Vital Chooses VeriSign as Preferred Internet Payment Service for its Client Base
Tempe, Ariz., April 3, 2002, - Vital Processing Services® (Vital®), a recognized leader in technology-based commerce enabling services announced a multi-year contract with VeriSign, Inc., the leading provider of digital trust services, in which Vital becomes a master reseller of VeriSign's Internet payment gateway services. Now Vital will offer acquirers VeriSign's Payflow ProSM and Payflow LinkSM services, giving merchants of every size easy access to VeriSign's leading Internet payment solutions.
These services offer merchants the ability to securely accept credit and debit cards over the Internet Additionally, these services provide merchants with a fast and reliable interface between a merchant's web site and Vital's processing network for authorization and capture of "card not present" payment transactions. With these new offerings, Vital is in the position to deliver to its clients more flexible Internet payment processing solutions to serve all size merchants.
Expanding business to the Web can be a complex task for merchants. Acquirers can now take advantage of the size and scale that Vital has in the marketplace and be able to offer merchants VeriSign payment services. The offering includes an integrated payment platform designed for the Internet. Vital clients now have a one-stop provider for processing Internet transactions including reporting, statementing, billing and support.
"We are very pleased to partner with the leader in Internet security and the company with the superior product," says Denise Lewis, executive vice president of products and marketing for Vital. "There is a huge market potential for transactions on the Internet. With market growth in excess of 50 percent a year, we envision this as a strong product offering that will allow our clients a new revenue stream."
"The goal of this agreement is to help merchants begin processing online transactions in one stop," says Barry McCarthy, vice president and general manager of VeriSign Payments. "Vital's large acquirer client base of merchants will be up and processing transactions quickly and easily."
About the Products
The VeriSign Payflow ProSM service is a high performance, customizable, TCP/IP Internet payment solution that enables real-time payment processing through Vital's payment processing platform. It is available as a downloadable Software Development Kit (SDK) or can be pre-integrated with leading e-commerce solutions. The service is for e-commerce merchants that require a versatile and scalable online payment processing solution.
The VeriSign Payflow LinkSM service is a VeriSign-hosted, secure HTTP-based Internet solution. It allows merchants to connect customers to VeriSign's secure order form and enables real-time payment processing through Vital's payment processing platform. The service is for merchants who process low to moderate transaction volumes and prefer a solution that is especially easy to implement and maintain.
About Vital Processing Services
A leader in technology-based commerce enabling services, Vital Processing Services® (Vital®) is the only pure acquirer processor in the industry. Vital's clients include acquirers that offer electronic payment processing and related services to merchants. Vital provides leading point-of-sale (POS) products and services, electronic authorization and data capture; clearing, settlement and exception processing; accounting, billing and reporting; risk management; and merchant support services. Vital also provides POS equipment management services through its subsidiary Vital Merchant Services and a full suite of Information Services. Vital is a merchant processing joint venture of Visa U.S.A. and TSYS® ("NYSE: TSS"), a global leader in payments processing. Additional information regarding Vital can be found at www.vitalps.com.
About VeriSign
VeriSign, Inc. (NASDAQ: VRSN) is the leading provider of digital trust services that enable everyone, everywhere to engage in commerce and communications with confidence. VeriSign's digital trust services create a trusted environment through four core offerings-Web presence services, security services, payment services, and telecommunications services-powered by a global infrastructure that manages more than five billion network connections and transactions a day. Additional news and information about the company is available at www.verisign.com.
Contact:
Virginia Lewis
Director of Corporate Relations
Vital Processing Services
(480) 333-7671
virginia.lewis@vitalps.com
Susan Assadi or Angela Jamison
Gitenstein & Assadi PR
(480) 860-8792
susan@assadi.com
angela@assadi.com
Janine Dunne
VeriSign, Inc.
(703) 948-4496
Jdunne@verisign.com
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others: VeriSign's limited operating history under its current business structure; the risk that the VeriSign and its acquired businesses will not be integrated successfully and unanticipated costs of such integration; uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results; failure of the combined company to retain and hire key executives, technical personnel and other employees; failure of the combined company to manage its growth and the difficulty of successfully managing a larger, more geographically dispersed organization; failure of the combined company to successfully manage relationships with customers, suppliers and strategic customers; network outages, network capacity constraints or security breaches; failure of the combined company's customers to accept new services or to continue using the products and services of the combined company; and competition in the various markets serviced by the combined company. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, especially in the company's Annual Report on Form 10-K for the year ended December 31, 2001. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
VeriSign is a registered trademark of VeriSign, Inc. Other names may be trademarks of their respective owners.