Singapore, 16 November 1999 - E-Business solution providers Sterling Commerce and Netlife have joined forces with Visa International and Microsoft to announce the availability of NetShop, a secure and affordable Internet E-Commerce solution that can take your business to the 'Net within 10 days.
Developed in Singapore by Sterling Commerce, NetShop enables a company to manage, automate and integrate its sales processes, and also link the trading partners within its E-business community. With NetShop, a company can publish its product catalog online, configure different discount schemes for its clients, manage promotions, receive and respond to orders online, generate customer or product sales reports and easily manage its sales offering via a standard web browser without the need to use complex programming languages.
"NetShop enables companies to fully streamline and integrate Internet E-Commerce applications with their core business processes, and extend them to their E-business partners," said James Kang, Managing Director of Sterling Commerce Asia. "Along with add-on modules and customization services, NetShop can be expanded to fulfil a company's future needs."
NetShop relies on Netlife's e-payment technology and Visa Purchasing to ensure secure online transactions. A major component of NetShop is the integration of Netlife POS to ensure security of online and real time payments. Netlife POS is SET-certified and used by online merchants worldwide to process payments through card transactions and authorisations. It accepts the purchase request from the cardholder via SSL or SET -- both merchant-oriented SET and full SET (Secure Electronic Transaction), generates a payment authorisation upon verification and returns purchase response to the card holder.
"In any Internet payment transaction, verification of the buyer and seller as well as security are of paramount importance," said Tobias Pelzer, Managing Director of Netlife Singapore. "Netlife POS with its proven e-payment technology provides the perfect solution for secure Internet payments."
Through the use of Visa Purchasing, NetShop allows a company and its clients to establish a trusted online procurement process. "The NetShop solution demonstrates how Visa Commercial Cards (Visa Purchasing, Visa Corporate and Visa Business) can be used by corporations worldwide in an end-to-end electronic procurement solution," said Raymond Hsiung, Director - Purchasing, Distribution and Commercial Electronic Commerce, Visa International.
NetShop is developed using Microsoft's Site Server technology. By providing a comprehensive set of server components, management tools, and sample sites, Microsoft's Site Server significantly reduces development time and costs for NetShop.
"The Internet is a business necessity in the 21st century. Now companies of all sizes have a way to participate in the Internet economy very quickly by leveraging the partnership between Sterling Commerce and its partners," said Saw Ken Wye, Managing Director of Microsoft Singapore.
NetShop is used by companies in Singapore, Japan and Australia, including WebOffice, Keppel Logistics, and Parkway Group Healthcare. The regional rollout plan for Netshop will start with Hong Kong, followed by Taiwan, Malaysia, Thailand and Philippines.
About Sterling Commerce
Sterling Commerce is a worldwide leader in providing E-business integration solutions for Global 5000 companies and their commerce communities. It is one of 40 companies included in the Dow Jones Internet Services Index and one of 100 companies included in the USA Today Internet 100 Stock Index. Sterling Commerce provides solutions to address E-business process integration, E-community management, E-business communication infrastructure and E-sourcing.
Founded in March 1996, Hamburg-based Netlife is a leading provider of electronic business solutions for banks, merchants, brokerages, insurance and other financial institutions. The company's leading solutions are Netlife Multi Business System (MBS) and Netpay, a SET-certified Internet payment suite. Netlife Singapore was set up in March 1998 and is the largest overseas subsidiary of Netlife, providing "e-business that works" to the Asian financial industry and e-commerce hosting companies.
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software for personal and business computing. The company offers a wide range of products and services designed to empower people through great software - any time, any place and on any device.
Record growth in Visa Card numbers and card sales volume for the 12 months ending June 1999 reflects the continued tendency in Asia-Pacific to replace existing cash and cheque payments with the use of payment cards. Total volume reached US$187.8 billion, comprising US$147.7 billion in purchase volume and cash transactions (13% growth over the corresponding 12 month period) plus a further US$40.1 billion of commercial activity using Visa cards in China, as reported by Chinese Member banks. The number of Visa branded cards in the region grew to a record 122.1 million, up 6% over the corresponding 12-month period. The number of transactions carried out on Visa cards in the region reached 1.46 billion -- an increase of 19 per cent over the same 12-month period. This translates into more than 46 Visa transactions every second in Asia-Pacific.
As the "World's Best Way to Pay," Visa is the world's leading payment brand and the largest payment system worldwide with more volume than all other major payment cards combined. Visa plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa has more than 80 smart card programs in 35 countries and on the Internet, with 23 million Visa chip cards, including 8 million Visa Cash cards. Visa is pioneering SET Secure Electronic TransactionT programs to enable and advance Internet commerce. There are over 880 million Visa, Visa Electron, Interlink, PLUS and Visa Cash cards, which generate more than US$1.4 trillion in annual volume. Visa-branded cards are accepted at over 18 million worldwide locations, including at more than 530,000 ATMs in the Visa Global ATM Network.