Certegy Inc., announced it is implementing the Visa Payer Authentication service âVerified by Visa.â Certegy will make the Verified by Visa service available on March 29th to its 6,000 domestic Visa issuing financial institutions that service more than 13 million Visa card accounts. Certegy will later deploy the service to its issuers worldwide.
Certegyâs strategy is to offer a comprehensive suite of state-of-the-art payment authentication and security services to further instill confidence in their clients and their clientsâ customers in the integrity of the online payment process. Visa Payer Authentication is the basis for Verified by Visa, an Internet payment authentication service designed to increase consumer and merchant confidence in e-commerce by reducing fraudulent Internet transactions.
In a partnership with Arcot Systems, Inc., Certegy is employing Arcotâs 3-D Secure-compliant TransFort solution as the managed hosting service to support Verified by Visa, providing merchants with the ability to initiate the authentication of an online Visa transaction, resulting in lower transaction costs and offering protection from fraud losses.
Arcot TransFort has been recognized as fully compliant with the 3-D Secure interoperability standard by the Visa Interoperability Lab, and has been adopted by more than 20 banks around the world.
âArcot was the clear choice because of their leadership in delivering solutions for Verified by Visa. They were instrumental in developing the 3-D Secure protocol,â said Vince Pavese, senior vice president and general manager, Certegy Card Services North America. âFor our issuers, this service decreases chargeback liability while instilling greater confidence in a secure Internet payment system for cardholders. The result is a more loyal cardholder and more active online shopper,â concluded Pavese.
âWe are very pleased Certegy, a global leader in the payment processing market, has selected Arcot to deliver Verified by Visa to their customers,â said Chet Silvestri, president and CEO of Arcot Systems. âOur proven, fully compliant Visa Authenticated Payment service will allow Certegyâs thousands of issuers to quickly and affordably offer this valuable service to their cardholders.â
Certegy (NYSE:CEY) provides credit, debit and merchant card processing, e-banking, check risk management and check cashing services to over 6,000 financial institutions, 175,000 retailers and 140 million consumers worldwide. Headquartered in Alpharetta, Georgia, Certegy maintains a strong global presence with operations in the United States, Canada, United Kingdom, Ireland, France, Chile, Brazil, Australia and New Zealand. As a leading payment services provider, Certegy offers a comprehensive range of transaction processing services, credit risk management solutions and integrated customer support programs which facilitate the exchange of business and consumer payments. Certegy generated $851 million in revenue in 2001. For more information on Certegy, please visit [www.certegy.com].
About Arcot TransFort
Arcot TransFort strongly authenticates and digitally signs transactions in real-time, providing for the secure, non-repudiation of online payments. Scalable to hundreds of millions of transactions, Arcot TransFort allows companies to grow the volume and value of their online transactions and provide their customers with an added level of confidence and security in the business relationship.
Arcot TransFort is a multi-platform solution capable of authenticating transactions across Web, Virtual Private Network (VPN), and wireless environments. In addition, Arcot TransFort can comply with a variety of business rules or procedures that govern online payments and support multiple authentication methods including username/password (pass-code), physical smart cards (or âchip cardsâ), and the ArcotIDTM Software Smart Card.
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 ArcotIDâ¢ 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 customersâ privacy and reduce fraud. For more information, visit [www.arcot.com].