Every June for the past few years, Google rumors and controversy dominated conversation at eBay's annual user conference. For two years it was Google's "PayPal killer" - until Google Checkout finally launched. Last year it was Google's "Boston Tea Party" that had everyone talking.
This year's eBay Live conference is 2 weeks away, but it is Microsoft who is rumored to be developing an online payment service. ITpro in the UK reported that Microsoft has signed an agreement with a payment processing firm that experts have said could be a precursor to it launching an online checkout service.
Who is more worried, eBay's PayPal unit or Google? And if Microsoft acquires Yahoo, would that spell an added threat?
Here's the press release issued by Symmetric Systems, LLC:
SEATTLE, June 3 /PRNewswire/ - Microsoft has executed an agreement with Symmetric Systems, LLC, developers of http://www.vitalpay.com technology for payment gateway services, global payment processing, merchant workflow and comprehensive reporting.
VitalPay is a comprehensive group of specialized products that provides clients with customized solutions specifically tailored for the business needs of merchants, financial institutions, banks and resellers. VitalPay has at its center credit-card and debit-card processing. It also offers payment processing capabilities, such as Credit Cards, ACH, electronic check conversion, loyalty cards, gift cards, affinity cards and others.
"VitalPay participates in one of the most comprehensive payment-processing platforms in the payment processing Industry," said Matt Jackson, President of Symmetric Systems. "It's connected to bank switches and depository institutions worldwide, offering flexibility, speed in deployment and the benefits of local authorization and settlement where needed for enterprise solutions."
Among the industries to which VitalPay provides client services are retail and specialty retail merchants; mail and telephone order facilities and card-not-present transactions; Internet e-tailers; catalog, travel, and airline industries; government agencies and others. The services of VitalPay are PCI Level 1 compliant and consistent with the industries required security and privacy standards.