Authorize.Net Announces Completion of Secure Virtual Point of Sale -VPOS- Beta
Authorize.Net Corp., a service of Lightbridge Inc. (NASDAQ:LTBG), today announced that it has completed an initial beta release of its new Virtual Point of Sale (VPOS) product. VPOS is designed to provide a secure, easy-to-implement, easy-to-use solution for "brick and mortar" retail merchants using the Authorize.Net Payment Gateway.
(I-Newswire) - To use VPOS, retail merchants simply need an Authorize.Net Card Present ( CP ) account, a CP merchant account, a computer running Microsoft( R ) Windows( R ) with Internet Explorer 6 and a supported credit card reader by MagTek. Distributed as a private label solution through Authorize.Net`s extensive network of reseller partners, VPOS will initially be offered through resellers capable of providing tier-one ( first call ) support.
"Authorize.Net is committed to being the industry`s leading payment gateway for all merchant Internet Protocol ( IP ) transaction processing needs," stated Roy Banks, Authorize.Net president. "Just as our Virtual Terminal allows e-commerce and mail or telephone order merchants to easily submit transactions manually via our Merchant Interface, VPOS allows merchants in retail locations to take advantage of the speed, reliability, and cost benefits of submitting credit card transactions via Authorize.Net`s Internet Protocol Payment Gateway."
"We`ve had a lot of merchant demand for a virtual POS terminal," added Matt Ward-Steinman, Authorize.Net director of product management. "We are pleased to answer that demand by introducing a product that is both cost-effective and secure. For any retail merchant, the incremental costs for the MagTek reader are considerably less than the cost of a dedicated POS hardware terminal. Additionally, we have built a number of important security enhancements into the solution that uniquely positions VPOS apart from competing solutions that lack security features."
Authorize.Net will be demonstrating the VPOS solution in their booth ( #810 ) at the Electronic Transactions Association ( ETA ) Annual Meeting and Expo, March 15-17 at the Mirage Hotel, Las Vegas.
About Authorize.Net( R ) ( www.authorize.net ) Authorize.Net provides secure, reliable, Internet Protocol ( IP )-based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, retail, mail order/telephone order ( MOTO ) call centers and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry-leading payment services to their merchant customers. Authorize.Net is a service of Lightbridge Inc.
About Lightbridge( R ) ( www.lightbridge.com ) Lightbridge Inc. ( NASDAQ:LTBG ) is a leading analytics, decisioning and e-commerce company that businesses trust to manage customer transactions. Lightbridge adds value to fraud screening, credit qualification, payment authorization, billing, and enhanced voice services. Lightbridge solutions leverage intelligent automated systems and human expertise, delivered primarily through the efficiencies and cost savings of an outsourced business model. Businesses around the world use Lightbridge to make smarter decisions, deliver better services, provide secure payments, reduce costs and enhance the lifetime value of their customers. For more information, visit www.lightbridge.com or call 800-LIGHTBR.
AUTHORIZE.NET, LIGHTBRIDGE, and the Lightbridge logo are registered trademarks and VIRTUAL POINT OF SALE is a trademark of Lightbridge Inc. All other marks are the property of their respective owners.
Forward-looking Statements Certain statements in this news release that are not historical facts, including, without limitation, those relating to the company`s partnerships, products, commitments, services markets, growth prospects, successes and the cost-effectiveness and security of new products or services are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, ( i ) dependence on a limited number of clients, ( ii ) the company`s revenue concentration in the wireless telecommunications business and the declining subscriber growth rate in that business, ( iii ) continuing rapid change in the telecommunications industry and payment processing industries, and other markets in which the company does business that may affect both the company and its clients, ( iv ) the impact of competitive products, services and pricing on both the company and its products and services, ( v ) market acceptance of the company`s new or enhanced products, services and technologies, ( vi ) the industry risks associated with Authorize.Net`s business and operations including, without limitation, illegal or improper uses of Authorize.Net`s payment system, unauthorized intrusions or attacks on Authorize.Net`s payment system that may impair the operations of its payment system, changes or failures to comply with credit card association rules, governmental regulation and the application of existing laws to Authorize.Net`s business and dependence on relationships with third party payment processors, and ( vii ) factors disclosed in the company`s filings with the U.S. Securities and Exchange Commission including, without limitation, its 2004 Annual Report on Form 10-K and its most recent Quarterly Report on Form 10-Q. The company undertakes no obligation to update any forward-looking statements.
Authorize.Net Corp. David Schwartz, 425-586-6039 or Lightbridge Inc. Lynn Ricci, 781-359-4854 lricci@lightbridge.com
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