Baltimore Technologies Selected to Provide Public Key Infrastructure for MasterCard® SecureCode™
Solution to Help Significantly Reduce e-Commerce Fraud
Boston - February 25, 2003: Baltimore Technologies (London:BLM), a global leader in e-security, today announced it has been selected by MasterCard International to provide the public key infrastructure (PKI) for the MasterCard® SecureCode™ solution, a global e-commerce security solution for protecting against the unauthorized use of confidential cardholder account data over the Internet.
UniCERT™, Baltimore`s flagship PKI product, will allow MasterCard to issue and manage digital certificates for its member financial institutions, providing enhanced payment guarantees for online transactions.
The MasterCard SecureCode solution helps overcome two of the most pressing issues in e-commerce today: cardholder concerns about the safety of online shopping and Internet merchants` need for an enhanced payment guarantee. The program provides card issuers a way to authenticate the identity of the person completing Internet payment transactions, significantly reducing online fraud and the number of related chargebacks.
"MasterCard selected Baltimore Technologies for their demonstration of global leadership in financial e-security. Baltimore`s highly scalable PKI technology platform helps provide MasterCard the ability to deliver secure e-business services to our members worldwide," said Bruce Rutherford, vice president, Global e-Business and Emerging Technologies, MasterCard International.
"Baltimore is delighted to announce our collaboration with MasterCard on the new SecureCode program and to further build on the long standing relationship between our two companies," added Denis Kelly, Executive VP Global Operations, Baltimore Technologies plc. "The MasterCard SecureCode program underpins the importance of strong security at all levels of online transactions. SecureCode enables consumers, merchants and banks to engage safely in e-commerce and is an important step for secure online Internet transactions."
About MasterCard International
MasterCard International is a leader in global e-business. MasterCard is focused on providing its member financial institutions with customized, meaningful global e-business solutions that connect them to their accountholders. Through its investment in industry innovation, participation in standards development and business alliances, MasterCard is staying in the forefront of technology integration to enable anytime, anywhere payments across multiple channels and various devices. MasterCard`s global e-business solutions include Internet security, smart cards, mobile commerce/wireless, business to business electronic commerce, and numerous emerging technologies.
MasterCard International has a comprehensive portfolio of well-known, widely accepted payment brands including MasterCard, Cirrus and Maestro. More than 1.7 billion MasterCard, Cirrus and Maestro logos are present on credit, charge and debit cards in circulation today. With approximately 25,000 MasterCard, Cirrus and Maestro members worldwide, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is a leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. MasterCard`s award-winning Pricelessâ advertising campaign is now seen in 90 countries and in 45 languages, giving the MasterCard brand a truly global reach and scope. With more than 29 million acceptance locations including over 835,000 MasterCard/Maestro/Cirrus ATMs around the world, no payment card is more widely accepted globally than MasterCard. For the nine months ended September 30, 2002, gross dollar volume exceeded US$831.7 billion. MasterCard can be reached through its website at http://www.mastercardinternational.com.
About Baltimore Technologies
Baltimore Technologies` products, services and solutions address the fundamental security needs of e-business in distributed environments. Baltimore`s e-security technology enables companies to verify the identity of electronic counterparties and securely manages which resources and information users can access through open networks. Many of the world`s leading organisations in Finance and Government have deployed Baltimore`s e-security technology to enable e-business over fixed and wireless networks. Baltimore also offers worldwide support for its authorization management and public key-based authentication products.
Baltimore`s products, services and solutions are sold directly as well as through its worldwide partner network, Baltimore TrustedWorld™. Baltimore Technologies is a public company, listed on the London Stock Exchange (BLM). For more information on Baltimore Technologies, please visit http://www.baltimore.com
Media Contacts - Baltimore Technologies:
Irene Dehaene
Baltimore Technologies
Tel: +353 1 881 6407
irene.dehaene@baltimore.com
Sandy McLaughlin
Soucy Communications Group (US)
Tel: (978) 266 1700
sandym@scg-pr.com
Sarah Scales
Brands2Life (EMEA)
Tel: +44 20 7386 6200
Sarah.scales@brands2life.com
Media Contacts - MasterCard International:
Christina Costa
MasterCard International
Tel: 914-249-4606
christina_costa@mastercard.com
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Trademarks
UniCERT is a trademark of Baltimore Technologies plc. All other product names are trademarks or registered trademarks of their respective owners.
Legal Disclaimer
Certain statements that are not historical facts including certain statements made over the course of this document may be forward-looking in nature. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements implied by such forward-looking statements.
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