IBM Leads Online Payment Effort
IBM, SurePay and govOne will offer solutions to enable e-marketplaces, businesses, financial services providers and government agencies to switch from paper payment processing to online transactions.Online business-to-business trading has been around for a couple of years now, but there has yet to be a system that fully closes the online payment loop. IBM announced a relationship Thursday with eOne Global LP that should go a step toward helping e-marketplace participants, businesses, financial services providers and government agencies make the switch from paper-based payment processing to online transactions.
Currently, most businesses do not make online payments to complete their accounts payable and accounts receivable transactions; instead they manually reconcile payments and related data, according to officials from IBM and eOne Global. IBM and two eOne Global subsidiaries that provide online payment technologies, SurePay LP and govOne Solutions LP, will jointly deliver electronic payment products and services to customers, according to officials from the three companies. Together the companies will provide an e-payment infrastructure of services, software and hardware.