PARIS. July 6, 1999.
GlobeID, one of the leading vendors of world class electronic commerce transaction solutions, has performed the world's first secure Internet purchases using the Electronic Commerce Modeling Language (ECML) standard. The transaction, which took place on Tuesday, July 6, 1999, was run at GlobeID's Paris office.
The implementation, the first conducted under the recently developed standard, demonstrates the compliance of GlobeID's @dvanced Payment Solution Suite with ECML. ECML enabled @PayWallet and @PayButton will be commercially available this quarter.
The ECML format was announced in early June by a consortium of major technology companies, including AOL, IBM, Microsoft, Compaq, CyberCash and others, along with Visa, Mastercard and American Express. Until now no real-time transaction application has been conducted. GlobeID has become the first to do so.
GlobeID's @dvanced Payment Solution Suite is a world class advanced Internet payment solution providing the financial services industry, payment aggregators and large billers with a strategic foundation to enter the electronic commerce market.
ECML, the new proposed standard, is a set of Extensible Markup Language (XML) tags that merchants will be asked to use on their merchant servers to make form completion easier. In a recent research study Jupiter Communications cited that 27% of all on-line shopping carts are abandoned due to the time taken to fill out forms.
Yizhi You, CTO, GlobeID states: "We are already supporting the ECML standard due to the inherent flexibility of our products, which are based on modular design. This has enabled us to implement ECML into our digital wallet solution and build a live demonstration leap frogging many of our competitors in the process".
@PayWallet digital wallet is an application or service that helps consumers in conducting online transactions by allowing them to store billing, shipping and payment information. This information is then used to automatically complete a merchant's check out page. Until now digital wallets have suffered from a lack of standardization - something the adoption of ECML protocol aims to address to ensure vendors can automate the exchange of information between customer and merchant. @PayButton is a one click payment button offering merchants the ability to support ECML and launch @PayWallet for payment instrument and shipping selections.
About GlobeID Software
GlobeID Software (www.globeid.com) develops and markets world class electronic commerce transaction solutions. The company's products enable high volume operators to provide advanced, cost efficient transaction services to online communities around the world.
[See the release from GlobeID Software.]
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