Bank of Ireland Launches Europe's First Virtual Credit Card Solution for Secure Ecommerce Powered by Trintech.Business Editors/High-Tech Writers SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif. and DUBLIN, Ireland--(BUSINESS WIRE)--June 6, 2000 Trintech provides Ireland's leading bank with PayWare eIssuer, a powerful and secure consumer payment tool for Internet transactions Bank of Ireland This article is about the commercial banking company Bank of Ireland. For the central bank of the Republic of Ireland, see Central Bank of Ireland. The Bank of Ireland (Irish: Banc na hÉireann announced today that it has chosen Trintech Group PLC (Nasdaq: TTPA TTPA Tocopherol Transfer Protein, Alpha TTPA Telephone Twisted Pair Adapter ; Neuer Markt: TTP TTP (thymidine triphosphate): see thymine. ), a leading provider of electronic payment infrastructure solutions, to supply it with Europe's first virtual credit card application. Bank of Ireland plans to deploy Trintech's PayWare eIssuer technology to its cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold base for more secure and convenient e-commerce purchasing. The deployment of Trintech's technology is an integral part of Bank of Ireland's recently announced BOIe e-commerce strategy. Bank of Ireland is also the first bank to deploy the virtual credit card technology as part of Trintech's global partnership agreement with MasterCard International. Trintech's PayWare eIssuer solution has been specifically designed to meet the stringent requirements of customers and banks to enhance the security of transactions conducted through electronic channels, such as the Internet. PayWare eIssuer addresses risk management by providing Bank of Ireland with the opportunity to authenticate and authorize the cardholder before the transaction is conducted. This improves risk management for the bank every time consumers use their digital cards. PayWare eIssuer also provides Bank of Ireland with a sophisticated relationship tool that downloads the bank's brand directly to the cardholder's desktop and is reinforced every time the cardholder goes shopping. Bank of Ireland will brand its virtual payment card as Bank of Ireland "Net Guardian", providing both enhanced security and convenience. The Net Guardian solution uses a "drag-and-drop" process to automatically fill a merchant website purchasing form. "After an extensive evaluation process, we concluded that PayWare eIssuer from Trintech brings Bank of Ireland innovative payment solutions for the world of eCommerce that are unrivalled by any other company in the market today," said Billy Saunderson, Head of Card Services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. , Bank of Ireland. "The infrastructure solution provided by Trintech underpins key elements of our BOIe eCommerce program to achieve market leadership in electronic payments and provides our customers with open global standards that are simple and convenient to use when transacting online. Cardholders will now be able to use their cards with the knowledge that their MasterCard/Visa card information is totally secure." "We share Bank of Ireland's vision in bringing both convenience and security to the world of eCommerce," said Cyril McGuire, Chairman of Trintech. "Our technology will provide Bank of Ireland with the secure payment infrastructure to help them achieve their eCommerce goals. Keeping the Internet payment experience both secure and convenient is key to developing confidence and ramping adoption in this emerging business channel." About Bank of Ireland The Bank of Ireland headquarters is in Dublin, Ireland and its operations extend geographically throughout Ireland and in the United Kingdom. At present, the Group has the fifth largest market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of Irish companies This is a list of Irish companies or subsidiaries according to their sector. It deals primarily with companies in the Republic of Ireland, though also lists companies from Northern Ireland which are registered and regulated separately. listed on the Irish Stock Exchange The Irish Stock Exchange (ISE) (Irish: Stocmhalartán na hÉireann) is Ireland's stock exchange, formed through the merger of the Cork and Dublin exchanges, both of which have existed as far back as 1793. . The Group provides a broad range of 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. in Ireland to the personal, commercial, industrial and agricultural sectors. These include checking and deposit services, overdrafts, term loans, mortgages, international asset financing Asset Financing Using balance sheet assets (such as accounts receivable, short-term investments or inventory) to obtain a loan or borrow money - the borrower provides a security interest in the assets to the lender. , leasing, installment credit, debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay , foreign exchange facilities, interest and exchange rate hedging instruments, executor, trustee, stockbroking, life assurance, investment fund management, fund administration and custodial services, and financial advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , including mergers and acquisitions and underwriting. The Bank of Ireland can be reached on the Web at www.bankofireland.ie. About Trintech Trintech Group PLC is a leading provider of secure electronic payment infrastructure solutions for real world, Internet and wireless transactions. The company, which was founded in 1987, offers a complete range of payment software products for credit, debit, commercial and procurement card applications. Trintech's secure product range is deployed in over 35 countries worldwide and cover the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations. Trintech's range of scalable, open systems architecture solutions for UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (R) and Windows NT(TM) platforms covers consumer, merchant and financial institution requirements for all card-based payments, including e-commerce and the emerging world of mobile commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94003 (Tel: 650-227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at http://www.trintech.com. Investor information can be found at www.trintech.com/investor. This press release may contain "forward looking statements" within The meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any "forward looking statements" in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Factors that could cause or contribute to such differences include the ability to develop, market and sell its e-commerce software, the market acceptance of the SSL (Secure Sockets Layer) The leading security protocol on the Internet. Developed by Netscape, SSL is widely used to do two things: to validate the identity of a Web site and to create an encrypted connection for sending credit card and other personal data. or SET standards for e-commerce payment transactions, its ability to effectively respond to future changes in the e-payment software market and, in particular, the market acceptance by card issuers of PayWare eIssuer. Actual performance may also be affected by other factors more fully discussed in Trintech's Form F-1and Form 20-F for the year ended January 31, 2000 filed with the US. Securities and Exchange Commission. |
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