Trintech is to launch its one click virtual payment card in Europe next month in an attempt to boost business to consumer ecommerce in the region.
The electronic payment software company’s ezCard is the first payment offering to come out of the work it has been doing with partners to develop the new Electronic Commerce Modelling Language (ECML) format.
ECML is intended to facilitate transactions for cardholders and streamline the process by which merchants collect electronic data for shipping, billing and payment (see VNU Newswire, 14 June 1999).
EzCard is based on Trintech’s Netissuer technology, and was launched in the US last month. By bringing it to Europe, the firm hopes to encourage more consumers to shop online by making the process simpler.
John McGuire, Trintech’s co founder and chief executive: “The link between the online consumer and merchant is often severed because the payment process is too cumbersome. Netissuer’s one click buying method simplifies the online payment process, which encourages repeat visits by consumers. The ezCard solution also offers a broad range of marketing and branding opportunities for payment card issuers and maintains strong security throughout the entire process."
To activate their ezCards, users visit the Web site of the bank issuing their card and access their accounts by entering a unique PIN number. Netissuer enables the Web site to automatically download, install and launch the ezCard on the consumer’s PC.
To make a purchase, customers simply drag the ezCard from their desktop to the merchant’s payment form and type in a password for verification. The ezCard automatically fills in the form ready to undertake the transaction, which is conducted over a SSL based network. Trintech plans to upgrade this to conform to the elusive SET protocol over time, however.
According to research from Jupiter Communications, some 27 per cent of ecommerce orders are abandoned before purchase because the payment process is too cumbersome.
Research from Internettrak also shows that 39 per cent of Web users want the order process to be improved, while 43 per cent are fed up with having to repeatedly type in the same personal data to complete a transaction (see VNU Newswire, 7 July).
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