Arcot Selected by SunTrust to Provide Verified By Visa Capability; Arcot Hosts Online Fraud Protection Program for SunTrust's Visa Check Card Customers.Business Editors/High-Tech Writers SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Jan. 29, 2002 Arcot Systems, Inc., a leading provider of solutions for securing e-business, today announced that SunTrust Banks SunTrust Banks, Inc. (NYSE: STI) is an American bank holding company. The largest subsidiary is SunTrust Bank. It had $182.2 billion in assets as of December 31, 2006. , Inc., (NYSE NYSE See: New York Stock Exchange :STI STI systolic time intervals. ) has selected Arcot TransFort(TM) as the technological solution enabling the bank to offer the Visa Authenticated Payment Program -- Verified by Visa Verified by Visa is a system used by Visa as an added layer of security for online credit and debit cards transactions. A similar system is used by MasterCard under the name SecureCode (which is completely separate from verified by Visa, although it uses the same protocol). -- to its 1.5 million VISA Check Card customers. The Visa Authenticated Payments Program is designed to bring the same level of security to the virtual world as Visa has in the physical world by confirming to the participating e-merchant that the online buyer is the actual cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold . This program combines a complete
business framework with technological innovations that protect
Internet-based payments on a global scale and vastly improves the
payment service.The service is available through a hosted service based on the Arcot TransFort software. Arcot TransFort is the first solution to be named compliant with the 3-D Secure Interoperability protocol by the Visa Compliance Testing Facility for the Visa Authenticated Payment Program. Arcot TransFort currently supports over 20 banks worldwide and over 40 merchants, and is the only product to offer both a card issuer and merchant solution. "We are excited that our TransFort hosted solution has been chosen by a leading bank such as SunTrust. Card issuers are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a partner with a proven solution and the experience to make sure their customers will have a responsive, reliable service," said Chet Silvestri, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Arcot. "No one has our depth of product or experience in this area. We've had our solution in deployment at major banks worldwide for over a year." "Verified by Visa provides extra security to our customers who shop on-line," said Kerry Brashears, first vice president and Check Card product manger at SunTrust. "We're pleased to work with Arcot Systems -- a company known for its technological expertise and dedication to customer service -- in bringing this valuable service to our Check Card customers." Arcot TransFort for the Visa Authenticated Payments Program Arcot TransFort Solutions is a comprehensive suite of products based on the 3-D Secure Interoperability standard that is designed to meet the breadth of needs for merchants and banks worldwide. Arcot TransFort Solutions are available in each of the following: -- TransFort Issuing Bank Software -- TransFort Issuing Bank Solution for Hosted Service Providers and Processors -- TransFort Merchant Plug-in Software -- TransFort Merchant Solution for Hosted Service Providers and Processors Visa's Authenticated Payments Program Visa's Authenticated Payments Program is a comprehensive e-commerce program designed to ensure safe and secure online payment transactions. Central to the Visa Authenticated Payments Program is a new commercial framework that protects cardholders while shopping online because their Issuer authenticates their cardholder during the sale and notifies the merchant that the buyer is legitimate. Upon completion of the shopping and checkout process -- which remains unchanged from the cardholder experience today -- the cardholder is asked to confirm their purchase with their issuer. The Issuer provides the merchant with a confirmation that is validated by the merchant using a plug-in software module. With Visa Authenticated Payment, Visa is providing the same level of security in the virtual world as Visa has in the physical world. About Arcot TransFort Arcot TransFort strongly authenticates and digitally signs transactions in real-time, providing for the secure, non-repudiation of online payments. Scalable to hundreds of millions of transactions, Arcot TransFort allows companies to grow the volume and value of their online transactions and provide their customers with an added level of confidence and security in the business relationship. Arcot TransFort is a multi-platform solution capable of authenticating transactions across Web, Virtual Private Network (VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. ), and wireless environments. In addition, Arcot TransFort can comply with a variety of business rules or procedures that govern online payments and support multiple authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. methods including username/password, physical smart cards Example of widely used contactless smart cards are Hong Kong's Octopus card, Paris' Calypso/Navigo card and Lisbon' LisboaViva card, which predate the ISO/IEC 14443 standard. The following tables list smart cards used for public transportation and other electronic purse applications. (or "chip cards"), and the ArcotID(TM) Software Smart Card. About Arcot Arcot Systems, Inc., is the leading provider of authentication and access control solutions for securing e-business in Internet-scale, transactional and wireless environments. Only Arcot provides cost-effective, scalable, software-based solutions for strongly authenticating users and transactions and managing access for payment systems, B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business extranets, Web portals and virtual private networks. Arcot solutions meet the business need for strong transactional security while providing the customer a user-friendly experience with anytime, anywhere convenience. Leaders in financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , healthcare, and e-commerce are using Arcot solutions to protect their customers' privacy and reduce fraud. For more information, visit www.arcot.com. |
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