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Maithean and SPYRUS Announce NetPay SET Payment System for Internet Payments.

SAN FRANCISCO--(BUSINESS WIRE)--Jan. 27, 1997--Maithean Inc. and SPYRUS(R) today announced the availability of the NetPay SET Payment System(TM) with the SPYRUS SET-enhanced EES LYNKS Privacy Card(TM).

The NetPay SET Payment System(TM) is a comprehensive credit card payment solution based on the SET (Secure Electronic Transaction) specification defined by VISA(R) and MasterCard(R). The system includes the NetPay Wallet(TM), an electronic wallet for consumers; the NetPay Merchant(TM), a client-server based credit card payment management system for merchants; and the NetPay Gateway(TM), a client/server-based SET payment system interface for credit card processors and acquirers.

Each application includes a variety of integrated tools for digital receipt, certificate, and transaction management. All components are interoperable with other SET-compliant systems including certificate authorities. The system's open and extensible standards-based platform can support other secure electronic commerce application modules such as electronic draft checking, bill presentment, and banking.

The NetPay application has been integrated with the SPYRUS EES LYNKS Privacy Card using Microsoft CryptoAPI. It is the first SET product to fully integrate cryptographic hardware for processing as well as key and certificate storage.

"The NetPay SET Payment System is a comprehensive solution for SET payment that integrates well with the hardware cryptographic support on the EES LYNKS Privacy Card," said Charles Walton, director for electronic commerce at SPYRUS. "We value our partnership with Maithean and together bring a unique SET payment solution to the credit card brands and member banks."

"The LYNKS EES Privacy Card provides our customers with a proven, cost-effective solution for industry-standard cryptography," said Mark Wolfe, vice president and general manager at Maithean. "LYNKS offers a dedicated cryptographic coprocessor with comprehensive algorithm support and a standard API. It offers highly secure but portable storage of cryptographic keys and certificates."

The SPYRUS EES LYNKS Privacy Card with SET Upgrade implements standard RSA public key cryptography with the SET-defined cryptographic operations to authenticate each party in the payment transaction and encrypt each transaction. Key and certificate storage is provided in a removable hardware token form factor.

SPYRUS has also developed a Cryptographic Service Provider (CSP) for Microsoft CryptoAPI to allow the SET payment application to access the cryptographic functions on the card using a standard interface.

The SET-enhanced EES LYNKS Privacy Card and CSP are integrated with each of the three NetPay components: Wallet, Merchant, and Gateway. Multiple cards can be supported at Merchant and Gateway elements to allow for incremental deployment plans.

"We are pleased that Maithean and SPYRUS are using Microsoft CryptoAPI as part of their SET payment system," said Pradyumna Misra, security product unit manager at Microsoft Corporation. "Hardware-based key and certificate storage provided by the EES LYNKS Privacy Card will ensure an added level of security for credit card payments over the Internet."

"We applaud Maithean and SPYRUS in providing a complete SET payment solution with integrated hardware cryptography," said Richard Yanowitch, vice president of marketing at VeriSign. "With VeriSign certificate services being integrated with the Maithean/SPYRUS SET product suite, customers will have a complete solution offering for electronic commerce."

"By subscribing to GTE's Partner Forum SET Test Certificate Authority service, Maithean/SPYRUS and GTE are working to demonstrate interoperability for SET certificate support," said Tom Carty, vice president of marketing and business development for GTE CyberTrust. "GTE is pleased to see SPYRUS and Maithean providing the first SET solution using hardware to protect the cryptographic keys."

The NetPay SET Payment System is currently being demonstrated at the RSA Data Security Conference and is scheduled for SET pilot deployment in 2Q97. Pricing is available upon request.

About SPYRUS

SPYRUS is a leading provider of high-assurance hardware cryptographic products that are Algorithm Agile(TM) and form factor independent. SPYRUS' products provide encryption, digital signature, access control, and metering solutions for Corporate IS, WWW/Internet and Intranet Applications, Electronic Commerce, and Government applications. The Company's core products are built around its SPEX/(TM) library, a host-based API that supports application integration with a suite of hardware cryptographic products.

SPYRUS cryptographic products are intended for use with security- sensitive applications; protocols such as SET, SSL, and S/MIME; and Microsoft(R) Authenticode(TM) technology. The Company's products are used with a variety of certificate authority products to provide critical infrastructure support for issuance and management of a deployed hardware token community.

Founded in 1992, SPYRUS is headquartered in San Jose, Calif. and has branch offices in Columbia, Md., and Waltham, Mass.

About MAITHEAN

Maithean is a privately held company founded in 1993. It offers highly innovative open standards-based solutions for secure electronic commerce. Maithean provides its software products, technology, and consulting services to financial institutions, service providers, and major hardware and software manufacturers. -0-

Note To Editors: SPYRUS(R) is a registered trademark of SPYRUS. SPEX/(TM), Algorithm Agile(TM), and LYNKS Privacy Card(TM) are trademarks of SPYRUS. NetPay(TM), NetPay Gateway(TM), NetPay Merchant(TM), and NetPay Wallet(TM) are trademarks of Maithean.

All other trademarks are the property of their respective owners.

CONTACT: Maithean

Mark Wolfe, 510/838-0752

Email: wolfe@maithean.com

WWW: http://www.maithean.com

or

SPYRUS

Stu Vaeth, 617/647-7676

Email: ecommerce@spyrus.com

WWW: http://www.spyrus.com
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Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Jan 27, 1997
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