Transaction Network Services Inc. said its Swedish subsidiary has released a SET-compliant version of its CashLink Internet payment software.

Merchants using CashLink can accept payments under the credit card industry's Secure Electronic Transactions protocol without the usual high costs associated with SET implementation, said the Swedish company, Transaction Network Services TNS AB.

It said minimal software integration is required on the merchant server, and no dedicated SET server is required at the merchant site. An Internet merchant can be set up for secure payments within hours.

CashLink is available initially through the four banks participating in a SET pilot, S-E Banken, Handelsbanken, Foreningsssparbanken, and Postgirot.

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