PAYLINX CORPORATION
(Acquired by CyberSource Corporation in September 2000)
Entrepreneur: Jack MacDonnell
City: St. Louis, MO
Liquidity Event: Acquired by CyberSource Corporation (NASDAQ: CYBS) in September 2000.
PaylinX developed a highly-scalable and fully-featured payment processing system which enabled companies to process credit card payments internally, generating large savings in credit card commissions. The company's target customers were mail order, dot.com and phone order companies with high transactions volumes and low value transactions (who otherwise pay the highest bank discount rates).