EFunds acquires Webpay intellectual property
17 February 2004 | 3760 views | 0
EFunds Corporation has acquired the intellectual property of Webpay, a privately-owned Australian payments software company spun out of ANZ, for an undisclosed sum.
Under the terms of the agreement, eFunds has acquired the intellectual property for all Webpay products and will also take on key employees.
Webpay, which was formerly owned by the ANZ banking group, has developed a range of Web-based payment products, including an Internet payment gateway capable of handling both financial and non-financial messages. The vendor's Transaction Server allows merchants to see the status of accounts online and controls merchant authorisation and access.
Commenting on the acquisition, Peter Lloyd, managing director, Asia Pacific, eFunds International, says: "Webpay is an extremely innovative company, which is getting maximum benefit out of the Internet as a reliable and secure communications platform. Webpay provides specialist payments expertise to compliment our existing Connex and Oasis solutions."