http://www.banktech.com/story/enews/BNK20030616S0003 MasterCard Picks Velocent for E-Invoicing Jun 16, 2003 MasterCard has added purchasing card payment options into the electronic invoice presentment and payment (EIPP) system of Velocent, a First Data affiliate, to create a B2B payment solution for its member banks. Already, Citibank and JP Morgan Chase have signed up customers such as Pantellos, a utility marketplace, and Memorial Sloan Kettering Hospital on the MasterCard "e-3P" system. With the aim of increasing usage of purchasing cards, MasterCard approached the electronic invoicing conundrum from the standpoint of the buyer rather than the seller of a transaction. The search led to Velocent. "We spent a fair amount of time doing technical and financial due diligence on a number of [EIPP] companies," said Philip J. Philliou, vice president, e-business and emerging technologies, MasterCard International, Purchase, N.Y. "They had an EIPP system that was a buyer-centric model as opposed to being basically just a merchant's billing system."
... snip .. -- Internet trivia, 20th anv: http://www.garlic.com/~lynn/rfcietff.htm
