ECnet, the first commerce service provider (CSP) in South Africa, and the only CSP to be broadly connected onto the South African banking network, has enjoyed a strong relationship with Standard Bank and ABSA since mid 1997 and recently finalised agreements with First National Bank and Boland PKS, making the e-commerce payment offering comprehensive.
Boland PKS is the fourth major bank to commit to cyber commerce by signing an agreement with ECnet. The bank agreement enables secure transactions over the Internet and facilitates current and potential credit card merchants to conduct their business on the World Wide Web. Boland PKS handles Secure Socket Layer (SSL) and is ready to switch over to Secure Electronic Transactions (SET) the moment the standard is implemented.
"Banks acquire an additional revenue stream through credit card transactions. ECnet facilitates credit card payments as the most popular form of payment for Internet stores selling to the consumer. The next phase of Internet trading will see huge growth in business to business transactions. ECnet`s transaction services already support electronic purchase orders and in future, will support additional payment methods, such as procurement cards," says Willem van Rensburg, group executive of PQ Africa`s electronic commerce division.
The South African Web e-commerce potential is piquing the interest of blue chip companies and banks alike. According to highly respected local IT and telecommunications market research specialists BMI-TechKnowledge`s Overview of Electronic Commerce in South Africa, Internet-based e-commerce transactions are to top the R1 billion mark for the first time during 1998. By 2002, South African businesses and consumers are expected to spend upwards of R47 billion a year on the World Wide Web.
ECnet currently uses SSL. This will migrate to comply with the SET (Secure Electronic Transaction) protocol once the standard is in place. Credit facilities providers such as MasterCard and Visa International are driving SET technology and it is anticipated that it will become established during 1999.
ECnet provides an extra level of security by issuing digital certificates from SACA (SA Certifications Agency). Digital certificates are used to authenticate parties, ensuring a secure transaction.
As a leading provider of Internet commerce solutions in South Africa, ECnet` s service eliminates the requirement for a merchant to develop or operate any complicated back-office transaction management system themselves. The merchant is connected to ECnet`s secure transaction processing system, that both authorises and settles transactions on-line and in real-time. Beyond providing the capability for merchants to collect their money, ECnet enables merchants to use the Internet to address their entire business process including customer service, fulfilment, and reporting. For the merchant the Internet now becomes truly "ready for business".
ECnet is responsible for commerce enabling nearly 60 of South Africa`s top Web stores, ranging from The Incredible Connection, retailing computers, to Cigafrique, selling a range of cigar merchandise.
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ECnet
ECnet, the first commerce service provider (CSP) in South Africa, is the only CSP to be directly connected onto the South African banking network, with links to four of South Africa`s major banks. ECnet has enjoyed a strong relationship with Standard Bank and ABSA since mid 1997 and recently established real-time links with First National Bank and Boland PKS.
ECnet is one of the four companies within PQ Africa`s Electronic Commerce Division. The division incorporates the capabilities of Q Data Internet, QEDI, ECnet and SACA.
ECnet enables companies or merchants to easily conduct business over the Internet, without the associated complexity. ECnet provides an outsourced service which offers merchants secure Internet-based transaction processing as well as providing comprehensive customer service facilities to merchants and buyers throughout the World Wide Web.
ECnet provides a complete transaction management service including: complete order management, on-line customer service, security, record-keeping, flexible purchasing and payment models, shipping calculation, as well as secure transaction processing.
A vast range of South African merchants have been enabled by ECnet to conduct electronic commerce over the Internet using ECnet`s back-office transaction management processing services. The list of merchants can be found in ECnet`s shopping directory shops.ecnet.co.za, which can be found on ECnet`s Web site www.ecnet.co.za.
Being part of PQ Africa, ECnet is well equipped to enhance the clients` electronic business operations providing a fully-fledged electronic commerce solution.
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