Here's the Netscape press release on their Verifone collaboration; note that they explain nothing about 128 bits or 1024 bits--but Netscape now appears to claim to be the sole developers of SEPP. It looks like Verifone will be building their approval/verification mechanism into a Netscape product, and selling it themselves. I've removed contact info and the source at Netscape (in their PR dept), just to avoid unnecessarily nettling anyone. Presumably Netscape shouldn't be able to complain about it getting passed around since it will likely be the basis of reports in various trade/news rags by next week anyway. Enjoy. -Pete Loshin pete@loshin.com ---------- COPITHORNE & BELLOWS (for VeriFone) [contact info deleted] VERIFONE, INC. [contact info deleted] NETSCAPE [contact info deleted] VeriFone and Netscape Team To Provide Internet Payment Solutions Worldwide Leaders To Accelerate Commerce on the Internet REDWOOD CITY, Calif. - January 22, 1996 - VeriFone, Inc. (NYSE: VFI), and Netscape Communications Corporation (NASDAQ: NSCP) today announced an agreement to create comprehensive Internet payment solutions, enabling merchants, banks, credit card companies and consumers to expand the use of the Internet for electronic commerce. The agreement between VeriFone, the world leader in retail electronic payment systems, and Netscape, the premier provider of open software for linking people and information over enterprise networks and the Internet, is designed to accelerate acceptance of the Internet as a mainstream vehicle for commerce. Under terms of the agreement, the two companies will join forces to address the transaction processing needs of both financial institutions and merchants. For financial institutions, Netscape's gateway software and VeriFone's payment technology will be combined to create a seamless interface between the Internet and existing financial networks. VeriFone will also provide customization, installation and support services for these customers. To serve merchants, VeriFone will resell Netscape's server and commerce products bundled with VeriFone payment functionality to deliver complete software solutions for merchants who want to broaden their reach by establishing a commercial presence on the Internet. VeriFone will provide merchants with these solutions through its existing customers and channels. Netscape and VeriFone create a combination that is uniquely qualified to fulfill the promise of global electronic commerce. VeriFone's point-of-sale systems for online payment processing and credit card verification are among standards recognized by thousands of banks, credit card and debit card processors, and millions of merchants and consumers throughout the world. VeriFone's solutions today address the technology standards, payment methods and government regulations of over 90 countries around the world, enabling the two companies to accelerate their goal of deploying Internet payment systems worldwide. "Netscape's agreement with VeriFone will bring a comprehensive Internet payment solution to merchants, banks, credit card companies and consumers which will continue to fuel electronic commerce worldwide," said James Barksdale, chief executive officer at Netscape. "By combining VeriFone's electronic payment technology with Netscape's complete line of server and commerce software products, financial institutions and merchants can implement a complete payment solution." Creating Comprehensive Payment Solutions The new solutions will be designed to be compatible with current and future credit card payment protocols, including Secure Electronic Payment Protocol (SEPP), developed by Netscape. The two companies are working with leading card associations and processors to include additional protocols, supporting future payments instruments such as micropayments and debit transactions. "To truly enable Internet commerce, banks, credit card companies, merchants and consumers need a trusted interoperable system as accessible and secure as current payment systems," said Hatim A. Tyabji, chairman, president and chief executive officer of VeriFone. "Consumers need to know they can safely pay for something electronically, merchants need to know they can safely accept it, and banks and other financial organizations need to be able to process it. Our goal is to give merchants the same 'plug and play' payment access on the Internet that they have come to expect in their retail stores." VeriFone expects the integrated Netscape/VeriFone Internet gateway systems for financial institutions and the merchant systems to become available in the second to third quarters of 1996 from VeriFone, with increasing payment protocols and enhancements becoming available throughout the year. Company Backgrounds Netscape Communications Corporation (http://www.netscape.com) is a premier provider of open software for linking people and information over enterprise networks and the Internet. The company offers a full line of Netscape Navigator clients, servers, development tools, and Netscape Internet Applications to create a complete platform for next-generation, live online applications. Traded on NASDAQ under the symbol "NSCP," Netscape Communications Corporation is based in Mountain View, California. VeriFone, Inc. (http://www.verifone.com) is a leading global provider of Transaction Automation and Internet commerce solutions used to deliver electronic payment services to financial institutions, retail merchants and consumers, as well as government agencies, healthcare providers and benefits recipients. The company's more than 30 facilities -- including regional offices, development centers, and manufacturing and distribution centers -- are located throughout North and South America, Europe, Asia, Africa and Australia. To date, VeriFone has shipped more than 4.8 million Transaction Automation systems, which have been installed in over 90 countries. The company's 1994 net revenues totaled $309.1 million. In 1995, VeriFone acquired Enterprise Integration Technologies (http://www.eit.com) -- a leading provider of software and consulting services for electronic commerce on the Internet. (30) VeriFone is a registered trademark of VeriFone, Inc. 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