IP Commerce and eProcessing Network Sign Agreement to Enable Software Developers to Better Serve the ISO Channel and Enjoy a New, Recurring Revenue Stream

July 31, 2007; 06:53 AM
IP Commerce, Inc., a software company enabling open payments services between businesses, announced today an agreement with eProcessing Network, LLC, which specializes in secure, real-time transaction processing services and support, whereby eProcessing Network has integrated into the company’s technology platform. This integration enables software developers to more quickly and easily deliver multi-channel bank card processing solutions to eProcessing Network’s independent sales organizations (ISO) that are focused on small businesses.

Software developers have long been limited in their ability to cater to the needs of the ISO channel due to complex pricing and lack of direct access. However, that scenario is rapidly changing. Using the free Commerce Toolkit for Developers from IP Commerce, software developers can commerce-enable solutions in a faster, more secure, and easier way than ever before. Then, through the new relationship between IP Commerce and eProcessing Network, developers can enjoy new revenues through the distribution of their solution to eProcessing Network’s SMB-focused ISOs.

“We know ISOs want software applications that support bank card processing, and now, through the IP Commerce relationship with eProcessing Network, we have the opportunity to introduce our solution to the ISO channel,” said Ernest Cook, president, BIG Software, Inc., one of the first software developers to take advantage of the new partnership. “Using the Commerce Toolkit for Developers from IP Commerce, it was easy to write to several service providers at once, and give this channel the solutions they need.”

eProcessing Network’s Payment Gateway enables ISOs to provide merchant customers with secure processing and control of their wireless, Internet and POS transactions. Using the Commerce Toolkit, software developers can create a single bank card processing solution that accesses multiple providers across multiple types of commerce services, and also connects the application to IP Commerce. eProcessing Network can then select this and other solutions for their ISO network.

“Through our relationship with IP Commerce, eProcessing Network can now empower our ISO channel with more commerce solutions, more quickly,” said Steve Sotis, president of eProcessing Network. “Our ISO network will benefit from the expansion of their core product portfolio, and the ability to differentiate their service offerings.”

IP Commerce’s relationship with eProcessing Network supports the company’s ongoing strategy to provide software developers with a full spectrum of options to distribute commerce services and enable greater workflow efficiencies. All involved parties benefit from this open commerce approach – software developers expand the reach of their service, ultimately increasing revenue; ISOs provide merchants with additional commerce solutions; and merchants benefit from choice and flexibility in their commerce options.

“IP Commerce continues to pave the way for software developers to access greater distribution channels through strategic relationships like eProcessing Network,” said Chip Kahn, CEO of IP Commerce. “Our vision of an open commerce network continues to be validated by the utilization of our technology to provide a key competitive advantage for the ever-increasing members of the commerce ecosystem – software developers and their channels.”

About eProcessing Network

eProcessing Network, LLC, based in Houston, TX, is a software development company specializing in secure real-time transaction processing services and support. The eProcessing Network Payment Gateway processes merchant transactions using each merchant’s own credit card, ACH/check and/or shipping account. eProcessing Network does not itself or in partnership sell merchant processing, thus offering merchant level sales offices, independent sales organizations, merchant service providers, processors and acquiring banks the ability to offer a non-competitive service to commerce-enable their merchants. For more information, please visit www.eProcessingNetwork.com.

About IP Commerce

IP Commerce, Inc. is the software company behind the world’s first open commerce network delivering on-demand access to the next generation of commerce services. IP Commerce, the company’s flagship product, is the first open network to connect commerce services from leading financial institutions with software developers and established distribution channels. In an unprecedented use of service-oriented architecture, IP Commerce makes services accessible to small businesses that are critical to daily business operation and that traditionally have been exclusively available to large businesses. IP Commerce opens worlds of commerce, large and small.

Based in Denver, CO, IP Commerce, Inc. maintains partnerships with some of the world’s most respected financial institutions and software companies. The company is backed by leading investors, including Appian Ventures and Meritage Funds. For more information, visit www.IPCommerce.com.

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