Agreement with BT Ignite
Auxinet PLC
15 August 2001
Auxinet Plc sign agreement with BT Ignite
Auxinet Plc, the payment solutions specialist, and BT Ignite, BT's
international broadband and solutions business, have today signed an agreement
enabling BT Ignite to refer its customers to Auxinet's Platima product as its
recommended B2B ePayments solution. This provides buyers and sellers on the
Internet with a product that enables electronic invoicing and payment
processes between companies.
Platima is a fully automated, Internet Protocol (IP) based account management
and payment system. It facilitates secure e-trading between businesses by
means of structured 'Buyer' and 'Seller' accounts. A key benefit is that the
system is bank independent, meaning buyers and sellers can each maintain their
existing banking relationships and don't have to transfer loyalty in order to
utilise the system. Monetary value is transferred by direct debit or direct
credit between the buyers' and sellers' bank accounts.
Norman Bishop, Head of Payment Services for BT Ignite, said: 'According to
IDC, 38 per cent of European businesses already use the Internet to buy goods
and services, and another 36 per cent expect to start incorporating online
purchasing into their operations next year. We believe Platima is the first in
this marketplace with this type of service, and we anticipate strong demand.
We are delighted to have reached this agreement with Auxinet and to add their
unique solution to our portfolio of payment services.'
Marc Wood, Auxinet Group Chief Executive, said: 'Auxinet monitors the
marketplace and can see more and more businesses becoming aware of the need
for online payment initiatives. We believe that these companies will turn to
market leaders such as BT Ignite for guidance. This agreement is a great
endorsement of Platima as the best business-to-business solution of its kind
in the market.'
About Auxinet
Auxinet has two main product offerings, Platima and DataCash.
The Platima service is the first e-commerce non-bank payment system designed
and built for the B2B market. The Platima- B2B proposition enables a payment
system to be customised for the requirements of individual business models,
markets, countries and customers. The B2B market has completely different
requirements and expectations from a payment system.
Auxinet's product DataCash is targeted at the B2C market. This solution takes
the effort out of e-commerce, making it easier to add transactional
capabilities to any website by whatever the server platform, shopping cart
system or front end device - Internet, WAP, e-Call Centres, Kiosk and Digital
TV. For further information www.auxinet.com
Auxinet Plc was listed on AIM in March 2000, and specialises in e-commerce
payment solutions.
About BT Ignite
BT Ignite - BT's international broadband and solutions business - provides a
complete communications portfolio to business and wholesale customers in all
major cities throughout the world.*
BT Ignite delivers the entire IP value chain - from e-commerce consultancy and
solutions through to core networks and Internet connectivity with a unique
blend of content hosting, application service provision, systems integration
and outsourcing capabilities.
BT Ignite has already established a leadership position in terms of
traditional measures of route kilometres, number of hosting centres, local
sales and service support teams and depth of country coverage. In Europe, BT
Ignite now has significantly more reach than the nearest competitor and
delivers its portfolio in over 250 towns and cities across Europe, and to all
the world's commercial centres through BT's partners, alliance members and
subsidiaries.
* In conjunction with Concert and other partners where required.
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