Bibit joins Deutsche to promote eCash payments

Bibit joins Deutsche to promote eCash payments

Dutch-based payments outfit Bibit is working with Deutsche Bank to incorporate Internet payment software from eCash Technologies at 900 European merchant Web sites.

Initially, Bibit is working with Deutsche Bank to encourage merchant and consumer adoption of the technology in Germany. The bank took a minority stake in Seattle-based eCash Technologies in September last year. Its direct banking arm Deutsche Bank 24 currently offers the eCash payments engine free of charge to all banked households in Germany.

The bank plans to ramp up its use of eCash's Monneta payments suite in the coming year, offering mobile access through cell phones and PDAs, payments at physical retail locations, new user interfaces and enhanced merchant administration and settlement. The new raft of services will be unveiled for the first time at the Cebit 2001 technology fair. Deutsche Bank is also planning to spotlight the person-to-person capabilities of eCash for email-based funds transfer.

The Monneta product suite enables businesses to offer a variety of electronic payment options, claims eCash, from bank-account-based B2C products such as debit and prepaid, to P2P, mobile and merchant-specific gift certificate and loyalty programmes.

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