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PARTNERSHIP WITH ICVERIFY MAKES TABNET WORLD'S
LARGEST
Electronic Commerce Solution Provider
Joint Promotional Partnership and NetVERIFY Licensing Agreement Announced
NAPA, Calif., May 26 /PRNewswire/ -- TABNet, the world's largest Internet domain name
registrar and Web site hosting service, today announced that it has signed a joint
promotional partnership and licensing agreement with ICVERIFY, Inc., the international
leader in electronic transaction processing software. Under the terms of the agreement,
TABNet will provide turn-key commerce hosting and services-including ICVERIFY's
NetVERIFY(TM) payment processing software -- to 1,000 merchants conducting business
on the Internet. This partnership agreement, which is effective immediately, will make
TABNet the world's largest electronic commerce solution provider.
As a part of the agreement, ICVERIFY will leverage its long-standing relationships with the
financial community to promote TABNet's Internet commerce solutions to the business
customers of banks throughout North America. The agreement also calls for both
companies to participate in joint promotional activities and collaborate in marketing online
commerce solutions domestically and abroad. The two companies expect TABNet's
deployment of ICVERIFY's NetVERIFY software to grow well beyond the initial mark of
enabling 1,000 merchants.
"Our partnership with ICVERIFY is in keeping with the TABNet tradition of providing
businesses with the most complete electronic commerce solutions available," said Ken
Leonard, co-founder and CEO of TABNet. "With NetVERIFY, we now have an
industrial-strength payment engine that will allow our customers to control transactions over
a secure Internet connection."
NetVERIFY enables commercial Internet sites to accept all leading credit cards in
real-time, and allows merchants to initiate or edit transactions, invoke settlement, search
records, and generate payment reports at any time over the Internet. With direct
connections to the processing networks of over 99% U.S. banks and most major financial
networks in Canada, NetVERIFY offers unparalleled connectivity to companies doing
business on the Internet. To further enhance the security of the payment solution, TABNet
will utilize a proprietary fraud reduction system.
TABNet and ICVERIFY are both industry leaders in their respective sectors of electronic
commerce. TABNet currently puts more small businesses online per day than any other
Web hosting company, while ICVERIFY is the leading provider of payment processing
software for merchants in physical and virtual environments. ICVERIFY's position has been
further enhanced by its recently announced merger with CyberCash, Inc. By combining the
strengths of ICVERIFY with TABNet, management of both companies believe the
partnership will be of immense strategic significance to their growth.
"As the world's largest hosting provider, TABNet has demonstrated the ability to innovate
and build services that truly meet the needs of its commercial clients," noted Karen Tate,
vice-president of Internet markets at ICVERIFY. "Through our partnership with TABNet,
online businesses will reach their full marketing potential with the most cost-effective and
functional transaction processing solution available for electronic commerce today."
About TABNet Since its founding in 1995, TABNet of Napa, California has become the
world's leading domain name registration and web hosting service with over 65,000
customers worldwide and offices in North America, South America, Europe and Asia. The
TABNet family of products and services includes NetPayment(SM), the industry's leading
turn-key online payment system; QuickTools(SM), a suite of automated software tools for
interactive web site authoring; TABNet Design, a web site design service for small and
medium sized businesses; and NetAnnounce(SM), a full service web site marketing and
promotion service. TABNet enjoys strategic, co-branding marketing agreements with
industry leaders such as Excite, Inc., Infoseek, Inc., WhoWhere?, Inc., CoffeeCup
Software, Inc. and one of the largest financial associations in Europe, Bausparkasse
Schwaebisch Hall AG. Additional strategic partners include CyberCash's ICVERIFY
division, Network Solutions Inc., and Verisign, Inc. TABNet is a wholly-owned subsidiary of
NTX, Inc. a privately held corporation.
About ICVERIFY, Inc.
ICVERIFY, Inc. is a wholly owned subsidiary of Cybercash, Inc.,
with U.S. headquarters in Oakland, California and European headquarters
in Munich, Germany. Founded in 1989, the company is the leading
provider of software solutions for authorizing credit card, purchasing
card, debit/ATM card and check transactions for merchants. More than a
quarter-million points-of-sale including web commerce sites, Internet
service providers, retail stores and catalog companies use ICVERIFY's
software products. For more information about ICVERIFY, please visit
icverify.com. ICVERIFY is a U.S. registered trademark of
ICVERIFY, Inc.
SOURCE TABNet |
