Visa U.S.A. Appears on Alexander Haig's World Business Review TV Series; Discusses Smart Card Solutions.

Business & Entertainment Editors/High-Tech Writers

BOCA RATON, Fla.--(BUSINESS WIRE)--March 30, 2001

Multi-Media Productions (USA), Inc. is proud to announce the appearance of Diana Knox, senior vice president, Smart Card Applications and Market Development for Visa U.S.A., and Jim McCarthy, senior vice president of e-Visa for Visa U.S.A., on Alexander Haig's World Business Review. The episode airs April 3, 2001, through April 10, 2001, on U.S. public television stations, including New York, Chicago, San Francisco and Miami. For specific market-by-market air dates and times, please e-mail [e-mail]. Host Alexander Haig, former Secretary of State for President Reagan and former COO and president of United Technologies, discusses "Smart Card Solutions."

Visa, through its smart Visa product platform, is addressing the needs of consumers, merchants and Visa Member financial institutions by delivering a payment mechanism so transactions can be made conveniently and securely, with the same level of convenience with which cardholders are already familiar. "Visa was selected to appear on World Business Review due to its leadership role in creating a state-of-the-art, open platform smart card system," said Clayton Haggit, the show's coordinating producer.

Ms. Knox and Mr. McCarthy appear on World Business Review to discuss how smart Visa helps consumers, merchants and financial institutions that issue smart Visa cards to utilize smart cards for convenient point-of-sale transactions, Internet shopping and more.

smart Visa contains an encryption technology that prevents counterfeiting and unauthorized use. The card issuer can choose from three levels of security depending on the specific instance. If, for example, (the issuer was dealing with) a cardholder accessing an account portal, a simple password would suffice. However, if online trading is involved, a public key may be required to access services. As an additional measure to ensure the privacy of the cardholder's information, the chip has built-in "firewalls," so only those parties who are supposed to have access to the smart Visa card's data can do so.

In addition to improved security, enhanced benefits are a key reason that banks would choose to issue smart cards such as smart Visa. Depending on their capacity, smart cards can hold upwards of 100 times more information than a magnetic strip, and they can record and store data at the time of purchase. All transactions are automatically logged and transmitted to a back-end system with the updated status sent back to, and stored on, the card. This is important for loyalty programs, such as "frequent shopper" reward points, which benefit consumers and merchants. In terms of security and privacy, the participating loyalty program merchant only has access to the information that pertains to its offering, and not to any other data on the smart card.

Additional benefits to smart Visa cardholders include the ability to securely view statements online, consolidate Internet passwords and URL addresses, as well as other time- and money-saving opportunities.

First USA, FleetBoston and Providian Financial are the first Visa Member financial institutions to take advantage of smart Visa payment platform and issue cards.

In developing and expanding smart card technology, Visa U.S.A. has entered into an alliance of technology providers across the several spectrums. The consortium members in the access arena include GemPlus, CELO Communications, Securify, Digital Signature Test, Xcert and Deloitte & Touche. For loyalty programs, Catuity, Logicon, Smart Dynamic and nCipher comprise the team. GemPlus is supplying cards and readers.

Taped in Washington, DC, World Business Review can also be viewed on PBS The Business & Technology Network, TWA, United Airlines, or through video on demand via (Yahoo!) at Broadcast.com, or AENTV.com. WBR, a continuing education series, is being used in a variety of business and technology courses or within the School of Business libraries at Carnegie Mellon University, University of Notre Dame, Dartmouth College, Duke University, DePaul University, Georgetown University, University of Florida, City University of Hong Kong, among other distinguished institutions of higher education.

Videotapes or continuing education systems (via Indiana State University) are available by calling 1-800-WBR-1032 or by visiting www.wbrtv.com.