Denver-based IP Commerce has announced it has raised $17 million in Series C financing led by Venrock with Total Technology Ventures also joining as a new investor. The Company’s existing investors, Meritage Funds, Appian Ventures and Iron Gate Capital also participated in the financing.   » Continue Reading

IP Commerce has announced that it will offer payment services powered by PayPal including an email invoicing solution in PASS Commerce Center and a Sales Ticker, as part of the PASS Gadget which can be placed in the Windows Vista sidebar. According to the companies, "small businesses using PASS Commerce Center and services will benefit from improved cash flow, visibility into their financial standing, best practice security measures that reduce fraud and identity theft, and the ability to extend greater flexibility of payment options to their customers."   » Continue Reading

IP Commerce and BankServ have announced DepositNow, an online, remote check deposit service designed for small businesses that eliminates trips to the bank by enabling small businesses to deposit checks and manage accounts receivable transactions directly from the convenience of their desktop PC.   » Continue Reading

A new payments consortium called PASS (Payments As a Secure Service) announced its formation at the Microsoft Developers Conference. The consortium, which is led by IP Commerce, intends to exploit new features in Windows Vista, including the operating system's enhanced security and discovery features.

Currently, small businesses interface with credit card companies and financial services firms in the financial ecosystem through highly proprietary relationships based on one-to-one technology connections. PASS redefines this relationship by enabling Independent Software Vendors, System Integrators and Value-Added Resellers to create service-oriented financial management solutions in software applications fulfilled by best-in-class providers through a single service provisioning system.

Participants in PASS include BankServ, Chase Paymentech, PayPal, and Pay by Touch among others.