Cyota Pioneers Verified By Visa Initiative In Europe; Leumi Card Will Offer Cyota's Verified By Visa Service.Business Editors NEW YORK--(BUSINESS WIRE)--March 13, 2002 Leumi Card, one of the fastest growing Visa issuers in Europe, has selected Cyota for providing SecureVbV(TM) - a 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). service. The commercial launch, scheduled for next quarter, will position Leumi Card customers among the first in Europe to use the new Verified by Visa initiative promoted by Visa EU. Cyota SecureVbV is implemented by some of the world's largest Visa 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. issuers. SecureVbV is provided as a hosted service in the US and Europe, offering a risk-free approach that helps issuers launch Verified by Visa without any integration efforts or IT investment. Alternatively SecureVbV is offered as an in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. solution for large card issuers and processors. Leumi Card, one of Israel's leading credit card companies, has achieved phenomenal growth by capturing almost 50% of the nation's Visa card volume within its first year of operation. "We are proud to be among the world's first financial institutes to adopt Visa's new payment security standard," said Arie Heliweil, Leumi Card 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 performed a thorough screening process, at the end of which we selected the one company that offered the most advanced and user-friendly service available. Cyota is a world leader in online payment security solutions, and with its security platform we can provide a wide range of security products to our customers." "After paving the way in the US Verified by Visa market, we are excited to engage in one of the first Verified by Visa implementations in Europe," said Naftali Bennett, Cyota CEO, "We are very glad to add Leumi Card to our list of clients." SecureVbV has been developed in conjunction with Verified by Visa to enable card issuers to verify (1) To prove the correctness of data. (2) In data entry operations, to compare the keystrokes of a second operator with the data entered by the first operator to ensure that the data were typed in accurately. See validate. a cardholder's identity through the use of a password and provide results to the merchant in real time during the virtual checkout process. SecureVbV is part of Cyota SecureSuite(TM), a modular online payment security platform designed to support, in a single core implementation, 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 card security products including Verified by Visa, MasterCard SPA 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. SecureSuite allows card issuers to implement current and emerging security initiatives in any order and at their own pace, while maintaining a single user experience even as new protocols are introduced. About Cyota (www.cyota.com) Cyota (www.cyota.com) is a leading payment security company that is dedicated to helping financial institutions strengthen their customer relationships through reliable, flexible, easy to use online security, payment and transaction products. Cyota SecureSuite(TM) is a revolutionary platform designed to serve as the backbone for integrating numerous e-payment initiatives. 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. and worldwide. Founded in 1999 by leading card and security industry experts, 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 and is supported by an international Advisory Board comprised of world-renowned financial and security experts. |
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