(BSNS WIRE) CyberCash and First USA Team to Provide InstaBuy Service to
CyberCash and First USA Team to Provide InstaBuy Service to Merchants and
Consumers
Business/Technology Editors
RESTON, Va.--(BUSINESS WIRE)--Oct. 15, 1998--
CyberCash and First USA Make Easy, Safe One-Click Shopping
Across Internet A Reality
CyberCash, Inc. (Nasdaq:CYCH), the world leader in e-commerce
payment technologies and services, and First USA, one of the nation's
leading credit card issuers, announced today the companies are teaming
to offer merchants and consumers the new InstaBuy(TM) Service
developed by CyberCash.
InstaBuy, which is built on CyberCash's new Agile Wallet(TM)
Platform, makes online shopping easier and more convenient for
merchants and consumers by providing one-click shopping at any online
merchant site using the InstaBuy Service.
With InstaBuy, merchants are expected to see an increase in
revenue as a result of higher online customer acquisition/retention
rates and an improved customer conversion rate. Because of the
ease-of-use and trusted nature of InstaBuy, consumers are more likely
to shop at merchant sites enabled with the service. More importantly,
consumers are more likely to make a purchase, increasing the
merchants' conversion rate and revenue.
"First USA is continually striving to find new ways to provide
consumers with high value financial products and services," said James
W. Stewart, executive vice president, partnership and internet
marketing, First USA. "Through our relationship with Cybercash, we can
now offer Cardmembers increased convenience to conduct online
purchases, while providing our merchant partners a valuable tool to
remove the barriers that inhibit Internet sales."
"We are very pleased to have First USA as a partner in InstaBuy,"
said Bill Melton, CyberCash president and chief executive officer.
"First USA is a highly respected player in the credit card industry
and has demonstrated time and again its innovate approach to
marketing. It's not surprising that First USA has decided to become
the first financial institution to use the Internet in a dramatic way
to increase its business and define itself in the virtual world."
With InstaBuy, merchants can enable the service as a stand-alone
CyberCash service or as an integrated component of the CyberCash
CashRegister service, the leading real-time Internet payment
processing solution. Either way, InstaBuy gives consumers the ability
to buy online with one click convenience at any participating merchant
site.
"Merchants have been saying over and over and over, that they
want a service that is easy to use, safe and will attract customers to
their sites and keep them there. InstaBuy offers unparalleled
convenience and security," said Denis Yaro, executive vice president
of CyberCash.
At the time of an online purchase with a participating merchant,
the consumer is asked to type his or her name, shipping and billing
information, credit card number and expiration date, which is stored
in the InstaBuy wallet. When the shopper makes a purchase later at any
InstaBuy enabled merchant site, the InstaBuy information is
automatically provided. The consumer simply enters their password and
completes the purchase with a single click of a mouse.
"It is not an exaggeration to say that InstaBuy is exactly what
most merchants have been looking for to make Internet commerce
successful. When you are able to couple convenience and safety in a
way that increases business for merchants, you have a winning
proposition." said Melton.
First USA (www.firstusa.com), a subsidiary of BANK ONE
CORPORATION, is a financial services company specializing in the
credit card business and is among the largest providers of Visa,
MasterCard and private-label credit cards in the nation. First USA has
partnerships with more than 1,300 premier organizations including:
Yahoo, Excite, America Online, Arizona State University, the
University of Tennessee, Yale University, Marriott, United Airlines
and AARP. First USA has approximately 43 million cards issued and
$41.6 billion in total loans outstanding.
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(R), PCVERIFY(TM),
CashRegister(TM), NetVERIFY(TM), CyberCoin(R) and PayNow(TM).
--30--de/ny*
CONTACT: CyberCash, Inc.
Tom Calcagni
Director, Corporate Communications
703/715-7837
tcalcagni@cybercash.com
or
First USA
Jeff Unkle
Corporate Affairs
302/594-8233
jeffunkle@firstusa.com
KEYWORD: VIRGINIA
INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET PRODUCT
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