Six Companies Announce Plans to Support Proposed Digital Payments Industry Standard
First Data Corp., Compaq, TSA, Certicom, InterWorld and CyberSafe
Cooperating to Develop AADS Digital Payments Infrastructure
MIAMI, Dec. 7 /CNW/ - A group of leading technology companies today
announced its support and plans to develop the Account Authority Digital
Signature (AADS) and proposed Accredited Standards Committee (ASC) X9 digital
payments standard. First Data Corp., Compaq Computer Corp., Transaction
Systems Architects (TSA) Corp., Certicom, InterWorld Corporation (INTW) and
CyberSafe together made the announcement at the Bank Administration Institute
(BAI) Retail Delivery 1999 Conference here.
These companies are developing solutions for a secure digital payments
infrastructure based on AADS, to be used on either the Internet or at
point-of-sale terminals. A demonstration -- including a reference
implementation and Internet-based merchant web site -- is available at the
conference. (To make an appointment to see the demo, visit booth No.1242.)
An implementation of this secure digital payments solution uses a smart
card and personal identification number (PIN), that, when combined, provide a
secure ``digital signature' for purchases transacted either on the Internet
or at a point-of-sale terminal. The PIN activates the signing key in the smart
card to give each transaction a unique digital signature. Once initiated, the
secure transaction is authenticated as being uniquely associated with the
buyer, and is securely transferred through the authentication process.
This digital signature system provides the purchaser with a greater
degree of security and privacy than traditional systems, while simultaneously
providing the merchant with greatly reduced charge-back and transaction
repudiation. With AADS, the card issuer, which has the existing consumer
relationship, handles both the authentication and the transaction
authorization. By eliminating the need for third-party authorization, the
likelihood of theft of credit card content and information -- including
numbers on the Internet -- is reduced. The AADS solution applies equally to
credit card or debit card processing.
``First Data is supporting this and other security and authentication
solutions and protocols desired by consumers, merchants and bank card issuers.
We are committed to ensuring that electronic transactions -- whether over the
Internet or at a brick-and-mortar merchant location -- are as safe and secure
as possible,' said Lee Adrean, executive vice president of First Data Corp.,
responsible for the company's Internet Commerce initiatives.
``CyberSafe and First Data have been working together to meet an
important market requirement for digital payments -- security infrastructures
that provide a worry-free environment for consumers and merchants in
conjunction when using real or virtual smart cards,' said Jim Cannavino,
chairman and CEO of CyberSafe Corp. ``CyberSafe believes that AADS is the
basis for financial settlement, security, and on-line shopping experiences
that directly address consumer security and privacy concerns as well as
eliminate merchant concerns related to charge-backs and repudiation of
charges.'
Each of the companies supporting the statement of direction will
contribute a unique and important part of the infrastructure:
- First Data Corp. intends to support its customers by providing
AADS-enabled transaction processing services and smart cards.
- TSA intends to support AADS in software and services based on its
BASE24(R), i24(TM) and e24(TM) product lines, with particular focus on
implementation of a ``PIN Debit on the Internet' capability.
- Certicom intends to provide the elliptic curve encryption technology
for smart card and authentication engines.
- Compaq currently ships certain components of the Compaq desktop,
server, and laptop product lines enabled for reading/signing AADS
smart cards. Compaq also provides the Compaq NonStop(TM) Himalaya
S-series product line that supports TSA BASE24(R) software product
offerings.
- InterWorld intends to offer digital signature support as part of its
Enterprise Commerce solution.
- CyberSafe will enable security for AADS, by providing e-commerce
application developers a software development kit (SDK) and other
security infrastructure products and services to enable rapid
deployment of an AADS infrastructure.
About First Data
Atlanta-based First Data Corp. (NYSE: FDC) helps move the world's money.
As the leader in electronic commerce and payment services, First Data serves
more than two 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. For more information, please visit the company's
web site at www.firstdatacorp.com.
About InterWorld
InterWorld Corporation is leading the Enterprise Commerce movement that
enables businesses to compete and evolve in today's new digital economy. With
InterWorld's Commerce Exchange solution, manufacturers, distributors and
retailers can get to market quickly, scale to meet growing demands, as well
as, evolve to keep pace with changing market conditions and customer demands.
For more information, please visit www.interworld.com.
About TSA
Transaction Systems Architects' (NASDAQ:TSAI) software facilitates
electronic payments by providing consumers and companies access to their
money. Its products are used to process transactions involving credit cards,
debit cards, smart cards, home banking services, checks, wire transfers as
well as automated clearing and settlement. TSA solutions are used on more than
3,200 product systems in 75 countries on six continents. For more information,
visit www.tsainc.com.
About Compaq
Compaq Computer Corporation is the second-largest computer company in the
world and the largest global supplier of computer systems. Compaq develops and
markets hardware, software, solutions, and services, including
industry-leading enterprise computing solutions, fault-tolerant
business-critical solutions, enterprise and network storage solutions,
commercial desktop and portable products, and consumer PCs. Customer support
and information are available at www.compaq.com.
About CyberSafe
CyberSafe is a privately held corporation founded in 1991. Its
award-winning TrustBroker(TM) Security Suite, Defensor(R), and Centrax(TM)
product lines are designed to enable secure electronic business, while
reducing administration costs. CyberSafe is headquartered in Issaquah, Wash.,
and on the World Wide Web at www.cybersafe.com, please send requests to
info(at)cybersafe.com.
About Certicom
Certicom is a leading provider of next-generation encryption technology
used to build strong, fast, and efficient security solutions. Major computing
and communications companies, such as 3Com/Palm Computing, BellSouth Wireless
Data, Hewlett-Packard, Motorola, Pitney Bowes and VeriFone, incorporate
Certicom's technology into electronic commerce software, wireless messaging
applications, and smart cards. With its acquisitions of Consensus Development
Corp. and Uptronics Incorporated, Certicom is now a leading source for a
complete range of OEM security products and services, including cryptographic
toolkits, custom implementations, and security integration services and
consulting. Certicom's worldwide sales and marketing operations are based in
Hayward, Calif., with cryptographic research and product development in
Toronto, Canada. Certicom shares are traded on the Toronto Stock Exchange
under the symbol ``CIC.' For more information, visit Certicom's Web site at
certicom.com. |
