CyberCash targets B2B market

CyberCash targets B2B market

CyberCash is to offer an enhanced version of its Internet payment technology for the online business-to-business market.

The new service will support credit card, purchasing card and EFT payments processing, says the company.

Chuck Riegel, executive vice president of worldwide marketing at CyberCash comments: "Leading B2B platforms, such as those offered by Oracle, IBM, BEA Systems, Intershop, and Allaire, already leverage CyberCash technology with customers that are deploying sell-side storefronts, eMarketplaces, and B2B commerce sites."

Additionally, YourAccounts.Com is one of the first B2B e-commerce companies to integrate the CyberCash EFT service into its anywhere.B2B product, which is used for Web-based electronic bill payment and presentment, and is currently in use by Fortune 500 companies, says Riegel.

Significant growth is forecast for B2B e-commerce going forward. Over the next four years, B2B Internet-based trade will grow more than 20 times to $7.3 trillion, according to the Gartner Group. Gartner research also found that businesses expect the percentage of electronic payments they receive from other business partners to more than quintuple over the next decade from 14% of all payments in 1999 to 61% expected in 2009.

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