TECHNOLOGY - Sept. 19, 1996
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Investors Climb Aboard First Virtual: The San Diego-based firm said First Data Corp., First USA Paymentech Inc. and General Electric Co.’s GE Capital invested $12.5 million in the digital payment systems company. The companies also are discussing joint marketing agreements that would allow more than 200 million credit card holders to use First Virtual’s security technology for buying goods and services using the Internet. GE and First Paymentech also will take seats on First Virtual’s board. The investment and marketing agreement would let closely held First Virtual Holdings Inc. expand its reach in the electronic-payment market, where it competes with companies that include Microsoft Corp. and Cybercash Inc.
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