News March 09, 08:28 Eastern Time
Go2Net's Authorize.Net and Planet Payment Formalize Joint Venture The Planet Payment Gateway Powered by Authorize.Net Offers Multi-Currency Internet Payment Solutions to Merchants Worldwide
PROVO, Utah and NEW YORK, Mar 9, 2000 /PRNewswire via COMTEX/ -- Authorize.Net
Corporation, (http://www.authorize.net), a leading payment authorization service
for online businesses, and Planet Payment, (http://www.planetpayment.com), the
leader in providing global payment solutions for an e-world, have launched a
joint venture to provide end-to-end payment solutions for online merchants
located outside of the United States and U.S.-based merchants who wish to
implement a non-U.S. or multi-currency Internet payment solution. Authorize.Net
is a part of the Go2Net Network (Nasdaq: GNET), (http://www.go2net.com).
Authorize.Net and Planet Payment have worked together to create one of the first
multi-currency Internet payment gateways, which will be marketed under the
Planet Payment(TM) brand, and will be powered by Authorize.Net. The Planet
Payment Gateway and Planet Payment's innovative Internet payment solutions will
allow online merchants everywhere the ability to accept credit card payments in
more than 140 currencies. The gateway is scheduled to be available in early
April, with applications for the services currently available via both the
Authorize.Net and Planet Payment Web sites.
"We see the Internet as the first truly global sales tool with multi-currency
payment options allowing online merchants to sell their goods and services
worldwide," said David O. Heaps, Authorize.Net CEO. "Our joint venture with
Planet Payment provides a solution for merchants everywhere who are faced with
the challenge of receiving online payments from international customers. We are
very excited about the opportunities that will stem from this relationship."
Authorize.Net currently provides payment solutions for more than 65,000 online
merchants. Of those merchants, there are many that wish to implement non-US or
multi-currency Internet payment solutions, and will directly benefit from this
joint venture.
"This agreement with Authorize.Net is another step in Planet Payment's
previously stated strategy to become the global leader in providing
multi-currency credit card payment solutions to merchants and institutions
everywhere," says Philip Beck, Chief Executive Officer of Planet Payment. "This
venture will help merchants worldwide with the most important issue they face --
the ability to get paid online in a secure environment as they conduct business
in the evolving and competitive electronic business environment."
According to eMarketer, an international research firm, the e-sales horizon is
shifting from U.S. dominance today toward equilibrium by 2003. In 1999, the U.S.
share of e-commerce revenues approached three-fourth's of the world's total. By
2003, however, the U.S. will only account for 53% of overall global revenues,
which are expected to top $1.2 trillion.
About Planet Payment
Planet Payment (http://www.planetpayment.com) provides e-businesses -- anywhere
-- with the ability to accept credit cards online, in real-time, in almost any
currency. To get up and running, e-businesses need a credit card merchant
account and secure payment gateway. To maximize the global opportunity presented
by e-commerce, merchants will need to accept payments in multiple currencies.
Planet Payment's affordable solution enables Internet merchants to accept
Visa(R), MasterCard(R), and American Express(R) credit cards and is compatible
with most shopping cart technologies using its state-of-the-art payment gateway
powered by Authorize.Net (http://www.authorize.net).
About Authorize.Net Corporation
Founded in 1996 and acquired by Go2Net, Inc. in July 1999, Authorize.Net
Corporation is the preferred payment-processing service for e-commerce,
providing secure, reliable and easy-to-use payment solutions that make the
Internet a new revenue opportunity for businesses of all sizes. These tools also
provide a smarter, faster, more economical method of transaction processing for
retail-based storefronts and the services industry. Authorize.Net has grown to
include more than 65,000 clients, using a network of more than 1,000 ISOs and
acquiring banks to resell its products and services. For more information on
Authorize.Net, visit (http://www.authorize.net).
About Go2Net, Inc.
Go2Net (http://www.go2net.com) is one of the Internet's leading networks,
providing consumer services, business services, and enabling services. The
company offers through the World Wide Web a network of branded properties and
aggregated content in the categories of search and directory, personal finance,
multi-player games, small business services and e-commerce solutions. The
company also develops Internet technologies for its own network and for license
to strategic partners. The Go2Net Network is home to many of the Internet's
leading vertical destinations, including: MetaCrawler, Silicon Investor, the
HyperMart Network, PlaySite, Dogpile and 100hot.
This announcement contains forward-looking statements that involve risks and
uncertainties, including those relating to the company's ability to grow its
user and advertiser base. Actual results may differ materially from the results
predicted and reported results should not be considered as an indication of
future performance. The potential risks and uncertainties include, among others,
the company's limited operating history, the competitive environment in which
the company competes, the early stage of the Web as an advertising and
electronic commerce medium, the company's dependence on advertising, sponsorship
and commerce revenues, the company's dependence on strategic relationships to
drive traffic to its Web sites, consumer acceptance of the company's new
products and services, the company's ability to develop and integrate new
technologies and services into its existing services and into new platforms,
such as broadband, and the increased use of the Web for commerce. More
information about the potential factors that could affect the company's business
and financial results is included in the company's Annual Report on Form 10-K
for the year ended September 30, 1999, which is on file with the Securities and
Exchange Commission.
SOURCE Go2Net, Inc.
(C) 2000 PR Newswire. All rights reserved.
http://www.prnewswire.com
CONTACT: Kendra M. Romley, Public Relations Manager of Go2Net, Inc.,
415-979-1402, or kendrar@go2net.com; or Gary Galati, Public Relations of
Planet Payment, 212-980-5100, or ggalati@emarketer.com
KEYWORD: Washington
Utah
New York
INDUSTRY KEYWORD: FIN
MLM
SUBJECT CODE: JVN
URL: planetpayment.com
authorize.net
go2net.com
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