A good move to encourage more e-commerce...
InfoSpace's Authorize.Net Payment Processing Platform to Offer ''Verified by Visa'' Payer Authentication Fraud Protection InfoSpace Maintains Commitment to Providing the Most Robust and Secure Platform for Online Payments by Offering Verified by Visa Compliant Fraud Prevention Services Through Agreement With iShopSecure
BELLEVUE, Wash., Oct 29, 2001 (BUSINESS WIRE) -- InfoSpace, Inc. (NASDAQ:INSP), a provider of wireless and Internet software and application services, today announced that the company's Authorize.Net(TM) payment processing platform will offer real-time payer authentication anti-fraud technology that meets Verified by Visa compliance standards.
This agreement demonstrates InfoSpace's commitment to leveraging new technologies to provide partners with the ability to deploy cutting edge services to their customers. The new service, which complies with the guidelines set forth under the Visa 3-D Secure global interoperability standard, offers participating merchants a fast and effective means to confirm the identity of a user, greatly increasing the security of online transactions and giving a new piece of mind to participating merchants who accepts payments online.
Verified by Visa allows consumers to actively protect their Visa accounts from unauthorized use by selecting a personalized password. Each time cardholders make purchases at participating online stores, they are automatically presented with a Verified by Visa window where they enter their password and authenticate themselves to the Issuer. Verified by Visa significantly minimizes fraud and customer disputes because only the cardholder and their card Issuer know the password.
In cases where a cardholder has not yet enrolled in the Verified by Visa program, and for all other credit cards and online checks used in online transactions with participating merchants, iShopSecure's proprietary TRANSACT-SECURE(TM) technology performs real-time multi-tiered authentication of the purchaser's identity during checkout using information that is only known by the actual cardholder.
Together, Verified by Visa and TRANSACT-SECURE help merchants prevent credit card and eCheck fraud during checkout. Additionally, transactions from online merchants and telesales who sign up for the TRANSACT-SECURE service carry the iShopSecure insurance of up to $5,000 per transaction.
"Authorize.Net merchants will now be able to take advantage of these payer authentication solutions which we believe will greatly enhance fraud protection for both our merchants and their customers," said Roy Banks, general manager of Authorize.Net. "This common sense approach to preventing fraud is tightly integrated into our gateway and represents a robust new revenue stream for Authorize.Net and our resellers."
"We are very excited about our relationship with InfoSpace," said Joseph A. McDonnell, chairman and chief executive officer of iShopSecure, Inc. "iShopSecure is proud to offer Authorize.Net merchants both the Verified by Visa and TRANSACT-SECURE service which carries an insurance policy up to $5000 per authenticated transaction for all major credit cards and eChecks."
InfoSpace's Authorize.Net(TM) service has been pioneering online payment processing solutions since 1996 providing server-based payment solutions that enable merchants to process transactions in a secure, real-time environment 24 hours a day. Over 120,000 merchants have signed up for Authorize.Net, which enables merchants to authorize, process, and manage credit card and electronic check transactions on Internet-enabled mobile devices and personal computers. |
