Arcot Systems, Inc.
Solution protects card issuers, consumers, and merchants from online fraud
SANTA CLARA, Calif. and BLUE BELL, Pa., March 4, 2002 -- Unisys Corporation (NYSE: UIS) and Arcot Systems, Inc. today announced an alliance to offer a complete, turnkey solution to Visa`s member financial institutions and card processors implementing Visa`s Internet payment authentication process, Verified by Visa. The new password protection is designed to give consumers greater control over when and where their card is used, further reducing the potential for unauthorized card use on the Internet. Under the terms of the global agreement, Unisys will sell the service globally, distribute the Arcot TransFort product to end users, then configure, deploy, support and service the total solution worldwide, letting card issuers quickly and efficiently offer their cardholders this valuable service.
Verified by Visa allows consumers to actively protect their Visa accounts from unauthorized use by selecting a personalized password for Web purchases. Each time cardholders make purchases at participating online stores, they are automatically presented with a Verified by Visa window where they enter their password and authenticate themselves to the Issuer. Verified by Visa significantly minimizes fraud and customer disputes because only the cardholder and their card Issuer know the password. The solution features Arcot`s TransFort payer authentication product implemented by Unisys on the customer`s platform of choice, backed by Unisys world-class services and resources.
"By combining Arcot`s leading payer authentication software with our world class team and resources, we can deliver with confidence and speed a powerful, reliable Verified by Visa solution to banks and card processors worldwide," said John Joly, director, Global Card Program, Unisys. "This program will be crucial to our card-issuing customers. They have an immediate need for a fast and reliable implementation of this service."
"Verified by Visa is key to increasing customer confidence in the online shopping experience and reducing the incidence of fraud," said Chet Silvestri, president and CEO of Arcot Systems. "That is why our TransFort product must work seamlessly 24 by 7 especially during peak shopping periods. Our proven TransFort software, supported by a solid Unisys team, will assure banks and processors they can deliver the highest level of service to their cardholders."
Arcot TransFort is the first solution to be named compliant by the Visa Compliance Testing Facility for the Visa Authenticated Payment Program, and has been field-tested and deployed by banks and merchants worldwide for over 15 months. Verified by Visa is designed to bring the same level of security to the virtual world as Visa has in the physical world by confirming to the e-merchant that the online buyer is the actual cardholder.
Arcot Systems, Inc., is the leading provider of authentication and access control solutions for securing e-business in Internet-scale, transactional and wireless environments. Only Arcot provides cost-effective, scalable, software solutions based on the ArcotID Software Smart Card for strongly authenticating users and transactions for payment systems, Web-based email, Web portals and virtual private networks. Arcot solutions meet the business need for strong transactional security while providing the customer a user-friendly experience with anytime, anywhere convenience. Leaders in financial services, healthcare, and e-commerce are using Arcot solutions to protect their customers` privacy and reduce fraud. For more information, visit www.arcot.com.
Unisys is a worldwide information technology services and solutions company whose 39,000 people help clients in more than 100 countries utilize technology to seize opportunities, overcome challenges and succeed in the global economy. The company offers a rich portfolio of business solutions led by its expertise in consulting and systems integration, outsourcing, network services and security, coupled with leading enterprise-class server and related technologies. Primary vertical markets for Unisys worldwide are the financial services, transportation, communications, media, commercial and public sectors, including U.S. federal government customers. For more information on the company, access the Unisys home page on the World Wide Web at www.unisys.com. Investor information can be found at www.unisys.com/investor.
RELEASE NO.: 0302/8116
Unisys is a registered trademark of Unisys Corporation. Arcot TransFort and ArcotID are registered trademarks of Arcot Systems. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.