CARDINALCOMMERCE FORMS PARTNERSHIP WITH PARADATA SYSTEMS
- Reinforces International Leadership Position
- Issuer and Merchant Products Achieve Compliance With Visa`s 3-D Secure
V1.0.1
ETA Midyear Meeting & Exposition, Seattle, WA - September 18, 2002: Today,
CardinalCommerce Corporation announced that Paradata Systems has agreed to
provide the Cardinal
Centinel merchant authentication software to its customers. Cardinal
Centinel is a
software authentication platform that supports credit card industry
initiatives to reduce
the incidence of online fraudulent transactions and guarantee payments to
online merchants.
Cardinal Centinel makes it easy for merchants to increase sales by
participating in these
programs and integrating them into their electronic shopping sites.
Shannon Byrne, president and CEO of Paradata Systems, stated, "Paradata`s
partnership with
CardinalCommerce further enhances our efforts to secure online transactions. We selected
Cardinal Centinel because it can deliver solutions required by customers
across all
authentication platforms."
Paradata has compiled a strong industry track record as a merchant provider
of white label
services to several high-profile financial organizations, including the
Royal Bank of
Canada, Canada`s largest bank, and Moneris Solutions, a joint venture
between the Royal Bank
of Canada and Bank of Montreal`s Merchant Acquiring and Processing business.
"Cardinal Centinel continues to demonstrate its position as the leading
authentication
solution in the merchant processing industry," said Kendall G. Myles, Senior
Vice President
- Merchant Services at CardinalCommerce. "Our goal is to support the
efforts of customers
to increase sales and to reduce the cost of fraudulent transactions, easily
and affordably."
CardinalCommerce also announced that it has successfully completed Visa`s
3-D Secure Vendor
Compliance Testing Program, Version 1.0.1, for both their ACS and MPI
components. Cardinal`s
ACS component consists of its Payment Authentication Platform, which has
been primarily
designed to provide authentication services to issuing banks and their
cardholders.
Cardinal`s MPI component, Cardinal Centinel is used by merchants and
merchant service
providers to authenticate cardholders` identities, eliminate liabilities for
fraudulent
transactions, and guarantee payments to merchants.
Visa, MasterCard and the EFT Networks are each developing their own
initiatives to mandate
online authentication. These initiatives are intended to reduce online
fraud and increase
consumer confidence in e-commerce. CardinalCommerce`s products support each
of these
initiatives from a single software platform, allowing customers to comply
with each of the
initiatives` mandates in one simple and cost effective solution.
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. The first
application of Cardinal`s
proprietary technology, the Cardinal Payment Authentication Platform,
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. For
more information, visit www.cardinalcommerce.com.
Contact: Tim Curtiss
Wall Street Investor Relations
Office: 216/831-6532 Mobile 216/533-8238
tcurtiss@wallstreetir.com
About Paradata Systems
Paradata Systems Inc., founded in 1993 and headquartered in Whistler, B.C.,
provides
industry leading Integrated Payment Systems and services. Paradata has
applied its expertise
in software development, security technology and transaction processing to
enable merchants
to manage payments over the Internet. Paradata has positioned itself to
build and manage
the necessary infrastructure for financial organizations to service its
merchant base with
their electronic payment and business processing needs. Paradata has a
proven industry track
record providing white label services to several high-profile financial
organizations
including, the Royal Bank of Canada, Canada`s largest bank, and subsequently
to Moneris
Solutions, the joint venture between the Royal Bank of Canada and Bank of
Montreal`s
Merchant Acquiring and Processing business. In 2000, Paradata extended its
services into the
US market working with Vital Processing Services, Nova Information Systems
and Moneris USA. For more information, please visit www.paradata.com.
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