EFTA Council Explores E-Commerce Authentication/Investment Issues; Meeting Scheduled for March 14 in Charlotte, NC.Business Editors/Hi-Tech & Government Writers HERNDON, Va.--(BUSINESS WIRE)--Feb. 28, 2002 Don MacLeod, executive vice president at Wachovia Corporation, and Chuck Wade, Internet security ''This article or section is being rewritten at Internet security is the process of protecting data and privacy of devices connected to internet from information robbery, hacking, malware infection and unwanted software. expert, have been tapped by the Electronic Funds Transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. Association (EFTA EFTA: see European Free Trade Association. ) to deliver keynote addresses to the group's Electronic Commerce Payments Council on March 14, 2002 in Charlotte, NC. The Electronic Commerce Payments Council (eCPC) is a multidisciplinary working group dedicated to exploring emerging e-commerce payment models and issues. Approximately 40 organizations comprise the Council's membership. The March 14 session is the Council's first quarterly meeting of the year. Mr. MacLeod, also managing partner of the Wachovia Strategic Ventures Group, will speak on "Surviving the New Economy." Wachovia Strategic Ventures (www.firstunion.com/strategicventures) has a total portfolio of greater than $150 million and makes strategic equity investments that support Wachovia Corporation's technology initiates. Mr. MacLeod is a director of Arcot, Spectrum EBP EBP Evidence Based Practice EBP Enterprise Buyer Professional EBP Education Business Partnership EBP European Business Programme EBP Efficiency Bandwidth Product EBP Electronic Billing and Payment EBP Extended Base Pointer EBP Error Back Propagation , ProAct and TeamStaff. An industry thought leader on authentication issues, Mr. Wade's address is titled "Authentication Issues for Internet Payments: Whose problem are we solving?" He will examine Internet authentication in a broad context and address whether current industry efforts to fill the authentication void are meeting the real needs of consumers and retailers. Representing one of the industry's most talked about single sign-on An identification system that lets users log into multiple Web sites on the Internet with one username and password. Single sign-on systems are also used within an enterprise, enabling users to access all authorized resources in the local network using the same username and password. authentication solutions, Ken Oestreich, senior business alliances manager at Sun Microsystems, Inc., will lead a session, "The Liberty Alliance and Network Identity." The Liberty Alliance, which advocates competition and consumer choice, is a multi-industry consortium organized to provide a universal, single sign-on password for consumers with decentralized de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. authentication and open authorization. Its varied and fast growing membership includes AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , American Express, Visa, MasterCard, United Airlines, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. and GM. Michael Keresman, president and 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. at Cardinal Commerce, and Steve Ryan, vice president of corporate development at Arcot, will address the real-world issues of how industry-proposed and newly implemented authentication systems work for consumers, issuers, merchants, acquirers and infrastructure providers. Both companies are leaders in the implementation of authentication models, and their representatives will share their practical experience and outlook for the future. Presenting an alternative Internet payment model will be Harold Williams, senior vice president of payment systems, at BB&T, who will discuss, "Project Action: Enabling ACH credits for Internet payments." Project Action is a NACHA-sponsored program, still in the pilot phase, to develop an Internet payment product that combines financial institution authentication of consumers with guaranteed ACH credit payments. Mr. Williams serves as the Project Action's vice-chairman. Council participation is limited to EFTA members, but the Association welcomes industry representatives as guests at the upcoming meeting. For more information on the March 14 meeting, contact eftassoc@efta.org. eCPC Co-chairs are Steve Klebe, vice president for strategic alliances, payment and risk, at CyberSource Corporation; Don Moehrke, principal, Moehrke & Healey, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ; Rene Pelegero, director of global operations, Amazon.com, and Paul Tomasofsky, vice president for strategic business development, NYCE See New York Cotton Exchange. NYCE See New York Cotton Exchange (NYCE). Corporation. About the Electronic Funds Transfer Association The Electronic Funds Transfer Association is a trade organization dedicated to the advancement of electronic payment systems and commerce. Approaching a quarter-century of service, the Association represents its members on a variety of issues of interest to the electronic payments industry, including privacy, security, electronic commerce, and compliance with federal regulations. It can be reached at its web site, www.efta.org. http://www.efta.org |
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