Cyota Delivers Verified by Visa to Japan's UFJ Card; One of Japan's Leading Financial Groups Selects Cyota SecureSuite For Its 7 Million Cardholders.Business Editors NEW YORK--(BUSINESS WIRE)--March 13, 2003 Cyota, a leading payment security company, has been selected by UFJ UFJ United Financial of Japan (bank) UFJ Upper Flex Joint Card, one of Japan's largest card issuers with a 7 million card base, to provide the 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). Internet payment security technology for its Visa card members. UFJ Card's Verified by Visa program, is one of the first large scale commercial implementations of Visa's new program in Japan. Cyota SecureVbV is a Verified by Visa - compliant solution that reduces fraud by authenticating cardholders and producing online purchase receipts for their approval. UFJ Card is the card division of UFJ Bank, created through the merger of Sanwa bank and Tokai bank. UFJ Bank is considered one of Japan's "Big Four" banks, and as one of the world's largest financial institutions, with over $700 billion in assets in 2001. "We are honored to provide UFJ Bank with our hosted Verified by Visa service," said Naftali Bennett, Cyota 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. , "We have designed our suite of products to meet the specific needs of the Japanese market. Intelligent Wave Inc, our strategic partner in Japan, plays a key role in our success to bring Cyota's vast experience in providing services to major US and European issuers, into the Japanese market". UFJ's service is provided through Intelligent Wave Inc. (IWI iwi Noun NZ a Maori tribe [Maori] ), Cyota's partner in Japan. Triangle Technologies Ltd., which has helped form numerous strategic alliances in Japan for its clients, assisted in signing the distribution agreement between Cyota and Intelligent Wave Inc. SecureSuite has already been implemented by seven of the world's largest issuers, and is available as a hosted or non-hosted solution. SecureSuite is the first integrated online payment security platform of its kind, designed to seamlessly combine a wide range of 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. and credit card security products including Verified by Visa, MasterCard SecureCode and Cyota's surrogate surrogate n. 1) a person acting on behalf of another or a substitute, including a woman who gives birth to a baby of a mother who is unable to carry the child. 2) a judge in some states (notably New York) responsible only for probates, estates, and adoptions. number solution SecureClick, into a single user experience. SecureSuite allows banks, with a single installation, to offer consumers a unified front end that supports association standards, payment security and transaction products. This risk-free approach helps issuers start a payment initiative without any integration efforts or IT investment in equipment. About Cyota Cyota is a leading payment security provider for financial institutions. Cyota SecureSuite is the only integrated payment security platform designed to seamlessly integrate a wide range of credit and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. security solutions including MasterCard SecureCode, Verified by Visa, surrogate numbers and more, into a single, consistent and cost-effective solution. Cyota services multiple clients in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia-Pacific with systems currently available to over 300 million cardholders. Founded in 1999, Cyota is headquartered in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of with offices worldwide. Cyota is led by a respected management team with extensive experience in the security, Internet and banking industry. For more information please visit www.cyota.com |
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