GTE Enables Secure Internet Transactions for MasterCard and Visa; Visa Approves CyberTrust to Issue SET Digital Certificates.NEEDHAM HEIGHTS, Mass.--(BUSINESS WIRE)--June 24, 1998--GTE Internetworking's CyberTrust Solutions today announced it has received approved vendor status by Visa International to provide certificate processing services to Visa members via Visa's Secure Electronic Commerce initiative. CyberTrust Secure Payment Services, the exclusive provider of MasterCard-branded SET digital certificates, now offers financial institutions the ability to work with a single source provider to manage their certification authority See CA. operations for MasterCard and Visa. CyberTrust Secure Payment Services performs the certificate management functions that enable secure electronic transactions Secure Electronic Transaction (SET) is a standard protocol for securing credit card transactions over insecure networks, specifically, the Internet. SET is not itself a payment system, but rather a set of security protocols and formats that enables users to employ the existing . CyberTrust Solution's experience and industry expertise provides certification authority hosting services in accordance with the SET 1.0 specification. SET is an open industry protocol for the secure transmission of payment information over the Internet, jointly developed by MasterCard and Visa with assistance from GTE GTE General Telephone & Electronics GTE Génie Thermique et Énergie (French) GTE Gas Turbine Engine GTE Global Tropospheric Experiment GTE Geothermal Energy GTE Gas Turbine Efficiency plc (Sweden & USA) and other leading technology vendors. "Ensuring the integrity and confidentiality of a customer's identity is the backbone to any successful financial transaction," said Steve Herz, senior vice president, Visa International. "GTE Internetworking's CyberTrust Solutions has met our well defined certification authority requirements. Their Visa certificate management capability provides our Member banks with choices in setting up their certificate management capabilities for their SET programs." CyberTrust Secure Payment Services are available from GTE Internetworking for a standard monthly fee that includes set up and operation of the SET service, a bundled number of certificates, a range of authorization capabilities, consulting and training. In addition, GTE Internetworking offers SET-configured certification authority products that leverage CyberTrust Solutions expertise. GTE Internetworking provides the financial marketplace with the most flexible and scalable options in SET implementation by offering SET certificate management services and products for both MasterCard and Visa. "CyberTrust Secure Payment Services enables financial institutions worldwide to provide secure and convenient Internet purchasing capabilities to their customers," said Peter Hussey, president of GTE CyberTrust Solutions Inc. "With the addition of Visa certificate processing capabilities, CyberTrust Solutions continues to prove its commitment to providing the highest level of service to the financial marketplace." "GTE is an important partner in driving the development of interoperability of SET. GTE offers a customized certification authority service to our member banks," said Alan Glass, senior vice president, electronic commerce, Mastercard International. "Secure Payment Services affords customers and merchants flexibility and convenience when conducting secure electronic transactions." The CyberTrust Certification Authority Hosting Service has provided interoperable SET services for MasterCard globally on behalf of financial institutions including, ChinaTrust Commercial Bank, Citibank Taiwan, CUETS CUETS Credit Union Electronic Transaction Services , Mellon Bank Corporation and Network for Electronic Transfers Pte Ltd PTE LTD Private Limited . (NETS). American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. and CyberTrust have also teamed to offer online purchasing for Wal-Mart. CyberTrust Japan Inc., an affiliate of GTE Internetworking, provides SET Services for JCB JCB Noun trademark, Brit a large machine used in building, that has a shovel on the front and a digger arm on the back [initials of Joseph Cyril Bamford, its manufacturer] JCB® n abbr and Sumitomo Visa. About GTE Internetworking GTE Internetworking is a business unit of GTE Corporation (NYSE NYSE See: New York Stock Exchange :GTE). GTE Internetworking combines the security strengths, Internet knowledge and technological experience of BBN (BBN Technologies, Cambridge, MA, www.bbn.com) A consulting firm that participated in the development of some of the most extensive networks in the world, including ARPANET, which evolved into the Internet. It was founded in 1948 as a consulting service in acoustics by Dr. Corporation, Genuity Inc. and GTE CyberTrust Solutions into one Internetworking leader. Its CyberTrust Solutions Security Family provides flexible certification authority (CA) products and services and certificate management services. Its wide range of network-based applications are used worldwide within financial institutions, corporate enterprises and government agencies. More information about GTE Internetworking's CyberTrust products and services can be found on the Internet at http://www.internetworking.gte.com. About GTE With 1997 revenues of more than $23 billion, GTE is one of the world's largest telecommunications companies and a leading provider of integrated telecommunications services. In the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , GTE provides local service in 28 states and wireless service in 17 states; nationwide long-distance and internetworking services ranging from dial-up Internet access See dial-up. for residential and small-business consumers to Web-based applications for Fortune 500 companies; as well as video service in selected markets. Outside the United States, the company serves more than 7 million telecommunications customers. GTE is also a leader in government and defense communications systems Department of Defense long-haul voice, data, and record traffic system which includes the Defense Data Network, Defense Satellite Communications System, and Defense Switched Network. Also called DCS. See also Defense Data Network; Defense Switched Network. and equipment, directories and telecommunications-based information services See Information Systems. , and aircraft-passenger telecommunications. Additional information about GTE can be found on the Internet at http://www.GTE.com. CONTACT: GTE Internetworking Vaughn Harring, 617/873-4659 vharring@bbnplanet.com or Marenghi & Associates for GTE Andrea Dumont, 781/239-0057 adumont@marenghi.com |
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