Internet payment company Cybercash has launched new technology designed to make online shopping more convenient.
Called Instabuy it is the first product based on the company?s Agile Wallet technology. It is designed to appeal to consumers and merchants.
Consumers enter their credit card details once and are free to make repeat purchases at multiple Web stores with a single click.
Once a consumer makes an online transaction with a participating site they type in their credit card and shipping details which are captured in the Instabuy Agile Wallet. The information is stored centrally and secured by a financial institution.
For any subsequent purchase at other participating merchants Instabuy automatically fills the payment screen with the purchase information. Once the consumer verifies the information a purchase is made with a single click.
Recent studies into online shopping suggest that once a consumer makes that important first Web purchase security fears are eliminated.
Cybercash will offer the service to major online merchants and financial institutions in the hope that the marriage of the two will encourage wide use of the service.
?The end result is universal, interoperable and trusted one-click shopping,? explained Denis Yaro, executive vice president of Cybercash. ?With Instabuy Cybercash makes it easy, and banks make it safe.?
The company plans to make the product available in October, in time for when consumers start shopping for next year?s holiday. Cybercash is in talks with several major financial institutions to brand Instabuy for the period.
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