Amazon.com is expanding beyond books; top Internet retailer buys 2 companies

Article Abstract:

Amazon.com announced the acquisition of Junglee and Planet All in a move to diversify its electronic commerce offerings. Financial terms call for Amazon.com to pay $187 million for Junglee and $93 million for Planet All in stock exchanges. The Junglee deal is based on its Aug 3, 1998, closing price. Retailing books and music compact disks has catapulted Amazon.com to the top of the electronic commerce market with 3.1 million customers and 1st half 1998 sales of $203 million. Amazon.com intends to expand its services by helping customers locate other Internet stores, according to founder Jeff Bezos. Profit from the new avenue most likely would come from Internet store commissions, analysts said. Junglee manufactures Internet price-comparison software as well as comparison shopping services on various Internet sites. Planet All serves 1.5 million customers with an Internet service address service that allows users to maintain contact with friends and associates.

Mergers, acquisitions and divestments, Company acquisition/merger, Amazon.com Inc., Junglee Corp., Planet All

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New security system for Internet purchases has its doubters

Article Abstract:

The Secure Electronic Transaction (SET) system, expected to be deployed early in 1998, is meant to secure credit card transactions over the Internet. SET makes it harder for someone to steal a transmitted credit card number and makes it easier for on-line merchants to authenticate shoppers' identities. Even so, and in spite of investments amounting to tens of millions of dollars by software and financial companies, there is growing doubt about SET among bankers and companies doing business on the Internet. Critics complain that the system is slow and expensive, and they say it is too cumbersome for shoppers. It is suggested that the SET controversy could serve as a reminder that the Internet has flourished on a basis of simple technology developed in incremental steps, not on complex, expensive systems developed by 'experts.'

Standards, Internet, Telecommunications services industry, Telecommunications industry, Standard, Standardization, Internet/Web technology application, Technology application, World Wide Web

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Internet merchants try to fight fraud in software purchases

Article Abstract:

Software piracy is a growing problem that threatens to have a negative impact on the proliferation of electronic commerce. One of the chief venues of illegal Internet activity involves users who leverage fraudulent or stolen credit card numbers to order expensive software programs via the Internet. Services such as CyberSource, which distributes software electronically, find that such illegal activity often encompasses as much as 20% of the orders they process. As such, efforts are being made to develop security procedures that help electronic software distributors identify and stop security risks. CyberSource, for example, is now offering a security service to other vendors which uses a model containing 150 factors to help shut down electronic thieves.

Services, Computer hackers, Internet/Web technology, Software piracy, Hacker, CyberSource Corp., Electronic software distribution

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