Authorize.Net Announces Support for Verified by Visa and MasterCard SecureCode
• Authorize.Net Partners with CardinalCommerce to Integrate Payment Authentication Software into Its Payment Gateway
BELLEVUE, Wash.--Dec. 4, 2003-- Authorize.Net, an industry-leading provider of secure, reliable IP-based payment solutions, today announced the availability of cardholder authentication programs including Verified by Visa and MasterCard(R)
SecureCode(TM). To offer the cardholder authentication programs, Authorize.Net has partnered with CardinalCommerce, a leading provider of online merchant payment authentication for securing online transactions.
Verified by Visa and MasterCard SecureCode allow enrolled cardholders to set up a unique password, similar to a personal identification number used at an ATM, which is submitted during the checkout process. Merchants that adopt the cardholder authentication programs provide increased transaction security for their customers, while reducing online fraud. In addition, merchants receive chargeback liability protection from Visa and MasterCard, which may result in cost savings.
"The online payments industry is continually developing new programs and technologies to protect the integrity of cardholder information used for online purchases," said Prakash Kondepudi, Authorize.Net executive vice-president. "Authorize.Net is pleased to provide these tools as part of our continuing effort to protect merchants and consumers from transaction fraud."
Additional information on Verified by Visa can be found at: http://www.usa.visa.com/business/merchants/verified_index.html?it=h2_/ index.html. (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser`s URL address field.) Additional information on MasterCard SecureCode can be found at: http://www.mastercardmerchant.com/securecode/.
Authorize.Net selected CardinalCommerce as its provider for cardholder authentication services after a thorough review of technology options. The company`s Cardinal Centinel(TM) solution easily integrates within a merchant`s checkout process. Because CardinalCommerce has existing relationships with major merchant acquiring banks, provides a plug-in that works with all major scripting languages, and is CISP certified, they were the logical partner for Authorize.Net.
"With our Cardinal Centinel software in place, Authorize.Net merchants can move more aggressively against online transaction fraud," stated Kendall Myles, senior vice president of merchant services for CardinalCommerce. "The benefits of the service are compelling, as the cost of the service is quickly recovered by preventing fraudulent transactions, lost merchandise, high chargeback fees, and increasing consumer confidence in the online shopping experience."
About Authorize.Net
Authorize.Net provides secure, reliable, IP-based payment gateway solutions that enable merchants to authorize, settle and manage electronic transactions via Web sites, at brick-and-mortar stores, and on wireless devices. Authorize.Net is sold through an extensive network of reseller partners and leading financial institutions that offer Authorize.Net`s industry-leading payment services to their merchant customers. Authorize.Net is a service offered by InfoSpace Payment Solutions, a business of InfoSpace, Inc. (Nasdaq:INSP).
Additional information on Authorize.Net can be found at: http://www.authorize.net. Additional information on InfoSpace can be found at http://www.infospaceinc.com.
About CardinalCommerce Corporation
CardinalCommerce Corporation is a leading provider of a technology-neutral authentication platform for securing electronic and wireless commerce, thus ensuring that individuals, businesses and government agencies can process electronic transactions and access confidential information safely, securely and privately. Cardinal`s proprietary technology provides consumers, merchants, credit/debit card issuers, and processors the ability to conduct fully authenticated Internet-based e-commerce, while protecting the transactions from fraud. CardinalCommerce is based in Cleveland, Ohio, and has partners throughout the United States, Europe, Africa, the Middle East and India. For more information, visit www.cardinalcommerce.com.
This release contains forward-looking statements regarding Authorize.Net`s support for cardholder authentication programs including Verified by Visa and MasterCard(R) SecureCode(TM). These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect InfoSpace`s actual results include adoption of Cardholder Authentication Programs. A more detailed description of certain factors that could affect actual results include, but are not limited to, those discussed in InfoSpace`s most recent Quarterly Report on Form 10-Q, in the section entitled "Factors Affecting Our Operating Results, Business Prospects and Market Price of Stock." Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. InfoSpace undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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