CYCH is a unique player in its field....!!!!!!
Company Press Release
CyberCash Technology Selected for Barclays 'ePDQ' Internet Payment System in United Kingdom
RESTON, Va.--(BUSINESS WIRE)--Dec. 21, 1998--CyberCash Inc. (Nasdaq:CYCH - news), the world leader in e-commerce payment technologies and services, announced today that Barclays Merchant Services has selected CyberCash's secure payment technology as the foundation of Britain's first bank-owned Internet payment system.
Barclays Merchant Services, which handles the credit and debit card purchases at over 125,000 shops and businesses across the UK, will offer ePDQ, a 'virtual' version of Barclays Merchant Services' PDQ point-of-sale terminals used by UK businesses to process credit and debit card transactions. ePDQ works in the same way as the point-of-sale terminals, but over the Internet.
''We are very proud to work with Barclays Merchant Services on this important project,'' said Bruce Wilson, executive vice president, global business development at CyberCash. ''Barclays Merchant Services has taken an important step in offering its customers the convenience of online shopping and adding to the dramatic worldwide development of electronic commerce.''
The ePDQ service is similar to CyberCash's innovative CashRegister Internet payment service already available to merchants in the United States. Merchants can provide a full, online shopping experience to their customers with the benefit of a payment service providing credit card payment authorization and settlement to their bank account. The service operates 24 hours a day, seven days a week, enabling sales to be competed with customers all over the world, regardless of differences in time zones.
''ePDQ provides the opportunity for UK businesses to begin trading online,'' said Tony Slater, sales and marketing director of Barclays Merchant Services. ''Security and credibility are important when accepting payments over the Internet, and ePDQ gives retailers greater piece of mind knowing established names such as Barclays Merchant Services and CyberCash are behind it.''
About Barclays Merchant Services
Barclays Merchant Services is one of the UK's largest acquirers and processors of plastic card transactions. In 1997 over 860 million purchases were made with credit and debit cards in retail outlets belonging to Barclays Merchant Services' 125,000 retail customers in the UK. Barclays Merchant Services operates the largest on-line, real-time bank-owned EFTPOS (Electronic Funds Transfer at the Point Of Sale) system in the UK with a PDQ terminal base of over 105,000.
About CyberCash
CyberCash is the world leader in secure, convenient payment technologies and services, enabling e-commerce across the entire market spectrum from electronic retailing environments to the Internet.
CyberCash provides a complete line of software products and services allowing merchants, billers, financial institutions and consumers to conduct secure transactions using the broadest array of popular payment forms. Credit, debit, purchase cards, cash, checks, smart cards and alternative payment types (e.g., ''frequent buyer'' or loyalty programs) are all supported by CyberCash payment solutions. Leading brands of CyberCash include ICVERIFY®, PCVERIFY™, InstaBuy™, CashRegister, NetVERIFY™, CyberCoin® and PayNow™.
CyberCash, Inc., headquartered in Reston, Virginia, USA, maintains a global presence with offices and joint ventures operating throughout North America, Europe and Asia.
CyberCash and the CyberCash logo are trademarks or registered trademarks of CyberCash, Inc. Visit the Company's web site at cybercash.com.
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