Arcot Systems & Mosaic Software Partner to Market Verified by Visa and SecureCode Authentication Programs for Postilion Customers Worldwide.Business Editors/High-Tech Writers TORONTO & DEERFIELD BEACH Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Fla.--(BUSINESS WIRE)--Nov. 19, 2002 Alliance Targets Online Credit Card Fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. Through Packaged Payment and Authentication Solutions Arcot Systems, Inc., a leading authentication provider, and Mosaic Software, the global transaction software provider, today announced an agreement to market Arcot's TransFort(TM) authentication software with Mosaic Software's Postilion suite of payment products worldwide. The two companies will co-market a payments processing and authentication solution suite to their respective client bases. By aligning Arcot's TransFort payer authentication product with Mosaic Software's Postilion suite, the alliance provides issuers, acquirers, processors and merchants with a complete solution, that offers consumers greater security when using their cards online, dramatically reduces the number of disputed transactions, and delivers proven transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. capabilities. The partnership will enable all 200-plus Postilion customers to become 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). and SecureCode compliant virtually overnight. This integrated offering provides one-stop access to the services needed to make e-commerce a safe reality for consumers, merchants and financial institutions. Verified by Visa and SecureCode significantly reduce fraud and customer disputes by allowing cardholders enter a personalized password at participating online stores. This password authenticates the cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold to the issuer, reducing the chances of fraudulent use of cards and subsequent repudiation of transactions. "We are pleased to be working with Mosaic Software to deliver a comprehensive solution for Visa and MasterCard online authenticated payments," said Steve Ryan Steve Ryan (19 June 1947 – 3 September 2007) was an American actor. He was best known for his recurring role on the Fox sitcom, Arrested Development, as J. Walter Weatherman. , Vice President Corporate Development at Arcot Systems. "By combining Arcot's TransFort solution for Visa's Verified by Visa program and MasterCard's SecureCode program with Mosaic Software's Postilion payment software, we will provide a robust approach to enhance the security of online payments for merchants, acquirers, issuers and processors." "We are delighted to be extending the capabilities of our Postilion family of products to include Verified by Visa authentication services," said Johann Dreyer, 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 Mosaic Software. "This addition will enhance our customers' ability to promote and deliver safe shopping experiences online." 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 methods including username/password (pass-code), physical smart cards (or "chip cards"), and the ArcotID(TM) Software Smart Card. 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 solutions based on the ArcotID(TM) Software Smart Card for strongly authenticating users and transactions for payment systems, Web-based email, 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. Serving over 4000 leaders in financial services, healthcare, and e-commerce, Arcot delivers solutions to protect their customers' privacy and reduce fraud. For more information, visit www.arcot.com. Mosaic Software is a leading edge provider of electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. (EFT) software for consumer-generated electronic transactions, and is the market leader for web-enabled ATM and prepay software solutions. The company is held by strategic partners GE Equity, Comparex Holdings and Mosaic management. With offices in the USA, a European office in the UK, South Africa and Australia, Mosaic has a strong global presence. The company is firmly established in the financial services industry and its EFT solutions drive operations in a large number of multinational companies and industry leaders around the globe. Clients include financial institutions, retailers, Internet service providers Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. , card issuers, telcos, data processing service providers and some of the foremost players in the emerging online industry, in the USA, Latin America and the Caribbean, Europe, Australia, the Middle East, Africa and the Asia-Pacific region. Mosaic's family of products, named Postilion, is a comprehensive software solution designed to effectively handle the transaction delivery and authorization requirements of every aspect of the EFT arena. Worldwide, Postilion is used for ATM Processing/Monitoring, EFT Switching and Routing, Point-of-Sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ), Credit/Debit Card Processing, Internet/Call Center Payment Authorizations, Prepayment, Internet/Home Banking and Mobile Commerce applications. Operating as the first fully-fledged EFT switch running on Windows NT/Windows 2000, Postilion is live in more than 500 installations worldwide. Mosaic Software clients include 7-Eleven (US), E*Trade (US), Columbus Data Services (US), Sky Financial Group (US), Woodforest National Bank Woodforest National Bank is a The Woodlands, Texas-based bank, founded in 1980, that operates branches in Texas, North Carolina, Ohio, Pennsylvania, Illinois, Indiana, South Carolina, Alabama,New York, West Virginia, Maryland and Virginia. (US), Arrowhead Central Credit Union (US), Honda Federal (US), Retail Decisions (UK), Marks & Spencer (UK), Calypso Calypso, in Greek mythology Calypso (kəlĭp`sō), nymph, daughter of Atlas, in Homer's Odyssey. She lived on the island of Ogygia and there entertained Odysseus for seven years. (Canada), Laser Cash (Canada), Transaction Network Services (UK), NBS (National Bureau of Standards) See NIST. NBS - National Bureau of Standards: part of the US Department of Commerce, now NIST. (SA), and MTN MTN A short-form for Medium Term Note. MTN Medium term notes issued by corporations, much like shorter-term commercial paper. MTN See medium-term note (MTN). (SA). An overview of the company and product may be found at: www.mosaicsoftware.com. |
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