Paradata Completes VISA Security Audit Program.

Business Editors & Technology Writers

WHISTLER, British Columbia--(BUSINESS WIRE)--Nov. 28, 2001

Demonstrating its commitment to secure transaction processing, Paradata Systems Inc. has received a Report on Compliance signalling that it is fully compliant with the standards set out by Visa Canada in its Account Information Security Program (AIS Program).

The AIS Program was designed and implemented by Visa to assess the security of cardholder data and the risk of internal and external security compromises within the payments environment.

"The security of Paradata's production system and databases is considered mission critical," said Ralph Lutes, Vice President Responsible for Risk Management. "We strive to meet best practices in this area for our clients and we are pleased to have independent verification of our efforts through Visa's AIS Program."

Through the AIS Program fifteen different security requirements must be confirmed including access to data, firewall integrity, encryption of stored data and physical security. The program consists of two components; a self-assessment of the merchant or service provider's compliance with Visa's best practice standards and, secondly, confirmation of the self-assessment by a Visa-approved independent third party security assessor.

The third party security assessment and Report on Compliance was conducted by PricewaterhouseCoopers LLP, based on fieldwork done at Paradata's production centre facilities in Vancouver. According to Visa Canada, Paradata was the first service provider in Canada to complete Visa's AIS Program.

"The AIS program helps service providers like Paradata provide enhanced protection of cardholder account and transaction data," said Kevin Wasslen, Director, Risk and Security, Visa Canada. "The program is designed to support the growth of e-commerce by enhancing the safety and security of the e-commerce payment channel, which, in turn will help bolster consumer confidence."

About Paradata

Paradata Systems Inc., founded in 1993, provides industry leading Global Integrated Payment Systems and services. The company has applied its expertise in software development, security technology, and transaction processing to fill a niche in global commerce. Paradata's full service offering to financial organizations and their merchants includes web-based tools that simplify enablement and end-to-end, 24.7 technical support. The technology offering supports both SSL and SET security protocols, and is based on partnerships with the biggest players in payment technology: IBM and ClearCommerce.

To learn more about Paradata, go to www.paradata.com, 800/604-DATA (3282) or contact Caroline Grimont, Vice President of Business Development and Marketing at [e-mail].