First Data Corp., a leader in electronic commerce and payment services, and Certicom,, a leading provider of mobile e-business security, announced a strategic licensing agreement. First Data licensed Certicom’s leading elliptic curve cryptography and plans to incorporate the highly efficient technology in a number of areas including smart cards.
Certicom’s ECC technology is ideally suited for securing the new generation of small devices that are limited by low processing speed, network bandwidth, and battery power. Using ECC, digital signatures can be performed on small devices such as smart cards without the additional cost of a cryptographic co-processor found with other systems. The small key sizes and short signature lengths provided with ECC can lead to significant reduction in data storage required to support processing large volumes of transactions.
! “There is an ever-increasing need for strong and efficient tools to protect consumer privacy and insure the integrity of financial transactions,” said Gene Kathol, vice president for First Data Corp. “Our selection of Certicom and their strong cryptographic tools further enables application of digital signatures and encryption into our products to help us continue to provide secure and efficient products for our customers.”
“Certicom has been collaborating with First Data on digital signature technology for years, beginning with our mutual involvement in financial industry standards,” said Richard Depew, executive vice president of Certicom. “We are very pleased to take this important step with First Data towards enabling the market with efficient signature systems that meet the business case for wide scale deployment.”
About First Data Corp.
First Data Corp. (NYSE: FDC), with global headquarters in Denver, powers the global economy. As the leader in electronic commerce and payment services, First Data serves approximately 2.5 million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services using virtually any form of payment. With more than 27,000 employees worldwide, the company provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; Western Union(R) money transfers and money orders; and check processing and verification services throughout the United States, United Kingdom, Australia, Canada, Mexico, Spain and Germany. Its money transfer agent network includes approximately 104,000 locations in more than 186 countries and territories. For more information, please visit the company’s Web site at [www.firstdata.com].
Certicom is a leading provider of information security software and services, specializing in solutions for mobile e-business. The company’s products and services are specifically designed to address the challenges imposed by a wireless data environment. Certicom’s solutions incorporate its efficient encryption technology and are based on industry standards for information security that utilize public key cryptography. Certicom’s products are currently licensed to more than 150 customers including Cisco Systems, Inc., Handspring Inc., Motorola, Inc., Nortel Networks, Openwave Systems, Inc., Palm, Inc., QUALCOMM, Inc., Research In Motion Ltd. and Sony International (Europe) GmbH. Certicom’s headquarters and worldwide sales and marketing operations are based in the Silicon Valley in Hayward. For more information, visit Certicom’s Web site at [http://www.certicom.com].