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Contact: Kendra M. Romley Public Relations Manager Go2Net, Inc. (415) 979-1402 kendrar@go2net.com
Gary Galati
Go2Net's Authorize.Net and Planet Payment Formalize Joint Venture PROVO, UT and NEW YORK, NY, March 9, 2000 - Authorize.Net Corporation, (http://www.authorize.net/), a leading payment authorization service for online businesses, and Planet Payment, (http://www.planetpayment.com/), the leader in providing global payment solutions for an e-world, have launched a joint venture to provide end-to-end payment solutions for online merchants located outside of the United States and US-based merchants who wish to implement a non-US or multi-currency Internet payment solution. Authorize.Net is a part of the Go2Net Network (Nasdaq: GNET), (http://www.go2net.com/). Authorize.Net and Planet Payment have worked together to create one of the first multi-currency Internet payment gateways, which will be marketed under the Planet Payment™ brand, and will be powered by Authorize.Net. The Planet Payment Gateway and Planet Payment's innovative Internet payment solutions will allow online merchants everywhere the ability to accept credit card payments in more than 140 currencies. The gateway is scheduled to be available in early April, with applications for the services currently available via both the Authorize.Net and Planet Payment Web sites. "We see the Internet as the first truly global sales tool with multi-currency payment options allowing online merchants to sell their goods and services worldwide," said David O. Heaps, Authorize.Net CEO. "Our joint venture with Planet Payment provides a solution for merchants everywhere who are faced with the challenge of receiving online payments from international customers. We are very excited about the opportunities that will stem from this relationship." Authorize.Net currently provides payment solutions for more than 65,000 online merchants. Of those merchants, there are many that wish to implement non-US or multi-currency Internet payment solutions, and will directly benefit from this joint venture. "This agreement with Authorize.Net is another step in Planet Payment's previously stated strategy to become the global leader in providing multi-currency credit card payment solutions to merchants and institutions everywhere," says Philip Beck, Chief Executive Officer of Planet Payment. "This venture will help merchants worldwide with the most important issue they face - the ability to get paid online in a secure environment as they conduct business in the evolving and competitive electronic business environment." According to eMarketer, an international research firm, the e-sales horizon is shifting from U.S. dominance today toward equilibrium by 2003. In 1999, the U.S. share of e-commerce revenues approached three-fourth's of the world's total. By 2003, however, the U.S. will only account for 53% of overall global revenues, which are expected to top $1.2 trillion.
About Planet Payment
About Authorize.Net Corporation
About Go2Net, Inc.
This announcement contains forward-looking statements that involve risks and uncertainties, including those relating to the company's ability to grow its user and advertiser base. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the company's limited operating history, the competitive environment in which the company competes, the early stage of the Web as an advertising and electronic commerce medium, the company's dependence on advertising, sponsorship and commerce revenues, the company's dependence on strategic relationships to drive traffic to its Web sites, consumer acceptance of the company's new products and services, the company's ability to develop and integrate new technologies and services into its existing services and into new platforms, such as broadband, and the increased use of the Web for commerce. More information about the potential factors that could affect the company's business and financial results is included in the company's Annual Report on Form 10-K for the year ended September 30, 1999, which is on file with the Securities and Exchange Commission.
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