BT Ignite Announces Outsourced Visa 3-D Secure Payment Authentication Solution for European Banks Using Arcot's TransFort Solution.Business Editors and 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. and LONDON--(BUSINESS WIRE)--Nov. 1, 2001 BT Ignite, BT's international and broadband solutions business and Arcot Systems Inc., a leading provider of solutions for securing e-business, today announced an outsourced, 3-D Secure payment 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. solution for European Visa financial institutions and card processors. Based on Arcot's TransFort(TM) authentication solution, this service will be available from BT Ignite on an Application Service Provider (ASP) basis and will provide card issuers with a quick and easy way to comply with the new Visa Authenticated au·then·ti·cate tr.v. au·then·ti·cat·ed, au·then·ti·cat·ing, au·then·ti·cates To establish the authenticity of; prove genuine: a specialist who authenticated the antique samovar. Payment Program that is due to come into effect in April 2002 in the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community and by April 2003 for the rest of the world. Arcot's TransFort real-time authentication solution, the first to be named compliant with the 3-D Secure Protocol, empowers Visa member banks and card issuers to validate To prove something to be sound or logical. Also to certify conformance to a standard. Contrast with "verify," which means to prove something to be correct. For example, data entry validity checking determines whether the data make sense (numbers fall within a range, numeric data the cardholder's identity during an online transaction. As a result, card issuers, who under the new rules will bear the liability for online card fraud, will be able to minimize their risk as well as enhance their customers' peace of mind when purchasing over the Internet. By purchasing the service via the ASP model, the initial cost and time taken to implement the service are reduced, enabling card issuers to rapidly and cost effectively meet the requirements of 3-D Secure. Jane Vose, head of e-commerce products, BT Ignite Products and Marketing, said: "According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the National Consumers League, 43 per cent of Internet-using consumers in the US say having their credit card number stolen is their biggest e-commerce-related concern. The ability to buy and sell over the Internet is an essential element of the digital revolution, yet billions of pounds are being lost each year because of 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. . As a result, many businesses and consumers are being deterred from taking part. Through working with Arcot, BT Ignite is deploying a leading edge solution that will protect merchants and card issuers online and boost consumer confidence in e-commerce. Jon Prideaux, Executive Vice President at Visa International: "We are delighted that BT Ignite and Arcot have come together to offer the first 3D Secure payment authentication service in Europe. This is exactly the sort of initiative that will make secure Internet payments a reality, thereby giving consumers and merchants confidence in online shopping. We look forward to working with BT Ignite, Arcot and other vendors to speed up the reality of online shopping." David Norris
Visa Authenticated Payment Program is based on the 3-D Secure Interoperability The capability of two or more hardware devices or two or more software routines to work harmoniously together. For example, in an Ethernet network, display adapters, hubs, switches and routers from different vendors must conform to the Ethernet standard and interoperate with each other. Protocol and is designed to bring the same level of security to the virtual world as Visa has in the physical world by confirming to the 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 . The service reduces disputes related to fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. Internet transactions, resulting in increased consumer and merchant confidence in electronic commerce. The service will be hosted in BT Ignite's secure hosting facility in Cardiff. About Visa's Authenticated Payment 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(TM) 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(TM) 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(TM) 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(TM) can comply with a variety of business rules or procedures that govern online payments and support multiple authentication 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 BT Ignite BT Ignite - BT Group's international solutions and broadband business - is a leading provider of communications services to business and wholesale customers around the world. From e-commerce consultancy and solutions through to core networks and Internet connectivity, BT Ignite delivers across the entire IP value chain with a unique blend of content hosting, application service provision, systems integration and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. capabilities. BT Ignite has established a strong European footprint and controls its own infrastructure. It serves customers through local sales and service support teams, with 54,000 route kilometres of fibre connecting 275 cities and over 20 content hosting centres. BT Ignite delivers worldwide services via its solutions operations and BT Global Business, in conjunction with other partners where required. Further information is available at www.ignite.com 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 See portal. 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 solution to protect their customers' privacy and reduce fraud. For more information, please visit: www.arcot.com |
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