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Transact

An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting and analysis. See Open Market.



Open Market

(Open Market, Inc., Cambridge, MA) A software company founded in 1994 by Shikar Ghosh and David Gifford that specialized in Web e-commerce. Its Transact system enabled Web servers to conduct secure order fulfillment using credit cards and other payment systems. Open Market was the first company to provide a single point of access control, user authentication and financial processing to multiple content servers (online storefronts, cybermalls, internal websites, etc.). In 2001, the company was acquired by divine, inc., which two years later, sought bankruptcy protection. Its content management assets were sold to FatWire Software, Mineola, NY (www.fatwire.com) in 2003.



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