RIGHTPATH PAYMENTS AND IDENTRUST SIGN PARTNERSHIP AGREEMENT ADDING INDUSTRY LEADING AUTHENTICATION TO BUSINESS PAYMENT CONNECTION SM
Trade credit and transaction processing plus global security standard will enable banks to finance their customers’ business worldwide
PROVIDENCE — February 20, 2007 — RightPath Payments, Inc. announced today that it has signed an alliance agreement with IdenTrust, Inc., the global leader in trusted identity solutions, whereby the companies will enhance Business Payment Connection, RightPath’s flagship product, with comprehensive identity authentication capabilities.
Business Payment Connection (BPC) is an innovative, web-based, business-to-business payments facility that replaces a seller’s trade credit with a lender’s credit. BPC links lenders with both sellers and their buyers, and all parties have complete end-to-end visibility of every transaction. The solution speeds up sellers’ cash flow while extending buyers’ payment terms and placing the lender at the nexus of the relationship.
“IdenTrust provides a global framework for banks to authenticate their customers for secure commerce,” stated Dennis Lynch, CEO and Chairman of RightPath Payments. “This alliance combines IdenTrust’s legally and technologically interoperable environment for authenticating and using identities worldwide with our end-to-end process flow. It will streamline the entire buyer-seller experience, regardless of where in the world the two parties operate.”
“Global corporations are seeking a secure, interoperable, non-repudiable yet straightforward process for their trade credit transactions. Many parts of this process remain very paper intensive. Together, IdenTrust and RightPath are undertaking the transition of this paper to electronic, digitally signed forms in which all parties in the supply chain are authenticated throughout the end-to-end process. This enables both buyers and sellers to have a complete audit trail with individual accountability at each stage,” stated Andrea Klein, Chief Marketing Officer of IdenTrust.
In conducting the research that led to the development of Business Payment Connection, RightPath found that the absence of customized payment solutions forces the majority of sellers to extend trade credit. BPC was designed specifically to replace trade credit, which slows down cash flow and places limits on sales growth. RightPath’s technology speeds up seller cash flow while allowing for extended buyer payment terms. It strengthens the relationship between buyer and seller; it gives both parties full online access to order or contract information, and can be tailored precisely to fit each individual situation.
The combined capabilities of IdenTrust and RightPath are increasingly important in the era of global Internet commerce. RightPath’s technology-based solution meets the pressing needs of growing businesses – for credit, payment speed, flexible terms, and streamlined ordering and invoicing. IdenTrust’s provides identity authentication solutions that are comprehensive and flexible enough to evolve with emerging threats, while ensuring the global interoperability required for e-commerce initiatives that increasingly span the world.
About IdenTrust
IdenTrust is a leader in trusted identity solutions, recognized by global financial institutions, government agencies and departments, and commercial organizations around the world. IdenTrust enables organizations to effectively manage the risks associated with identity authentication; work interoperably with countries around the world; minimize investment in creating their own policies and legal frameworks; and deploy a spectrum of products insuring trust smarter, faster, and more cost-effectively. The only bank-developed identity authentication system, IdenTrust provides a unique legally and technologically interoperable environment for authenticating and using identities worldwide. The IdenTrust Trust Infrastructure is predicated on a proprietary framework that combines policies, legal framework, trusted operations and technology (P.L.O.T.) to create a comprehensive environment for issuing trusted identities. IdenTrust is the only company to provide a solution incorporating all four of these elements. Customer agreements are valid, binding and enforceable in more than 175 countries. IdenTrust identities are globally interoperable under uniform private contracts recognized in countries around the world. Competing offerings, in contrast, rely on a dizzying maze of public laws that vary from jurisdiction to jurisdiction. Additionally, the IdenTrust Trust Infrastructure maintains the privacy of each and every transaction processed by reading only digital certificate information, not the message itself. For more information, visit the Web site at www.Identrust.com.
About RightPath
RightPath Payments, Inc. is a business-to-business payment company offering the patent-pending Business Payment Connection (BPC), an Internet-based financing and payment solution that replaces seller trade credit with a lender’s credit while automating and streamlining paper-based invoicing and payment processes. BPC meets the needs of growing businesses by accelerating payments and strengthening cash flow for sellers while giving buyers access to additional working capital to finance sales growth. RightPath is headquartered in Providence, RI. For more information, visit www.rppay.com or call (877) 781-4100.
RIGHTPATH CONTACT:
Dennis Lynch, Chairman & CEO
Tel: 877-781-4100
dlynch@rppay.com
PRESS CONTACT:
Ray Graber, Graber Associates LLC
Tel: 781-221-0018
ray@graberassociates.net