Cyota Selected by Visa U.S.A. as a Vendor for the Visa Payer Authentication Service; Cyota 3D Secure Creates a 'Card Present' Environment Online, Securing Customers and Merchants From Internet Fraud.Business & Technology Editors NEW YORK--(BUSINESS WIRE)--May 29, 2001 Cyota, a leading payment and security technology company, has been named by Visa U.S.A., the world's largest consumer payments system, as one of the vendors supporting the Visa Payer 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. Service, 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. Standard. The Visa Payer Authentication Service, part of Visa's Secure Commerce Program, is designed to reduce the risk of unauthorized use of a cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold account and make Internet shopping better and safer for both buyers and sellers on the Web. Cyota 3DSecure has been developed in conjunction with the Visa Payer Authentication Service to enable card issuers to verify a cardholder's identity through the use of a password and provides results to the merchant in real time during the virtual checkout process. The service will ultimately reduce the merchant's exposure to fraud and frivolous Of minimal importance; legally worthless.A frivolous suit is one without any legal merit. In some cases, such an action might be brought in bad faith for the purpose of harrassing the defendant. disputes. The Visa Payer Authentication Service uses the Cyota 3DSecure technology to give Visa's issuing banks Issuing bank Bank that issues a letter of credit. the ability to authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) a cardholder's identity to the merchant during an online transaction. When a customer enters their Visa card information in an online checkout form and clicks the "buy" button, the issuing bank is alerted and requests the cardholder to confirm their identity by entering a password. Once the issuer authenticates the cardholder, the merchant is notified and the transaction is processed as it is today, with routine order confirmation messages being returned to the cardholder. "We are honored to be working with Visa toward a common goal - the complete security of online transactions," commented Gary Heatherington, 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. . "Security is still a barrier to many consumers shopping online; however, Cyota, along with Visa, is on the cutting edge of reducing fraud and making consumers more comfortable with online shopping." "Cyota has implemented Visa's solution that will enable Member banks to authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. a cardholder to a merchant during an online purchase," commented Jim McCarthy, senior vice president at e-Visa, a division of Visa U.S.A. "Visa is actively working with a number of technology partners to help e-Merchants better secure cardholder information online and ultimately build consumer confidence in the virtual payment environment." Cyota's suite of 3DSecure products consists of the basic protocol, along with several proprietary extensions that leverage Visa's 3D Secure infrastructure to significantly boost cardholder adoption, lower enrollment costs and authorization costs and improve the overall security of the system. They also allow issuers to undertake a single implementation process that will bring cardholders 3D Secure functionality, which is tightly integrated with Cyota SecureClick(TM), the company's groundbreaking 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. These extensions work without requiring changes in existing architecture. About Cyota Cyota (www.cyota.com) is an innovative technology company that is dedicated to helping financial institutions strengthen their customer relationships through reliable, flexible, easy to use online security, payment and transaction products. 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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