Date: Fri, 14 Jul 1995 03:42:07 -0700 From: Davidwfox@eworld.com To: www-buyinfo@allegra.att.com, e-payment@bellcore.com Subject: Checkfree/Cybercash Press release
CHECKFREE AND CYBERCASH JOIN FORCES TO DELIVER COMPREHENSIVE ELECTRONIC COM
Consumers can conduct Internet transactions using checks, credit cards or cash
BOSTON, July 13 /PRNewswire/ -- Checkfree Corporation and CyberCash, Inc. announced today at the Interactive Services Association conference that they will cooperatively develop and market products and services that will allow consumers to safely conduct payment transactions, in real time, over the Internet using credit cards, debit cards, checks or cash. Checkfree, the nation's leading provider of electronic commerce services, will license technology from CyberCash, a leader in secure, end-to-end Internet payment systems. Checkfree will integrate CyberCash's high level security features and ability to conduct cash transactions into the Checkfree Wallet(TM), creating a single solution for electronic payment transactions that offers checks, credit cards, cash, coin or micropayments. "Partnering with CyberCash was the logical choice for Checkfree," says Pete Kight, founder and CEO of Checkfree. "Checkfree is committed to leading the way for electronic commerce, and providing plug and play Internet transaction solutions. The Checkfree Wallet(TM) is now an even more attractive transaction platform for both consumers and merchants." The Checkfree Wallet(TM) was introduced in April to allow consumers to purchases goods and services from on-line merchants in a safe, convenient and familiar manner. The Checkfree Wallet(TM) does not require prior registration with merchants, and on-line shoppers pay no fees or transaction service charges. With the addition of CyberCash's technology consumers will be able to utilize cash securely over the Internet and merchants will receive authorization in real time. In addition, merchants will be able to accept payments from any on-line consumers, regardless of the server or browser they are using. "Checkfree's long, successful record of developing applications for home banking and electronic bill payment is a perfect complement to CyberCash's secure Internet transaction and electronic cash expertise," said Magdalena Yesil, vice president of marketing for CyberCash. "Together we can offer a complete array of payment tools that allow consumers to conduct spontaneous transactions and pay bills via the Internet." Checkfree and CyberCash will focus on developing products that can be easily integrated into any browser system and merchant server. The new Internet transaction product offering, which will be co-branded by Checkfree and CyberCash, is scheduled for release this fall. The product will initially be available free-of-charge via NetCom's NetCruiser Internet browser as well as other leading Internet browsers. Merchant interest to date also includes ID Software, the developers of Doom(TM).
About CyberCash CyberCash, Inc. of Reston, Virginia, was founded in August 1994 to partner with financial institutions and providers of goods and services to deliver secure Internet payment systems. The CyberCash approach is based on establishing a trusted link between the seeming unpredictable world of cyberspace and the traditional banking world. CyberCash serves as a conduit through which payments can be transported easily, safely and instantaneously between buyers, sellers and their banks. The CyberCash system operates on top of any general security system such as SSL or Secure HTTP. CyberCash beta software is currently available free-of-charge and can be downloaded from the company's WWW server at http://www.cybercash.com. The company's initial service that accepts payments using any major credit card is scheduled for full commercial deployment this summer. Electronic cash services are expected by the end of 1995. CyberCash's principal founders, Bill Melton and Dan Lynch, have brought together a team with unparalleled experience in credit card and debit card automation, internet telecommunications and security. In April, CyberCash was chosen by Interactive Age as one of the 100 Best Business Web Sites. For further information about CyberCash, access its WWW server or call 800-9CYBER1.
About Checkfree Checkfree Corporation, the nation's leading electronic commerce company, last year processed more than $6 billion in payments for consumers and corporate clients, with more than six million consumers and one million businesses benefiting from its services. Checkfree serves consumers, business and financial institutions with a wide array of product and service offerings, each finely tuned to the specific needs of its users. All leverage Checkfree's extensive technology infrastructure which includes its patented and proven electronic bill payment system. Founded in 1981, Checkfree Corporation is headquartered in Columbus, Ohio, where it employs 370 full-time associates. Checkfree is privately held. For additional information about Checkfree, access its worldwide web server at: http://www.checkfree.com -0- 7/13/95 /CONTACT: Jennifer Sims, 415-904-7070, ext. 275 or <jsims@accesspr.com>, or Nicol Davis, 415-904 7070, ext 281, or <ndavis@accesspr.com>, both of Access Public Relations, for Checkfree; or Susan Ice of Thomas Associates, 415-325-6236, or susani@thomaspr.com for CyberCash, Inc./
----------------- Robert Hettinga (rah@shipwright.com) Shipwright Development Corporation, 44 Farquhar Street, Boston, MA 02131 USA (617) 323-7923 "Reality is not optional." --Thomas Sowell
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