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Technology Stocks : CyberCash a buy? -- Ignore unavailable to you. Want to Upgrade?

To: PeterR1700 who wrote (2301)	11/22/1998 8:13:00 AM
From: chirodoc	Read Replies (2) \| Respond to of 3990

older article, but the summary is good The amount of money being spent on product purchases over the Web is increasing at a staggering rate. CyberCash, the Reston, Va.-based e-commerce software developer, wants to make it even easier – and faster – to buy over the Internet. The company's new InstaBuy Wallet eliminates the need to fill out a cumbersome form for each online purchase, allowing consumers to buy goods with a single mouse-click. When making an initial online purchase from a participating merchant, the consumer would type in the necessary information, such as his name, shipping address, and credit card number and expiration date. InstaBuy Agile Wallet captures that data, and a financial institution secures all consumer information at a central location. When the consumer makes a later purchase at any participating merchant's site, InstaBuy automatically fills in the screen with the payment information. The consumer then simply verifies the information and completes the purchase with a single click. According to CyberCash, InstaBuy is compatible with all major online store-builder backend products made by vendors like IBM, and will work with whatever standards-based security measures are deployed on a site. CyberCash estimates a third of the top 100 online stores must deploy InstaBuy in order to make it successful and worthwhile to consumers. To secure consumer confidence and to protect private information from being inappropriately disseminated, CyberCash says that deals are in the works with banks and other financial institutions to support InstaBuy Wallets, but the company has yet to close any such agreements. "I've been at online sites, ready to buy something, but get scared away because they want too much information," says Maureen Loftus, VP of corporate marketing and strategy at CyberCash. "[InstaBuy] will make the online shopping experience easier for the consumer, and boost the merchant's click-through rate without forcing them to redesign their site." Each InstaBuy-enabled site will include links to other sites deploying the technology. CyberCash is currently promoting InstaBuy to merchants as well as banks, and will release it in October, in anticipation of the holiday season.