MENTOR, Ohio, Dec. 18, 2002 (PRIMEZONE) -- Today, CardinalCommerce Corporation announced that PayNet Merchant Services has agreed to partner with CardinalCommerce and provide the Cardinal Centinel(TM) merchant authentication software to its customers. Cardinal Centinel is a software authentication platform that supports credit card industry initiatives to reduce the incidence of online fraudulent transactions and guarantee payments to online merchants. Cardinal Centinel makes it easy for merchants to increase sales by participating in these programs and integrating them into their electronic shopping sites.
Clinton Baller, president of PayNet, noted, "Cardinal is the only vendor who has come to us with a fully integrated platform. They are playing an important role in proactively promoting Verified by Visa and MasterCard SecureCode solutions to the merchant services industry."
"We are pleased that PayNet has selected Cardinal Centinel," commented Kendall G. Myles, senior vice president - Merchant Services at CardinalCommerce. "Our goal is to support the efforts of our customers to increase sales and to reduce the cost of fraudulent transactions, easily and affordably."
PayNet Merchant Services is the latest in a series of Merchant Service Providers signed in the last six months by CardinalCommerce, including Heartland Payment Systems, Paradata Systems, eProcessing Network, Innovative Merchant Solutions, Transactional Technologies, DCTI, and Spectrum Merchant Services. These signings are a strong signal by the merchant acquiring community that payment authentication, through Verified by Visa and MasterCard SecureCode, is in demand and provides a clear value to both merchants and their processors.
Verified by Visa and SecureCode were designed to reduce online fraud and increase consumer confidence in e-commerce. CardinalCommerce's products support each of these initiatives from a single software platform, allowing customers to comply with each of the initiatives' mandates in one simple and cost effective solution.
About CardinalCommerce Corporation
CardinalCommerce Corporation is a leading provider of a technology-neutral authentication platform for securing electronic and wireless commerce, thus ensuring that individuals, businesses and government agencies can process electronic transactions and access confidential information safely, securely and privately. A significant application of Cardinal's proprietary technology, the Cardinal Payment Authentication Platform, provides consumers, merchants, credit/debit card issuers, and processors the ability to conduct fully authenticated Internet-based e-commerce, while protecting the transactions from fraud. For more information, visit www.cardinalcommerce.com.
About PayNet Merchant Services
Located in Southfield, Michigan, PayNet Merchant Services has focused on serving the transactional needs of smaller and medium-sized businesses since 1995. PayNet is an independent sales organization/merchant services provider (ISO/MSP) in Chicago, Ill.