VRIO - It's settling a little now but I'm glad it finally got untracked... should do well today.
More news... Headline: Verio Takes E-Commerce Global with Multi-Currency Solutions from
CyberSource
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Removing the Barriers of International E-Commerce, New Solutions are Capable
of Processing and Settling Transactions in 29 Different Currencies
ENGLEWOOD, Colo., April 26 /PRNewswire/ -- Verio Inc. (NASDAQ:VRIO), the
world's largest domain-based Web-hosting company and a leading supplier of
e-commerce services, today announced an agreement with CyberSource(R), a
leading supplier of e-commerce transaction services, to offer international
electronic commerce solutions capable of processing and settling on-line
transactions in 29 currencies. Under the agreement, Verio will resell
CyberSource's multi-currency payment processing services through Verio's
distribution channels, including its network of more than 4,000 resellers
worldwide. CyberSource provides multi-currency payment services through
partnerships with IBM Global Merchant and National Westminster (NatWest) Bank.
CyberSource's e-commerce payment-processing gateways will be offered with
Verio's leading Web-hosting services to provide a comprehensive e-commerce
solution for the burgeoning international marketplace. "Internet commerce
will grow from $50.4 billion worldwide in 1998 to more than $1.3 trillion in
2003," forecasts IDC senior analyst Paul Johnson. "While commerce in regions
outside of the United States accounts for just 26 percent of the total
Internet commerce market in 1998, that number will increase to 46 percent by
2003, totaling $610 billion."
CyberSource's global e-commerce services include powerful payment-
processing capabilities for settling in up to 29 international currencies.
The solutions provide real-time international e-commerce transaction
processing that enables merchants to present products on their Web sites in
multiple currencies, while allowing shoppers to buy products in a familiar
currency. Once completed, the transactions are reflected in the appropriate
settlement currency on shoppers' credit card bills, and merchants receive the
funds in their own settlement currency of choice. What's more, merchants will
be able to process international transactions without managing complicated
currency conversions themselves.
"To date, the global e-commerce market has been stymied by a lack of
coordination, multiple competing currencies, and technology limitations," said
Herb Hribar, president and chief operating officer of Verio. "With this new
offering, Verio and CyberSource together are removing the major barriers to
entry for international e-commerce by delivering a solution that allows
businesses to do what they do best -- sell goods and services -- regardless of
geography or currency." Hribar added, "These services are exactly what our
4,000 international resellers have told us they need to help their customers
get their businesses online."
"As the world's largest Web-hosting company, Verio is playing a critical
role in the international growth of electronic commerce," said Tony Bates,
executive vice president and international general manager of CyberSource.
"With its large international network of resellers in 170 countries, Verio is
an outstanding channel partner for CyberSource and a true leader in the
proliferation of international e-commerce."
Integrated into the Verio Web-hosting platform by CyberSource, the
processing gateways provide real-time credit card processing for VISA,
MasterCard, JCB, American Express, and Diner's Club transactions.
International currencies supported by the CyberSource solutions include the
Austrian Schilling, Australian Dollar, Belgian Franc, Canadian Dollar, Swiss
Franc, German Mark, Danish Krone, Spanish Peseta, Euro, Finnish Markka, French
Franc, British Pound, Greek Drachma, Hong Kong Dollar, Irish Punt, Indian
Rupee, Italian Lira, Japanese Yen, Malaysian Ringgit, Dutch Guilder, Norwegian
Krone, New Zealand Dollar, Philippine Peso, Pakistan Rupee, Portuguese Escudo,
South African Rand, Swedish Krona, Thai Baht, and U.S. Dollar.
Available June 1, 1999, Verio's new international e-commerce services
integrate with a number of storefront management applications, including
Mercantec's upcoming SoftCart 5.0(TM). Retail pricing for the combined
Web-hosting and e-commerce solution begins at $50 per month, with an
additional one-time set up fee. Retail pricing for Verio Web-hosting plans
may vary.
About CyberSource
CyberSource is a global provider of eCommerce transaction services that
enable Internet merchants to securely conduct business online in real time.
Powering the buy buttons of over 400 leading web merchants worldwide,
CyberSource provides mission-critical reliability and a full suite of merchant
controlled, real-time services that go well beyond a payment gateway --
including global tax calculation, fraud screening, delivery address
verification, export and territory management, fulfillment notification, and
digital goods delivery. CyberSource's customers include Beyond.com, Buy.com,
BuyDirect, CBS MarketWatch, CitySearch, CDSource, CobWeb, Egghead, Hotmail,
Intuit, Liquid Audio, MetaCreations, Novell, Playboy, Qualcomm, and
Shopping.com. Founded in 1994, CyberSource is a privately-held company
headquartered in San Jose, California and maintains offices in the United
States and Europe, along with a network of virtual data centers around the
globe to service local markets.
About Verio Inc.
Verio Inc. is the world's largest domain-based (e.g. yourcompany.com)
Web-hosting company and a leading provider of business Internet services.
With an emphasis on serving the small and mid-sized business market, the
company offers customers the critical services they need to compete in the new
world of business: high-speed Internet access, Web site hosting, electronic
commerce, virtual private networks, and other enhanced services. Verio
supports its operations with a highly reliable and scalable national
infrastructure including a tier one national network and delivers locally
based sales and engineering support in 41 of the top 50 U.S. markets. The
company also provides Web-hosting services to customers in more than
170 countries and operates an international network of more than 4,000
resellers.
For more information on Verio, visit the company's Web site at
www.verio.com. The corporate headquarters are located in Englewood, Colorado
at 8005 S. Chester St., Suite 200, 80112, phone number 303.645.1900.
Except for the historical information contained herein, certain matters
set forth in this press release concerning Verio are forward-looking
statements within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
are subject to risks and uncertainties, including but not limited to
fluctuations in operating results, additional capital requirements,
competition and integration of acquisitions, and implementation of network
infrastructure. Readers are also encouraged to refer to Verio's reports from
time to time filed with the Securities and Exchange Commission, including the
Company's Current Annual Report on Form 10-K filed on March 31, 1999, for a
further discussion of Verio's business and risk factors that may affect
operating and financial results.
SOURCE Verio Inc.
-0- 04/26/99
/CONTACT: Media: Paul Lonnegren of Clarus Public Relations,
303-296-0343, ext. 241, paul@claruspr.com; or Investor Information: Whitney
Fogt of Verio Inc., 303-645-1921, investors@verio.com; or Marguerite Padovani
of CyberSource Corporation, 408-260-6058, padovani@cybersource.com/
/Web site: newsroom.verio.net
/Web site: investors.verio.net
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