Merchant signings up at VeriSign payments division

Merchant signings up at VeriSign payments division

Internet authentication firm VeriSign is reporting the addition of more than 6000 new online merchants to its payment services platform during the first quarter of 2001, representing a 33 per cent increase since Q4 2000.

With VeriSign's Payment Services, online merchants are able to process credit, debit and purchase cards, Internet cheques, and automated clearing house (ACH) transactions over the Internet, for a flat-fee monthly subscription.

The company now boasts over 20,000 active merchants and expects to double its base of online merchants following its acquisition of CyberCash's North American service assets.

VeriSign and First Data Merchant Services (FDMS) successfully bid for CyberCash's operating assets on 13 April; the bid was approved by the bankruptcy court as of 17 April. The acquisition is expected to close 1 May.

VeriSign says it is developing a plan to integrate CyberCash's payment services assets and customer base into its core payment services unit.

The California-based company also entered a partnership earlier this month with FDC affiliate eONE Global, to develop and co-market secure payment solutions to banks and B2B marketplaces.

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