Yahoo Launches E-Payments Program

FRAMINGHAM (08/03/2000) - Yahoo Inc. in Santa Clara, Calif., last week jumped into the person-to-person online payments market with the launch of its PayDirect service, in cooperation with CIBC National Bank, a subsidiary of Canadian Imperial Bank of Commerce in Toronto. The service, similar to PayPal (offered by Palo Alto, Calif.-based Corp.), lets users send, receive and request payments via e-mail by linking their Yahoo PayDirect accounts to their credit or debit cards or bank accounts.

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