Home  >  About Us  >  Press Releases  >  Press Release Archive 2007  >  Press Release - April 18, 2007  

Press Release - April 18, 2007

Authorize.Net Enhances Automated Recurring Billing™

2007 ETA Annual Meeting & Expo, LAS VEGAS, NV, April 18, 2007 — Authorize.Net Corp., a service of Lightbridge, Inc., (NASDAQ: LTBG), announced today the availability of an application programming interface (API) for its Automated Recurring Billing™ (ARB) service. ARB allows merchants to create "subscriptions" or recurring transactions as an additional payment option for customers. Merchants simply provide the customer's payment information, a payment schedule and the subscription duration, and ARB does the rest, generating subsequent transactions automatically.

The ARB API is a free enhancement for ARB subscribers that enables merchants integrated to Authorize.Net via the Advanced Integration Method (AIM) to create and submit recurring transactions to the payment gateway directly from a Web site or other proprietary billing application. The addition of the API significantly increases ARB's functionality, allowing merchants to:

  • Expedite the creation and management of large volume subscriptions.
  • Build subscription or installment-based payment options on their Web site payment form.
  • Eliminate the need to manually enter, update or cancel subscriptions in the Authorize.Net Merchant Interface.

Additionally, all ARB data is stored in Authorize.Net's highly secure data center, which complies with the Payment Card Industry (PCI) Data Security Standard, thereby providing merchants and their customers with an added level of security.

"Authorize.Net initially launched the ARB service in 2003," stated Roy Banks, president of Authorize.Net. "Since then, thousands of our merchants have used ARB to streamline their business, reduce transaction declines and potentially save money in transaction fees. With the addition of the API, we expect ARB's adoption to accelerate as more merchants take advantage of this new functionality. We're thrilled to be able to offer it to our merchants without any additional service fees."

Deepika Prakash, founder of PatternReview.com, was one of the first Authorize.Net merchants to implement the ARB API during its beta phase. "You cannot imagine how excited I was," stated Deepika. "Through the API, PatternReview.com now creates, cancels or modifies subscriptions automatically. I also created a program that sends e-mails to customers with upcoming credit card expirations which include a link to an update form all processed through the API. It's seamless."

Authorize.Net merchants already using ARB that are interested in implementing the API should contact their Web developer. A developer guide is available at http://www.authorize.net/support/ARB_guide.pdf. Merchants interested in activating ARB for their account can learn more in the Authorize.Net Merchant Toolbox at http://www.authorize.net/toolbox or can sign up in the Merchant Interface at https://secure.authorize.net.

A case study documenting PatternReview.com's success with the ARB API is available for download at http://www.authorize.net/resources/casestudies/.

About Lightbridge and Authorize.Net (http://www.authorize.net)
Lightbridge's payment processing business, Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable over 166,000 merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, at retail, mail order/telephone order (MOTO) call centers and on wireless devices. In addition to its payment solutions, Authorize.Net offers extensive value-add products designed to help merchants manage their business, fight fraud, and improve profitability. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers.

About PatternReview.com (www.patternreview.com)
PatternReview.com is used by nearly 93,000 sewing enthusiasts to collaborate, share and discuss their current sewing projects as well as their future ones. It catalogs and describes a variety of sewer's experiences and opinions in a structured way, allowing other sewers to quickly and easily find the information they are looking for. PatternReview.com currently features nearly 30,000 sewing reviews contributed by its members.

AUTHORIZE.NET, LIGHTBRIDGE, the Lightbridge logo and eCheck.Net are registered trademarks and Automated Recurring Billing is a trademark of Lightbridge, Inc. or its subsidiaries. All other marks are the property of their respective owners.

Forward-looking Statements
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's products, services, eCheck.Net, the Pre-Approval Program, markets and growth prospects and success are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) the Company's revenue concentration in the payment processing business, (ii) continuing rapid change in the payment processing industry and other markets in which the Company does business that may affect both the Company and its customers, (iii) the impact of competitive products, services and pricing on both the Company and its products and services, (iv) market acceptance of the company's new or enhanced products, services, technologies, including the eCheck.Net Pre-Approval Program, (v) current and future economic conditions generally and particularly in the telecommunications and payment processing industry, (vi) uncertainties about the Company's ability to execute on, and about the impact on the Company's business and operations of, its objectives, plans or strategies as a result of potential technological, market or competitive factors, (vii) the impact of compensation expense, restructuring, asset impairment and other charges on the Company's business and operations, (viii) integration, employee retention, recognition of cost and other benefits and revenue synergies, and other risks associated with acquisitions, (ix) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions and attacks on Authorize.Net's payment system that may impair the operation of its payment systems, changes in or failures to comply with credit card association rules and governmental regulations, changes in the application of existing laws and the impact of new laws, and dependence on relationships with resellers, certain financial institutions and third party payment processors, and (x) the factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission including, without limitation, its fourth quarter 2006 Quarterly Report on Form 10-Q, 2006 Annual Report on Form 10-K, and other public filings. The Company undertakes no obligation to update any forward-looking statements.
###



Contacts:

David Schwartz
Authorize.Net Corp.
Authorize.Net
425-586-6039
david@authorize.net

Lynn Ricci
Lightbridge, Inc.
781-359-4854
lricci@lightbridge.com

Authorize.Net Enhances its Hosted Payment Form

2007 ETA Annual Meeting & Expo, LAS VEGAS, NV, April 18, 2007 — Authorize.Net Corp., a service of Lightbridge, Inc., (NASDAQ: LTBG), announced today the upcoming release of its enhanced hosted payment form, which allows merchants to accept consumer payments through their Web sites without ever having to collect, transmit, or store sensitive cardholder information.

The hosted payment form is a key component of Authorize.Net's Server Integration Method (SIM), which is used for connecting to the payment gateway. With SIM, the payment gateway handles each of the steps in the transaction process; including the secure collection and transmission of all consumer payment information, the generation of a receipt to the customer, and the secure storage of all cardholder information for the merchant.

New enhancements to the hosted payment form include:

  • Strengthened security featuring CAPTCHA, which eliminates the threat of automated fraud attempts by requiring the customer to manually type letters and/or numbers that appear in a randomly-generated image on the payment form.
  • Additional capability for displaying line-item information on the payment form.
  • Further customization of the look and feel of the payment form to better match the merchant's Web site.
  • The ability for the merchant to preview their customized payment form in the Merchant Interface.

Authorize.Net's hosted payment form is an ideal solution for merchants as its data handling capabilities greatly simplify the cost and effort required for their compliance with the Payment Card Industry (PCI) Data Security Standard. Another key advantage is that merchants using the hosted payment form do not have to purchase and install a Secure Sockets Layer (SSL) certificate to process secure transactions. The security of a SIM transaction is assured through transaction unique encryption, and bolstered by the new CAPTCHA feature.

The hosted payment form is also capable of displaying the Authorize.Net Verified Merchant Seal™, which confirms to consumers that the merchant they are purchasing from is a verified Authorize.Net merchant. By displaying the seal, merchants can increase confidence for consumers who may be concerned about the security of making online purchases.

"Data security and compliance with industry regulations such as PCI is more important than ever," stated Roy Banks, Authorize.Net president. "With these enhancements to our hosted payment form we expect more merchants of all sizes to integrate to Authorize.Net via SIM in order to take advantage of its secure data handling and storage of cardholder information."The hosted payment form enhancements are expected to be released to the public in mid May. Merchants and developers interested in learning more can download the SIM Implementation Guide available at http://developer.authorize.net/guides.

About Lightbridge and Authorize.Net (http://www.authorize.net)
Lightbridge's payment processing business, Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable over 166,000 merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, at retail, mail order/telephone order (MOTO) call centers and on wireless devices. In addition to its payment solutions, Authorize.Net offers extensive value-add products designed to help merchants manage their business, fight fraud, and improve profitability. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers.

AUTHORIZE.NET, LIGHTBRIDGE, the Lightbridge logo and eCheck.Net are registered trademarks and Automated Recurring Billing is a trademark of Lightbridge, Inc. or its subsidiaries. All other marks are the property of their respective owners.

Forward-looking Statements
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's products, services, eCheck.Net, the Pre-Approval Program, markets and growth prospects and success are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) the Company's revenue concentration in the payment processing business, (ii) continuing rapid change in the payment processing industry and other markets in which the Company does business that may affect both the Company and its customers, (iii) the impact of competitive products, services and pricing on both the Company and its products and services, (iv) market acceptance of the company's new or enhanced products, services, technologies, including the eCheck.Net Pre-Approval Program, (v) current and future economic conditions generally and particularly in the telecommunications and payment processing industry, (vi) uncertainties about the Company's ability to execute on, and about the impact on the Company's business and operations of, its objectives, plans or strategies as a result of potential technological, market or competitive factors, (vii) the impact of compensation expense, restructuring, asset impairment and other charges on the Company's business and operations, (viii) integration, employee retention, recognition of cost and other benefits and revenue synergies, and other risks associated with acquisitions, (ix) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions and attacks on Authorize.Net's payment system that may impair the operation of its payment systems, changes in or failures to comply with credit card association rules and governmental regulations, changes in the application of existing laws and the impact of new laws, and dependence on relationships with resellers, certain financial institutions and third party payment processors, and (x) the factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission including, without limitation, its fourth quarter 2006 Quarterly Report on Form 10-Q, 2006 Annual Report on Form 10-K, and other public filings. The Company undertakes no obligation to update any forward-looking statements.
###



Contacts:

David Schwartz
Authorize.Net Corp.
Authorize.Net
425-586-6039
david@authorize.net

Lynn Ricci
Lightbridge, Inc.
781-359-4854
lricci@lightbridge.com

Authorize.Net Announces eCheck.Net® Pre-Approval Program

2007 ETA Annual Meeting & Expo, LAS VEGAS, NV, April 18, 2007 — Authorize.Net Corp., a service of Lightbridge, Inc., (NASDAQ: LTBG), announced today the completion of a major initiative to pre-approve merchants for eCheck.Net®, Authorize.Net's exclusive, fully integrated electronic check service. The pre-approval program virtually eliminates the underwriting process and setup time typical of an eCheck.Net account.

eCheck.Net enables Web and mail order/telephone order (MOTO) merchants to accept and process electronic check payments, which are deducted directly from their customers' bank accounts. By accepting electronic checks, merchants expand the payment options available to their customers, potentially increasing both customer loyalty and revenue. eCheck.Net can also be combined with Authorize.Net's popular Automated Recurring Billing™ (ARB) service to create an additional option for subscription-based payments.

eCheck.Net provides several benefits for merchants, but it also offers numerous advantages for Authorize.Net's extensive network of resellers. With great features like low buy rates, volume-based pricing, and the ability to set their own sell rates while offering price incentives, resellers are able to increase their monthly revenues while increasing merchant loyalty.

"eCheck.Net has been an important payment option for Authorize.Net merchants and resellers since its launch in 1997," stated Bob Donahue, president and chief executive officer of Lightbridge, Inc. "We want to provide the opportunity to as many merchants as possible to expand their revenue by accepting one of the fastest-growing payment methods for online customers. Our pre-approval program will make signing up for the service more convenient and faster than ever. We expect that our resellers will encourage their merchants to take advantage of this exciting opportunity."

Gary Mayberry, Gateway Specialist of iPayment added, "As an Authorize.Net reseller, I applaud Authorize.Net for undertaking this initiative. By pre-approving these merchants, it will be significantly easier to upsell eCheck.Net and provide our merchants and their customers with a valuable new payment option."

Merchants interested in learning more about eCheck.Net can visit the Authorize.Net Web site at http://www.authorize.net/echeck. Authorize.Net will be contacting pre-approved merchants in the near future. Merchants may also contact their reseller to inquire about their pre-approval status.

A case study that illustrates how offering eCheck.Net as an additional payment option can help a business enhance its customer service by is available for download at http://www.authorize.net/resources/casestudies/.

About Lightbridge and Authorize.Net (http://www.authorize.net)
Lightbridge's payment processing business, Authorize.Net provides secure, reliable, Internet Protocol (IP) based payment gateway solutions that enable over 166,000 merchants to authorize, settle and manage electronic transactions anytime, anywhere, via Web sites, at retail, mail order/telephone order (MOTO) call centers and on wireless devices. In addition to its payment solutions, Authorize.Net offers extensive value-add products designed to help merchants manage their business, fight fraud, and improve profitability. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer its industry leading payment services to their merchant customers.

AUTHORIZE.NET, LIGHTBRIDGE, the Lightbridge logo and eCheck.Net are registered trademarks and Automated Recurring Billing is a trademark of Lightbridge, Inc. or its subsidiaries. All other marks are the property of their respective owners.

Forward-looking Statements
Certain statements in this news release that are not historical facts, including, without limitation, those relating to the Company's products, services, eCheck.Net, the Pre-Approval Program, markets and growth prospects and success are forward-looking statements that involve risks and uncertainties. Such statements are based upon the current beliefs and expectations of the management of the company. Actual results may vary materially from those contained in forward-looking statements based on a number of factors including, without limitation, (i) the Company's revenue concentration in the payment processing business, (ii) continuing rapid change in the payment processing industry and other markets in which the Company does business that may affect both the Company and its customers, (iii) the impact of competitive products, services and pricing on both the Company and its products and services, (iv) market acceptance of the company's new or enhanced products, services, technologies, including the eCheck.Net Pre-Approval Program, (v) current and future economic conditions generally and particularly in the telecommunications and payment processing industry, (vi) uncertainties about the Company's ability to execute on, and about the impact on the Company's business and operations of, its objectives, plans or strategies as a result of potential technological, market or competitive factors, (vii) the impact of compensation expense, restructuring, asset impairment and other charges on the Company's business and operations, (viii) integration, employee retention, recognition of cost and other benefits and revenue synergies, and other risks associated with acquisitions, (ix) the industry risks associated with Authorize.Net's business and operations including, without limitation, illegal or improper uses of Authorize.Net's payment system, unauthorized intrusions and attacks on Authorize.Net's payment system that may impair the operation of its payment systems, changes in or failures to comply with credit card association rules and governmental regulations, changes in the application of existing laws and the impact of new laws, and dependence on relationships with resellers, certain financial institutions and third party payment processors, and (x) the factors disclosed in the Company's filings with the U.S. Securities and Exchange Commission including, without limitation, its fourth quarter 2006 Quarterly Report on Form 10-Q, 2006 Annual Report on Form 10-K, and other public filings. The Company undertakes no obligation to update any forward-looking statements.

###



Contacts:

David Schwartz
Authorize.Net Corp.
Authorize.Net
425-586-6039
david@authorize.net

Lynn Ricci
Lightbridge, Inc.
781-359-4854
lricci@lightbridge.com