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IBM Unveils Web Payment Software

IBM today unveiled software that lets service providers host E-commerce transaction services for multiple merchants.

WebSphere Payment Manager 2.1 serves as a sort of security-enhanced Internet cash register. By giving Internet service providers, application service providers, banks, and financial institutions the ability to host E-commerce transactions, smaller business will be able to establish sites that process online credit- and debit-card transactions without the cost or complexity of managing the applications themselves. For larger businesses entering the E-commerce market, it offers the ability to move their transactions online more quickly than if they had to establish a site themselves.

"A lot of merchants don't want to manage the complexity of the E-commerce transactions," says Steve Ryan, senior VP of technology for e-Visa, which has certified the WebSphere Payment Manager for its banking customers. "They'd rather outsource that part. The IBM software gives banks the ability to host this service."

Specifically, service providers and financial institutions using WebSphere Payment Manager will be able to host payment services for multiple remote merchants. Merchants will benefit by integrating payments into business processes and software such as online catalogs and accounting packages. The software also will let them accept multiple payment types. The product is available today in English and will be available in other languages next month. It will also support multiple currencies, giving merchants a global reach.

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