VENTURA, CA -- Nov. 9, 2000 -- Vsource has teamed up with SurePay to integrate SurePays payment gateway and transaction processing platform into Vsources Virtual Source Network. SurePay, an eONE Global company, is a joint venture between First Data Corp. and Entrust Technologies, which provides end-to-end payment, trust and security products and services for Internet B2B and B2C markets globally.
Vsource plans to make SurePays B2B payment solution an integral part of its VSN offering. This includes making the VSN application available to the IBM customer base through Vsources relationship with IBM. IBM, which is forming a new national services practice within IBM Global Services, provides sales and services support for VSN implementation. Further, Vsource will work with SurePay to test and deploy additional SurePay online B2B commerce services as they are developed in the coming months.
B2B e-procurement applications that enable buyers and suppliers to conduct transactions online generally require a separate payment process. Through this agreement with SurePay, VSN will provide end-to-end procurement process capabilities, from the decision to buy an item through final processing and settlement of credit card payments, all over the Internet.
Commenting on this agreement, Robert Jay McShirley, CEO and chairman of Vsource, said, SurePay, based on the strength and expertise of its founders in trust and electronic payment services, is a major force in the development of Internet payment solutions for businesses. This is the type of focused company with which we will continue to develop strategic relationships as we expand the capabilities of Virtual Source Network. McShirley continued, Our goal is to ensure that VSN provides a comprehensive solution for a companys total procurement process, from strategic sourcing to procurement transactions and payments all over the Internet, with no software required. This is especially important for our primary target market, mid-size companies, which account for some 50 to 60 percent of all transaction volume.