Trintech Announces Availability of Secure eCommerce Solutions To Address Expected Surge in Online Holiday Shopping
Analyst groups expect eCommerce sales of $11 billion but consumers remain concerned about online security
Dublin, Ireland / San Mateo, CA - 19th Dec 2001 - Trintech Group Plc (Nasdaq: TTPA; Neuer Markt: TTP), a global provider of secure payment infrastructure solutions, has announced today the availability of a comprehensive suite of secure ePayment solutions to address what analysts predict will be a surge in eCommerce activity this holiday season. Trintech's PayWare ePayment suite also addresses consumers' continuing security concerns by delivering proven, standards-based solutions that ensure the safe transfer of information and funds at every step of the eCommerce transaction flow1.
The holiday shopping season is traditionally the busiest shopping season of the year and, while brick and mortar stores suffer a slowdown, analysts expect online shopping to enjoy a record year. According to Nielsen/NetRatings, holiday shopping visits to eCommerce sites rose 48 percent from the week ending October 28 to the week ending December 9, with some categories, such as toys and games, increasing by 129 percent2 (See table). Despite the increase, research from Ipsos-Reid, a market research firm, found that 47 percent of U.S. consumers have "major" concerns about online security.
The rise in online shopping in recent weeks has caused Forrester Research, Inc. to reiterate its prediction that Q4 eCommerce volumes will top $4 billion. The events of September 11th have impacted negatively on the physical retailing sector but, according to Forrester, online shopping is now viewed as an attractive alternative. The Cambridge, Massachusetts-based research company estimates that six million new households will shop online during the holiday season.
According to Forrester, online retailers should ensure their sites "can accommodate shoppers who want to send gifts to multiple addresses in a single transaction; offer in-store pick up for online purchases and provide easily understood privacy and security policies, as well as clear navigation and quick checkout."
"The Internet is coming of age and we must ensure that consumers are confident of shopping online," says John McGuire, chief executive officer of Trintech. "The predictions for holiday purchases on the Internet is very encouraging but there are signs that security fears have not been properly addressed. Trintech's PayWare ePayments initiative is designed to give banks, eTailers and card organizations the solutions required to ensure online shoppers enjoy a secure and simple eCommerce experience."
The PayWare ePayments solutions suite includes:
PayWare eMerchant is an enterprise level online retailing solution that can handle multi-currency transactions and multiple card types on any device, including PC, PDA, mobile phone
PayWare eAcquirer is one of the industry's most advanced online merchant acquiring and hosting solutions
PayWare Guardian is a complete fraud solution that provides increased security to online purchasing by utilizing fraud detection, transaction and user authentication technologies
PayWare eIssuer is a total Internet payment solution for consumers. This convenient and secure payment tool can reside on a desktop PC, PDA or any other mobile device and can support any payment card type
About Trintech
Founded in 1987, Trintech is a leading provider of secure electronic payment infrastructure solutions for card-based transactions for physical world commerce, eCommerce and mobile commerce. The company offers a complete range of payment software products for credit, debit, commercial and procurement card applications, as well as being a world leader in the deployment of payment solutions for Internet commerce that are fully SSL and SET™ compliant. Trintech's range of scalable open systems architecture solutions for UNIX® and Windows NT™ platforms covers consumer, merchant and financial institution requirements for physical payments and the emerging world of electronic commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403 (Tel: 650-227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at www.trintech.com.
Media Contacts:
Cara Sloman
Nadel Phelan, Inc.
(831) 440-2411
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