More Than 60 Top Internet Solutions Providers Join Visa to Ensure Safe, Secure Online Shopping Experience for Consumers, e-Merchants
SAN FRANCISCO, 6/27/2001
Continuing its leadership role in Internet payments, Visa International today announced that more than 60 of the world’s top Internet solutions providers – companies focused on payment software, security, fraud detection, and customer management – have been working together with Visa for over one year to speed the global deployment of Visa Authenticated Payment, a comprehensive e-commerce program designed to ensure safe and secure online payment transactions.
Visa Authenticated Payment, which builds upon the company’s Global Secure E-Commerce initiative launched in June 2000, will enhance the security of Internet-based payments on a global scale and vastly improve the payment service for merchants, consumers and Visa Members. Implementation of the program is already underway in many countries within each Visa region, including Asia Pacific, Canada, CEMEA (Central Europe, Middle East, Africa), the European Union, Latin America and Caribbean, and the United States.
Visa has been working with a number of vendors for more than a year to develop and test Visa Authenticated Payment. More recently, Visa has established partnerships with a number of global firms to promote and support adoption by bank Issuers and merchants. These include Accenture, Cap Gemini Ernst & Young, IBM, Microsoft, and Sun Microsystems. Together, the vendor partners (a partial list of partners participating in this program is attached) will provide the necessary products and services to support a fast uptake in the market.
“Having worked closely with Visa for many years, we are pleased to support this global payments leader and its member banks as they increase their ability to provide secure Internet transactions and market new u-commerce capabilities,” said Richard Cornelius, an Accenture partner.
“We welcome the Visa Authenticated Payment Program which supports highly flexible yet scalable secure e-payments and have developed a portfolio of services to ensure that banks can rapidly implement to meet the specific needs of their business,” said Michael Gordon, global head of transaction banking for Cap Gemini Ernst & Young.
“Visa International`s global initiative to authenticate Visa card purchases on the Internet demonstrates its commitment to preserve the online free marketplace, and Sun Microsystems stands ready to help execute the Visa Authenticated Payment Program with our proven, reliable, scalable and secure technology,” said David Littlewood, director, Sun Microsystems world wide financial services global sales operation. “On the Internet, even more than in other areas of our lives, trust is the real currency.”
Visa Authenticated Payment supports 3-D Secure as a new authentication technology in addition to 3-D SET. Visa has worked closely with the vendors in the program to gather important feedback in developing this authentication solution that’s both easy to implement and quick to market. The resulting 3-D Secure 1.0 specification has been released and is currently being deployed in the marketplace.
“Our Members and merchants have given us very positive feedback on the Visa Authenticated Payment program and we anticipate a significant demand for products and services to support their implementation plans,” said Philip Yen, executive vice-president of e-Visa International. “We’re pleased that key vendor partners will be in a position to meet the demand, giving our Members quality and choice. Together, we can help to ensure a safe and secure shopping experience for consumers and merchants by adding extra security protections and preventing fraud.” Consumers, e-Merchants Benefit from Visa Authenticated Payment
With Visa Authenticated Payment, Visa is providing the same level of security in the virtual world as Visa has in the physical world. The global program is integral to Visa’s continuing efforts to realize universal commerce (u-commerce), the ability to conduct commerce securely and conveniently, anywhere, anytime, and over any kind of device.
Consumers will have greater confidence knowing that Visa, their financial institutions and merchants are incorporating a variety of measures to protect their transactions when they shop online. When a cardholder enrolls in Visa Authenticated Payment, the cardholder and their financial institution validate the online transaction, just as they do at the check-out stand in the physical world when they sign the sales receipt.
Visa Authenticated Payment is just one example of Visa’s continuing efforts to develop, enhance and advance payments around the world through the development of standards. Other examples include: Open Platform; Common Electronic Purse Specification (CEPS); the EMV (Europay, MasterCard, Visa) standard for chip, credit and debit cards; and the new Visa Global Invoice Specification based on XML.
About Visa
Visa is the world’s leading payments brand and the largest payments system worldwide. Visa-branded cards generate almost US$2 trillion in annual volume and are accepted at over 22 million locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce - the ability to conduct commerce anytime, anywhere, over any type of device.
VISA Authenticated Payment - Vendor Participation List
Accenture
Media Joe Krakoviak Media & Analyst Relations, Banking & Capital Markets Phone: 917-452-2406 joe.krakoviak@accenture.com Sales and Marketing Matthew Helber Financial Services, Solution Engineering Phone: 415-796-2614 matthew.d..helber@accenture.com
ACI Worldwide
Media Gene Hinkle Phone: 402-390-8906 hinkleg@aciworldwide.com Sales and Marketing Jeff Beulke Phone: 402-390-8038
Aether Systems
Media/Sales and Marketing Paula Chase-Hyman PR Manager Phone: 443-394-5483 Cell: 410-493-5741 pdchase-hyman@aethersystems.com
Aplettix
Media Contact Guy Netef Phone: 212-803-8181 guy_netef@aplettix.com Sales and Marketing Roy Bricker VP of Product Management Phone: 212-803-8181 roy_bricker@aplettix.com
Arcot Systems, Inc.
Media Contact: Doug Free VP Corporate Marketing Phone: 408-969-6243 dfree@arcot.com Sales and Marketing Visa USA, Visa Canada and Visa Latin America Bill Moore, VP South Carolina, USA Phone: 843-559-5514 bmoore@arcot.com
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