Rates and Fees

Mission

PaymentNet's mission is to be the Value Leader in real-time payment automation services, not only for Web merchants, but for many classes of traditional businesses as well.

The company evolved from a commerce-enabled Web development, hosting and consulting company, originally named Online Analysis. During this time, PaymentNet founders used most of the payment processing technologies and services now on the market, and found them each lacking in different respects.

This experience lead to a new vision for the company: Develop and deploy a proprietary transaction processing engine with industrial strength characteristics that would serve large and small merchants alike. The resulting service offers:

• Extreme scalability
• The highest levels of performance in the industry
  
• A true client/server architecture
  
• The highest levels of security
  
• Multi-threading application and processing support
  
• Extreme ease of merchant administration

Today, PaymentNet has successfully divested itself of its web development and hosting operations, and has fielded an industrial-strength transaction processing service that has attracted hundreds of merchant customers, and business partners across the spectrum of the payment processing industry's infrastructure.

Service Description
The PaymentNet Service is the industry's only single-source, automated,
multi-payment, secure gateway that provides real-time processing services for multiple payment media: credit cards, purchase cards, electronic checks and others. The multi-payment gateway supports critical business requirements facing Internet merchants including recurring billing, installment payments, delayed product shipment and immediate softgoods delivery.

Value-Added Services

- Automated Routing
- Multiple Transaction Types
- Reconciliation Reporting
- Secure Transaction Data Storage
- Processor Certification
- Dynamic Reporting
- Merchant Administration
- Legacy System Integration

Technical Differentiation
The PaymentNet architecture uses a true client/server model that leverages the Internet as a virtual private network between the main server and individual clients dispersed on Intranet and Internet locations. This design allows a very low profile footprint with ISPs. It also allows PaymentNet to easily maintain certification compliance with financial processors across its entire user base. These attributes result in significantly reduced support costs compared to conventional solutions.

Fastest Response Time in the Industry PaymentNet has installed a dedicated data circuit between its proprietary payment processing server and First Data Merchant Services, the largest processor of credit cards in the United States. This circuit is commonly known as a private gateway. This FDMC gateway actually bypasses the traditional network host systems located with merchant banks, and provides a direct connection to the financial industry's backbone. This implementation enables PaymentNet to deliver transaction response times of less than 10 seconds on average.

Key Customers and Business Partners
PaymentNet's service is production-quality and already broadly deployed. It has proved compelling enough to enroll key players across the spectrum of the payment processing infrastructure and to attract a range of large, leading-edge merchant customers. Following is a list of early PaymentNet customers and business partners:

Banking/Processing Partners
First Data Merchant Services (the leader in credit card processing), Wells Fargo, Unified Merchant Services (a Nation's Bank/First Data Merchant Services alliance partnership), and Cardservices International.

Customers
Value America, Virtual Vineyards, Landmark Community Interests, DocuSearch. Network Solutions, KLM Dutch Airlines, AtYourOffice.com, Hygrade Food Products (division of Sara Lee), Certified Email, Fantasy Sports Properties, Inc., and American Heart Association.

ISP Providers
Anaserve, Best Internet, Netcom, The Big Net, Catholic Online, Catholic Telecom, First Internet, Interport Communications, LexiConn, Mindspring, Pair Networks, VikingNet, WebServe, and Webvisions.

Shopping Carts
Open Market ShopSite and Mercantec Softcart (others in process).