Tech Bytes: Verifone, Netscape Plan An Internet Card System

Verifone Inc. and Netscape Communications Corp. announced plans to jointly develop software designed to let credit card transactions travel safely over the Internet.

The software, expected to be available in October, would allow consumers to use any major credit card to purchase goods on the World Wide Web portion of the Internet.

Verifone, a leading supplier of point of sale card authorization systems, plans to combine its payment technology with Netscape's Internet software. Netscape makes Web browsers and is one of the leading providers of software to merchants on the Web.

The two companies expect to market software for both merchants and financial institutions.

Verifone said in a statement that the two companies are working with card associations and transaction processors to ensure that the software will be compatible with current and future credit-card payment protocols, including Secure Electronic Payment Protocol, which was developed by Netscape.

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