Inching closer toward full-blown electronic commerce, VeriFone began shipping products based on the SET 1.0 protocol, a move that could enable it to pull ahead of IBM in the battle for gateway market share.

Thirty-eight banks and processors will deploy the SET products, including vGate, vPOS and vWallet. "This is going to help break the logjam in this whole business," says VeriFone's George Hoyem, vp and general manager, Internet commerce division.

Hoyem says shipment of these products underscores VeriFone's commitment to building the necessary infrastructure to support electronic commerce. By the second quarter of 1998, the Redwood City, CA-based company will aggressively focus on fostering merchant adoption, which he says is the most challenging aspect of galvanizing the electronic commerce front. FB

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