GlobeSet Inc., a specialist in SET software, announced a marketing-distribution agreement with ParaRede, a Portuguese electronic commerce company.
GlobeSet's software, complying with the MasterCard-Visa Secure Electronic Transaction protocol, will be branded and sold by ParaRede as SafePay.
The product will include all four GlobeSet applications: a digital wallet, merchant server system, payment gateway, and digital certificate system.
GlobeSet chairman and chief executive officer Michael Cation called the OEM-original equipment manufacturer-contract "a major step forward in GlobeSet's European strategy."
"We feel this partnership represents a significant milestone in our growth," said Joao Pereira, president of ParaRede, which was formed in 1991 and controls 70% of the Portuguese electronic data interchange market.