Trintech and Trust5/Buytel Partner to Deliver a Powerful New Security Solution for Mobile Commerce.Business Editors SAN MATEO San Mateo (săn mətā`ō), city (1990 pop. 85,486), San Mateo co., W Calif., on San Francisco Bay; inc. 1894. It is a commercial and retail center with some high-technology manufacturing. San Mateo, Spanish for St. , Calif.--(BUSINESS WIRE)--Sept. 26, 2000 Trintech and Trust5/Buytel Partner to Provide a Voice Verification Based Secure Payment Solution for Mobile Commerce Trintech Group (Nasdaq:TTPA TTPA Tocopherol Transfer Protein, Alpha TTPA Telephone Twisted Pair Adapter )(Neuer Markt:TTP TTP (thymidine triphosphate): see thymine. ), a leading provider of secure electronic payment infrastructure solutions and Trust5 who has developed a layered security Layered security is a new term used by information protection and online security vendors that describes the practice of leveraging several different point security solutions to protect the digital identities and information of consumer, enterprise or government environments. mechanism incorporating Buytel's Voicevault(TM) voice verification technology, announced today an agreement to jointly develop and deploy a full security mobile commerce payment solution. The new payment solution verifies and authenticates customers over the Internet or cell phone by their voice using advanced biometrics technology. It is configured as multiple, completely independent, interconnected mirrored systems, located in different physical locations for maximum operational integrity. This means that no matter where you are located around the world, the transaction can be completed in less than half a second. "The recently announced Trintech partnership with Trust5/Buytel to develop a secure and trustworthy mobile payment system could eventually allow mCommerce to meet its potential," said Charles Kolodgy, research manager, 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. at IDC. "Whenever money is changing hands, be it in the traditional manner, via electronic commerce or using the emerging mobile commerce method, customers and merchants want to trust that the transaction is secure and authentic. However the parties to the transaction want any security to be transparent and un-intrusive. All of these factors are absolutely fundamental for the new forms of commerce to flourish." By incorporating a layered security mechanism that includes voice 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. into PayWare(R) mAccess(TM), Trintech extends its mCommerce application suite by providing a simple, convenient and secure payment method that greatly reduces payment risk and fraud, going one step further to underwrite To insure; to sell an issue of stocks and bonds or to guarantee the purchase of unsold stocks and bonds after a public issue. The word underwrite has two meanings. the mCommerce transaction. This will allow telecommunications operators, wireless portals A Web site that supports a user with a smartphone or alphanumeric pager. It may offer a variety of features, including providing a springboard to other (WAP based) wireless sites, the ability to select content to be pushed to the user's device as well as providing a point of entry for and financial institutions to offer a convenient shopping experience to the consumer while providing a secure payment service to retail partners selling through the wireless web. "Trintech's mobile commerce solution provides customers with the most advanced and secure payment technology available, so partnering with Trust5 and Buytel is a logical fit for us," said Trevor Healy, vice president of Strategic Alliances for Trintech. "mCommerce customers seek convenience but need to be assured of a high level of security. By integrating biometrics technology using Trust 5's layered security with PayWare mAccess, these customers are now allowed the convenience of using a secure virtual card with a simple voice response for authentication, saving time and providing them with an extremely secure payment solution." Trust5 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. Paul O'Grady For the Australian soccer player, see . Paul James O'Grady (born 14 June 1955) is an English comedian and television personality. He is the creator of comic drag character Lily Savage (the "Birkenhead Bombshell"), a vampish Birkenhead woman. added, "The combined solution being provided by Trintech, Buytel and ourselves is highly cost effective for financial institutions, telecommunication operators, merchants and customers alike, reducing risk yet facilitating secure payments." "Our voice verification technology is already developed for use by major banks across the globe for secure banking purposes," said Pat Keaney, CEO of Buytel. "This alliance with Trintech will help to extend both companies' technologies and provide an added level of security for use in B2C (Business to Consumer) Refers to a business communicating with or selling to an individual rather than a company. See B2B. and B2B (Business to Business) Refers to one business communicating with or selling to another. See B2B e-commerce, B2C and B2G. B2B - business to business payments within the mCommerce arena." About PayWare mAccess PayWare mAccess is a modular, server-based mCommerce payment solution that enables card issuing banks Issuing bank Bank that issues a letter of credit. , portals/ASPs, content converters and wireless network operators to securely process card payment transactions from a variety of wireless devices, including cell phones, PDAs and set-top boxes The cable TV box that sits on "top" of the TV "set," although it is often located several feet away in an equipment rack. The set-top box descrambles the premium channels and provides a tuner for the higher cable numbers that very old TVs did not support. . When deployed in conjunction with a server-based consumer payment technology, such as Trintech's PayWare eIssuer, wireless users benefit greatly from enhanced security and "one touch" form fill of mobile commerce merchant payment pages. In 'card not present' transactions such as eCommerce or mCommerce transactions, the ability to fully 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. the cardholder card·hold·er n. One who holds a card, especially a credit card. card  hold is key to reducing levels of card fraud, with the merchant and financial institution assured that the cardholder is who they say they are. Full authentication is achieved with three elements of authentication -- something you have, something you know and something you are. The PayWare mAccess solution now provides these authentication elements -- the card number, the Personal Identification Number (PIN) and voice verification (something you are). This leading edge technology solution will provide telcos, wireless operators and financial institutions with a mobile payment solution that addresses fraud while providing a simple and convenient payment solution for consumers. About Trust5 Trust5 (www.trust5.com) a subsidiary of Buytel has developed a unique 'layered security mechanism' that verifies and authenticates customers executing payments in the virtual world of internet and mobile commerce. Trust5 will deliver 100% guaranteed authentication and eliminate fraud for all Trust5 certified transactions. This solution will help consumers to overcome their fear of purchasing goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. through virtual channels. Trust5's layered security mechanism sets Trust5 apart from other current solutions. By enhancing `Something You Have' (Credit Card) and `Something You Know' (Password, PIN or Digital Certificate) with `Something You Are' (Voice), Trust5 resolves the problem of verifying that the individual executing a transaction is the individual authorized to do so. Trust5's technology guarantees that `you are who you say you are, wherever you are.' It is the only true and independent way to guarantee security as it verifies the individual rather than the password, PIN or device. About Buytel Buytel Limited's (www.buytel.com) Voicevault(TM) is a world leading technology platform which performs a voice verification in less than 0.5 of a second regardless of where in the world a person is located or whether the routing configuration is telephone or internet based. The Voicevault(TM) system records and verifies voice patterns using Buytel's advanced patented technology and a key benefit of the system is that the user does not require any hardware or software except for a telephone. About Trintech Trintech Group PLC is a leading provider of secure electronic payment infrastructure solutions for real world, Internet and wireless transactions. The company, which was founded in 1987, offers a complete range of payment software products for credit, debit, commercial and procurement card applications. Trintech's secure product range is deployed in over 35 countries worldwide and cover the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations. Trintech's range of scalable, open systems architecture solutions for UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). (R) and Windows NT (Windows New Technology) A 32-bit operating system from Microsoft for Intel x86 CPUs. NT is the core technology in Windows 2000 and Windows XP (see Windows). Available in separate client and server versions, it includes built-in networking and preemptive multitasking. (TM) platforms covers consumer, merchant and financial institution requirements for all card-based payments, including e-commerce and the emerging world of mobile commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive, San Mateo, CA 94403 (Tel: 650/227-7000) and in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: 353-1-207-4000). Trintech can be reached on the Web at http://www.trintech.com. Investor information can be found at www.trintech.com/investor. This press release may contain "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any "forward looking statements" in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Factors that could cause or contribute to such differences include the ability to develop, market and sell its eCommerce software, the market acceptance of the SSL (Secure Sockets Layer) The leading security protocol on the Internet. Developed by Netscape, SSL is widely used to do two things: to validate the identity of a Web site and to create an encrypted connection for sending credit card and other personal data. or SET(TM) standards for eCommerce payment transactions, its ability to effectively respond to future changes in the ePayment software market and the continued market demand for its electronic point-of-sale systems. Actual performance may also be affected by other factors more fully discussed in Trintech's Form 20-F and Form 6-K for the quarter ended July 31, 2000 filed with the US. Securities and Exchange Commission. |
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