Philippe Courtot
Joins PaymentNet™
Veteran of cc:Mail and Verity to guide
e-commerce transaction
processing service
Pleasanton, CA . - April 6, 1999 -
PaymentNet™ (www.paymentnet.com), announced today
that Philippe Courtot has been named chairman
and CEO of the company. This announcement
follows the recent completion of
PaymentNet’s $7.6 million round of
financing. The second round of financing
included AT&T Ventures, Wells Fargo Bank,
Convergence Partners, Bay View Investors, Ltd.,
GC&H Investments, and others.
Thomas L. Rosch, partner at
AT&T Ventures, noted, "Philippe is a
recognized visionary who brings entrepreneurial
drive, Internet savvy and an industry track
record that will enable PaymentNet to accelerate
its market penetration."
Philippe Courtot added,
"PaymentNet is well positioned to become
the Internet transaction processing service of
choice for businesses engaged in a wide range of
e-commerce initiatives – not just Web
merchants. The PaymentNet platform meets
mission-critical requirements, and delivers high
performance, reliability and security for
processing multiple payment
instruments."
Mr. Courtot has a solid
record of success building small, innovative
companies into industry leaders. Starting with
only 12 people, he grew cc: Mail to an
enterprise email powerhouse with 40% market
share, competing directly against IBM, Microsoft
and small email vendors. After the sale of cc:
Mail to Lotus Development Corp., Courtot joined
Verity in 1993 as president and CEO, and took
the company public in November, 1995. Courtot is
also acknowledged for his success in the medical
field as CEO of Thomson CGR Medical Corp., (now
a division of GE Medical) for building
the company into the leader in mammography.
About
PaymentNet
PaymentNet is a leading
e-commerce transaction processing service. The
service provides secure, Internet-based
transaction and payment processing for a broad
range of businesses that sell goods and services
through a variety of e-commerce
media.
PaymentNet offers
industry-leading automation and customer care
with its high-reliability credit card, debit
card, and electronic check processing services.
The service has been deployed across a wide
range of businesses with excellent results.
Notable customers include CBS SportsLine, EC
Direct, Network Solutions, Inc., Value America,
and Virtual Vineyards.
The PaymentNet service is
based on a scalable, secure TCP/IP architecture
that automates the processing of multiple
payment instruments. It leverages the Internet
as a virtual private network between
PaymentNet’s proprietary transaction
processing server and individual clients
dispersed on Internet and Intranet locations.
The service is pre-integrated with many leading
"shopping carts" and integrates easily
with e-commerce front-ends of many
types.
PaymentNet is headquartered
in Pleasanton, California, and can be found on
the Web at www.paymentnet.com. Contact
PaymentNet corporate offices at
925/225-1670.
###
PaymentNet is a trademark
of PaymentNet, Inc. All other trademarks are
property of their respective owners.
PaymentNet Contact:
Scott
Collison
PaymentNet, Inc.
(925)
598-1106
scollison@paymentnet.com |
