Cyota to Enhance Lloyds TSB Online Payment Security.Business Editors LONDON--(BUSINESS WIRE)--May 19, 2004 Following a successful 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). pilot, Cyota and Lloyds TSB Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. expand the service to include MasterCard(R) SecureCode(TM), and roll-out the service to Lloyds TSB's entire card base Lloyds TSB, the 3rd largest credit card issuer and largest 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. issuer in the UK, announced today that following a successful six-month Verified by Visa pilot, it has selected Cyota to add MasterCard SecureCode to the service and roll it out in a phased basis to Lloyds TSB's 15 million credit, debit and chargecard holders. The service is managed from Cyota's local facility in London. MasterCard SecureCode and Verified by Visa are designed to provide Internet shoppers with a virtual receipt to sign at the point of purchase, thus reducing online fraud. "Lloyds TSB is the largest bank to fully adopt the service in the UK to date and we are proud to be working with them", 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. . "The number of MasterCard SecureCode and Verified by Visa participants steadily increases every day, it's exciting to see these initiatives gaining great momentum throughout Europe and primarily in the UK." "Based on our pilot results and analysis as well as the traction that Verified by Visa and MasterCard SecureCode have gained in the UK over the past few months, we have decided to provide all of our cardholders with the opportunity to use this extra security while shopping online," commented David Cooper David Cooper may be:
The initiatives - MasterCard SecureCode and Verified by Visa - facilitate cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold authentication for online transactions, which helps to reduce online fraud, and at the same time increase cardholder confidence. The initiatives have been adopted by nearly all of the top global issuers. Cyota currently powers systems for 3 of the top UK issuers, 7 of the top 10 issuers in the US, and 4 of the top 10 issuers in Japan, as well as multiple small to mid-size issuers, supporting over 350 million cardholders worldwide. Notes to editors Lloyds TSB is the 3rd largest UK credit card issuer by card numbers (Datamonitor 2003) About Cyota Cyota is the leading provider of security and anti-fraud solutions for financial institutions. 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 anti-fraud and security systems currently available to over 350 million accountholders. 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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