New E-Payments Company Forms

Internet payment solutions provider eOne Global LP of Napa, Calif., formed a new subsidiary that will provide electronic payments services to all levels of government, the company said March 27.

The new company, govOne Solutions of Englewood, Colo., will take over eOne Global's subsidiary CashTax and the transaction processing business of GovWorks of New York.

GovWorks sold its transaction processing business to eOne Global and American Management Systems Inc. of Fairfax, Va., when GovWorks filed for bankruptcy in January.

Newly formed govOne Solutions plans to develop technologies to capture a significant share of the emerging online government payments marketplace, which is expected to reach $1 billion by 2005, according to the Boston Consulting Group.