IP Commerce and Internet Commerce Corp. Form Strategic Partnership to Leverage Windows Vista(TM)
Denver, CO and Norcross, GA, January 17, 2007 – IP Commerce, Inc., a software company enabling open payments services between businesses, and Internet Commerce Corporation (ICC) (NasdaqCM: ICCA), a leader in business-to-business e-commerce solutions, today announced a strategic partnership. As a result, ICC will utilize IP Commerce’s IP Payments Framework™ (IPPF) to facilitate electronic payment processing for its customers.
IP Commerce’s IPPF is a single platform environment that provides the framework to enable disparate applications and services in the payments industry to communicate more easily. The framework can be utilized to host payments networks, with free toolkits to connect services, devices and applications to an open payments marketplace.
By utilizing IPPF in conjunction with its current network and service offerings, ICC will enhance its portfolio of e-commerce solutions to provide electronic data interchange (EDI) payment capabilities, enabling businesses of any size to transact with companies of all sizes.
“We are delighted to be working with IP Commerce to bring our payment management services to the market,” said Michael Cassidy, founder of ICC. “By incorporating IP Commerce’s innovative IPPF into our infrastructure, ICC has a tremendous opportunity to connect small businesses to a more extensive set of business transactions.”
Cassidy added that choosing to utilize IPPF and joining the PASS(TM) (Payments as a Secure Service) Consortium demonstrates ICC’s commitment to an open payments network designed to improve the cash flow for its customers. In addition, businesses will benefit from best practice security measures to reduce fraud and identity theft and have the ability to extend greater flexibility of payment options to customers.
The PASS Consortium is a group of leading financial institutions and payment service providers that are working together to promote secure and efficient open financial transactions by leveraging IPPF within the Windows Vista Business operating system. In addition to ICC and IP Commerce, the PASS Consortium members include BankServ, CashEdge, Chase Paymentech Solutions LLC, CIT Group, Inc. and PayPal.
“IPPF is gaining significant attention within the payments industry because it addresses a long-standing need in the marketplace – to open up highly proprietary relationships based on one-to-one technology connections and give businesses the ability to select multiple vendors and payments services that are customized to meet their specific business needs,” said Chip Kahn, CEO of IP Commerce. “Our partnership with ICC adds an important layer to IPPF that will enable businesses to more easily, openly and securely manage their communications with large trading partners.”
About IP Commerce
Based in Denver, Colorado, IP Commerce, Inc. is a software company enabling open payments that allow banks and service providers to deliver payments services seamlessly to any business. The company’s IP Payments Framework™ (IPPF) provides an SOA-based infrastructure for the payments industry that can be utilized to host payments networks, as well as free toolkits to connect services, devices and applications to open payments. IPPF breaks down traditional barriers and connects banks, payment service providers, businesses, and software ecosystem participants together. For more information, visit www.ipcommerce.com.
About Internet Commerce Corporation (ICC)
Internet Commerce Corporation (NasdaqCM: ICCA), headquartered in Norcross,
Georgia, is a leader in providing business-to-business e-commerce solutions. Thousands of customers
rely on ICC's comprehensive line of solutions, in-depth expertise, and unmatched
customer service to help balance cost, fit, and function required to meet
unique requirements for trading partner compliance, coordination, and collaboration.
With its software solutions, network services, hosted web applications,
managed services, and consulting services, ICC is the trusted provider
of e-commerce solutions for businesses, regardless of size and level of technical
sophistication, to connect them with their trading communities. For
more information, visit www.icc.net.
Except for the historical information contained herein, this press release includes forward looking statements which are subject to a number of risks and uncertainties, including the risks and uncertainties associated with rapidly changing technologies such as the Internet, the risks of technology development and the risks of competition. Actual results could differ materially. For more information about these risks and uncertainties, see the SEC filings of Internet Commerce Corporation.