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REDWOOD CITY and MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--
Feb. 28, 1997--VeriFone, Inc. (NYSE: VFI) and Netscape Communications
Corporation (NASDAQ: NSCP) today announced that they are expanding
the previously-announced relationship between the two companies for
offering joint electronic commerce payment solutions.
Netscape announced that it will support and endorse VeriFone's
vPOS Merchant Software and vGATE Internet gateway software as a
leading Internet payment solution for Netscape's customers. Netscape
and VeriFone also intend to work together to develop enhanced
versions of VeriFone vPOS Merchant Software for tight integration
with Netscape SuiteSpot server software.
The companies plan to market the enhanced products as an Internet
payment solution to Netscape's customers.
Merchants who set up virtual storefronts with Netscape SuiteSpot
server software will be able to acquire and to use VeriFone's vPOS
software for transaction processing. VeriFone's vPOS Merchant
Software allows merchants to accept and process credit card
transactions over the Internet, communicating directly with financial
institutions using VeriFone's vGATE Internet gateway software.
"This expanded relationship between Netscape and VeriFone builds
upon the proven solutions that are available to customers today,"
said George Hoyem, vice president and general manager of VeriFone
Internet Commerce Division.
"Our strong relationship with Netscape further reinforces
VeriFone's leadership in Internet commerce. VeriFone is committed to
working with our partners to offer merchants and financial
institutions complete, secure Internet payment solutions on volume
platforms such as Netscape SuiteSpot."
"Netscape's goal is to provide a broad range of payment solutions
for the Netscape software platform," said Mike Homer, senior vice
president of marketing at Netscape. "Together with VeriFone, we can
provide protected Internet payment solutions that are available today
and that will provide Netscape's customers with flexible, powerful
Internet commerce capabilities."
The Internet commerce market demands a combination of merchant
storefront and transaction technology. Building on its leading line
of Internet software, Netscape is working with VeriFone to expand the
range of payment solutions available to its customers.
The combination of Netscape and VeriFone products provides
solutions to merchants and financial institutions that allow
efficient and protected processing of high volumes of Internet
orders.
As a leading Netscape Internet payment solution provider,
VeriFone plans to offer end-to-end transaction solutions to Netscape
customers who are establishing Internet payment capabilities. This
will make it easy for existing or potential Netscape LivePayment
customers to transition to VeriFone's SET-ready products as an
alternative payment processing solution.
In addition, VeriFone plans to enhance its vPOS Payment Server
bundle to interoperate with Netscape SuiteSpot servers, providing
Internet merchants with additional flexibility, high encryption and
ease of use for Internet payment transactions.
As previously announced, the vPOS Payment Server combines
VeriFone's vPOS Merchant Software with Netscape Enterprise Server 2.0
as a standalone payment platform. The vPOS Payment Server is easy to
install and operate and can be integrated with a broad range of
merchant commerce server applications.
Netscape Enterprise Server 2.0 is currently included in
VeriFone's SET (Secure Electronic Transaction) Pilot product suite,
scheduled for installation in worldwide pilot programs later in 1997.
The SET protocol is currently being developed by Visa and
MasterCard as a standard for Internet payments. SET-ready versions
of vGATE and vPOS are currently being used by Wells Fargo Bank to
provide live Internet payment services to its Internet merchants.
Wells Fargo Bank merchants are now participating in the beta program
for vPOS Payment Server for Netscape Enterprise Server.
"Wells Fargo is committed to offering our customers the latest in
secure transaction technology, and the VeriFone-Netscape products
provide the cutting-edge Internet solution," said Debra Rossi,
senior vice president of Wells Fargo. "The VeriFone-Netscape
electronic payment suite allows Wells Fargo customers to stay ahead
of the curve and in front of the competition."
About Netscape
Netscape is a leading provider of Internet applications for
online commerce. More than 150 customers including @vantage from
Gartner Group, DAMARK International, Macromedia, National Geographic
Interactive, Recreational Equipment Inc. (REI), Spelling
Entertainment, SportsLine USA, Thomson & Thomson and Worldview
Travelocity are using Netscape Commercial Applications to deliver
exciting content, merchandise and services to consumers online.
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.
About VeriFone
VeriFone, Inc. (http://www.verifone.com), the leading global
provider of secure payment solutions, delivers electronic payment
systems to financial institutions, merchants and consumers, as well
as government agencies, healthcare providers and benefits recipients.
The Company's more than 30 facilities including regional offices,
development centers and manufacturing and distribution centers are
located throughout North and South America, Europe, Asia, Africa,
Australia and the Pacific.
VeriFone has shipped more than five million Transaction
Automation systems, which have been installed in 100 countries. The
Company's 1996 net revenues totaled $472.5 million.
Note to Editors: Additional information on Netscape
Communications Corporation is available on the Internet at
home.netscape.com, by sending email to moreinfo@netscape.com .
Corporate customers can call 415/937-2555 while consumers can call
415/937-3777 for more information.
Netscape is a trademark of Netscape Communications Corporation,
which is a registered in the United States and other jurisdictions.
The Netscape Communications Corporation logo and Netscape branded
products are also trademarks of Netscape Communications Corporation,
which may be registered in some jurisdictions.
VeriFone is a registered trademark of VeriFone, Inc. vGATE, vPOS
and vWALLET are trademarks of VeriFone, Inc.
All other products or company names mentioned are used for
identification purposes only, and may be trademarks of their
respective owners.
CONTACT: Netscape Communications Corporation
Andrea Cook, 415/937-6711
andreac@netscape.com
or
VeriFone, Inc.
Kimberly Kasper, 415/617-8000
kimberly_k1@VeriFone.com
or
Copithorne & Bellows
Alissa Bushnell, 415/975-2224
alissa.bushnell@cbpr.com
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