VASCO's Digipass 800 Selected by MasterCard and Barclaycard (UK) To be Part of the First EMV-CAP Project in Europe
Monday November 24, 5:00 am ET
First Use of EMV-Smart Card for E-Commerce Trusts On VASCO Strong Authentication
biz.yahoo.com
OAKBROOK TERRACE, Ill., and BRUSSELS, Belgium, Nov. 24 /PRNewswire- FirstCall/ -- VASCO (Nasdaq: VDSI), a global provider of enterprise-wide security products that supports e-business and e-commerce, announced today that its Digipass 800 for EMV (Europay-Mastercard-Visa) will be used as strong authentication device for the first European CAP (chip authentication program) in the e-commerce space by Barclaycard (http://www.barclaycard.co.uk ) and MasterCard (http://www.mastercard.com ). VASCO's Digipass 800 is an official partner product in MasterCard's EMV Program.
Barclaycard will offer its customers a service to perform secure online e-commerce transactions, while using the same pin and the same card as they use for their online banking transactions and money retrievals from an ATM (payments at POS terminals). An EMV smart card used in conjunction with VASCO's Digipass 800 gives to the end user both convenience and confidence. The system is very easy to use and transforms the Internet into a secure channel for doing business. The bank/card issuer saves costs by the reduced number of Pin codes used by the end user (less code management/back office) and can cut marketing and operational costs.
"VASCO is honoured that its Digipass 800 unconnected smart card reader has been selected by Barclaycard and MasterCard to be part of the first CAP project in Europe," said Jan Valcke, VASCO's President and COO. "With approximately 250 banks in its customer base and over 10 million users, VASCO has built a great amount of expertise in offering strong user authentication to financial institutions and their accountholders. Digipass 800 has already proven to be a very successful and reliable product, being used by over 2 million cardholders word wide. Together with MasterCard, VASCO will offer a secure, cost effective and extremely easy to use credit card payment and Internet banking system to Barclaycard's customers. For the first time ever, credit card users will be able to retrieve money from an ATM-terminal, to perform Internet banking transactions, to pay in a shop and to purchase goods over the telephone or the Internet with one single PIN code."
"VASCO's Digipass 800 is a proven, very easy to use strong authentication device, with important benefits for the bank, the card issuer and the card user," said Mr Pascal Dufour, MasterCard's Head of Chip Product Management. "Security, cost effectiveness, convenience and confidence are key success factors for the e-commerce sector. Together with VASCO and Barclaycard we will make this first European EMV/CAP project a success." |
