Comparex (previously PQ Holdings Limited) is now well positioned to compete on a European and global basis with representation in Germany, which is seen as the second largest digital certification technology market in the world, second only to the United States.
For Immediate Release SA company - world leading in e-commerce solutions Comparex Holdings expands its e-commerce initiatives into Europe
Comparex Holdings and VeriSign Inc. today announced an agreement, which expands the companies` e-commerce solutions to Germany.
VeriSign is the leading provider of Internet-based secure electronic commerce services and digital certificate solutions. The company is the world`s largest commercial Certification Authority (CA) and the only Internet-based trust services vendor to run a commercial CA.
Comparex Holdings, already a VeriSign Affiliate in South Africa, is now uniquely qualified to offer a full range of certification services to the German market which will include Digital IDs for the corporate market, digital authentication to the general public and SET for the banking sector.
"We have a goal of enabling companies to easily conduct business electronically, yet totally avoid the associated complexity. The VeriSign agreement allows us to offer comprehensive secure commerce services to clients that wish to transact business over the Internet," says Stephen Carlin, chief executive officer, Comparex Holdings Electronic Commerce Division.
"The South African and European Electronic Commerce Divisions enable organisations to fully leverage the group`s global IT expertise and track record to the benefit of their business," says Carlin.
Comparex is now well positioned to compete on a European and global basis with representation in Germany, which is seen as the second largest digital certification technology market in the world, second only to the United States.
According to London-based research firm Datamonitor, digital certificates will be used in 40% of international corporations by 2000, up from 3% in 1998. By the year 2000, it`s estimated that corporations will spend approximately $652 million on the technology, compared with $115 million today.
VeriSign chose Comparex as an affiliate service provider due to the group`s achievements in South Africa and their position as a leading technology provider. Comparex`s e-commerce division in South Africa was the first certification authority in the world to be fully certified by MasterCard and Visa for SET CA services. Their position as a leading business solution provider in SA, along with the recently signed agreement, places the company at the forefront of the e-commerce revolution globally.
"This deal leverages expertise across the globe and offers benefits to both Europe and South Africa in terms of learning from one another`s markets. The development of electronic commerce technology in South Africa is cutting edge - although acceptance and implementation is more gradual. Europe on the other hand has embraced the power of the World Wide Web, yet can benefit from South Africa`s technological advances," says Carlin.
"International markets tend to rely on rigorous identification credentials more than in the United States, and have begun to build the infrastructure necessary to distribute and manage digital certificates or credentials for Internet security," said Richard Yanowitch, vice president of marketing for VeriSign. "With a global team, via our Affiliates, VeriSign can ensure that service providers in nine international markets now offer their customers industrial-strength security for e-commerce, communications, and business applications 24 hours a day, seven days a week."
Through Comparex`s outsourced service, companies are offered secure Internet-based transaction processing and complete transaction management services. Comparex`s electronic commerce division`s service brings global competitiveness to the doorstep of every client.
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Comparex Holdings Limited
Comparex Holdings Limited (previously PQ Holdings Limited) is South Africa`s largest and most diversified supplier of Information and Communications Technology (ICT) products and services. The company was formed in October 1997 through the merging of the operations of Persetel Holdings Limited and Q Data Limited.
This merger created an entity that represents a world of standards, where the best technology is matched with practicality, skill and care. A diverse and globally active group of Information and Communications Technology businesses with an ethos of providing unrivalled solutions to client partners.
European operations, now span 19 countries, around the highly recognisable and well respected Comparex brand with 75% of earnings derived from operations outside Africa. International visibility of the Comparex brand will be further enhanced early this year with the secondary listing of Comparex Holdings on the London stock exchange, to be followed by a further secondary listing on the Frankfurt stock exchange.
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