers a full line of clients, servers,
development tools and commercial applications to create a
complete platform for next-generation, live online applications.
Traded on NASDAQ under the symbol "NSCP," Netscape
Communications Corporation is based in Mountain View, California.
Netscape's European headquarters are in Paris, France.
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