(COMTEX) B: (TTP.)(VRSN) Trintech and VeriSign Deliver Integrated E-C
B: (TTP.)(VRSN) Trintech and VeriSign Deliver Integrated E-Commerce Solution to
Banks and Consumers for Secure Online Payments
SAN MATEO, Calif., Nov 29, 1999 (BUSINESS WIRE) -- Trintech Group PLC
(Nasdaq:TTPA)(Neuer Markt:TTP), a leading provider of electronic
payment infrastructure solutions, and VeriSign Inc. (Nasdaq:VRSN), the
world's leading provider of Internet trust services, announced today in
the first of two announcements an integrated solution that will give
banks and other payment card issuers a quick and easy way to issue
secure virtual credit cards to their customers for use over the
Internet.
The integration of Trintech's NetIssuer virtual credit card solution
with VeriSign's OnSite(SM) managed digital certificate service will
provide card issuers with the ability to bind a customer's identity to
a digital representation of a physical payment card, thereby delivering
secure, authenticated, online payments. Digital certificates are
electronic credentials used to identify entities on the Internet and
enable secure, verifiable online transactions and communications.
As banks and other card issuers look toward implementing online credit
cards for use by their customers, they have a specific need to provide
a solution which is simple and seamless to the millions of individuals
and merchants looking to conduct secure online transactions. The
Trintech-VeriSign integrated solution is a major step in transforming
unauthenticated Internet transactions to a "cardholder present" status
without the need for any technological understanding on the part of
bank customers or merchants. The integration of digital certificates
issued by banks using VeriSign's OnSite managed service with Trintech's
NetIssuer technology creates one of the first virtual credit cards
featuring the enhanced security and "unforgeability" of digital
certificates.
"The partnership with Trintech exemplifies our commitment to providing
the underlying trust infrastructure to secure a broad range of
e-commerce applications," said Stratton Sclavos, president and CEO of
VeriSign. "With this integrated solution, payment card issuers now have
a scalable way of delivering online credit cards for secure
e-commerce."
"Trintech selected VeriSign OnSite as a best-in-class solution which
met our stringent criteria for security, performance and quality," said
John McGuire, CEO and co-founder of Trintech. "The VeriSign partnership
gives Trintech customers a solution that substantially improves payment
security on the Internet. As e-commerce grows, customers demand greater
levels of security and the combination of Trintech's NetIssuer and
VeriSign's OnSite managed service provides consumers with a solution
that has the potential to be even more secure than physical world ATM
and credit card transactions in stores."
Trintech's NetIssuer product supports existing and well understood
distribution and activation models in the physical card world, thereby
preserving and enhancing the position of the card issuer to provide
streamlined deployment, reduced time to market and an easily achieved
payment offering. For added security, electronic cards are issued for
pre-existing credit or debit card accounts and key information such as
card number, expiration date and billing address cannot be configured
by the cardholder.
NetIssuer can also work with existing bank systems to create virtual
cards for cardholders that apply for new cards online. NetIssuer allow
customers to seamlessly transmit payment information to merchants with
a single mouse click, making online purchasing quick, secure and
convenient. To link a customer's identity to a virtual card, banks
using VeriSign's OnSite managed service can issue cardholders a digital
certificate. OnSite enables banks to control digital certificate
enrollment, authentication, issuance and lifecycle management while
leveraging VeriSign's highly scalable trust infrastructure. Both
NetIssuer and OnSite allow issuers to determine the "look and feel" of
their customers' virtual credit cards to maximize an issuer's branding
opportunities.
About VeriSign, Inc.
VeriSign, Inc. (Nasdaq:VRSN) is the leading provider of Internet
trust services and digital certificate solutions needed by Web sites,
enterprises and individuals in order to conduct trusted and secure
electronic commerce and communications over IP networks. VeriSign's
digital certificate services for Web sites and consumers are available
through the company's Web site at www.verisign.com and a growing number
of ISPs and Web hosting companies. The company's digital certificate
services for enterprises and electronic commerce service providers are
available through regional account representatives, resellers, and
global affiliates.
About Trintech
Founded in 1987, Trintech Group Plc. is a leading provider of secure
electronic payment infrastructure solutions for card-based transactions
in the physical world and over the Internet. The company offers a
complete range of payment software products for credit, debit,
commercial and procurement card applications, as well as being a world
leader in the deployment of payment solutions for Internet commerce
that are fully SSL and SET(TM) compliant. Trintech's range of scalable
open systems architecture solutions for UNIX(R) and Windows NT(TM)
platforms covers consumer, merchant and financial institution
requirements for physical payments and the emerging world of electronic
commerce. Trintech can be contacted in the U.S. at 2755 Campus Drive,
San Mateo, CA 94003 (Tel: 650/227-7000) and in Ireland at Trintech
Building, South County Business Park, Leopardstown, Dublin 18 (Tel:
353-1-207-4000). Trintech can be reached on the Web at
trintech.com.
This press release may contain "forward looking statements" within The
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Any
"forward looking statements" in this press release are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those stated. Factors that could cause or
contribute to such differences include the ability to develop, market
and sell its e-commerce software, the market acceptance of the SSL or
SET standards for e-commerce payment transactions, its ability to
effectively respond to future changes in the e-payment software market
and, in particular, the market acceptance by card issuers of the
NetIssuer-OnSite solution, and by consumers use of virtual credit
cards. Actual performance may also be affected by other factors more
fully discussed in Trintech's Form F-1 filed with the US. Securities
and Exchange Commission.
Copyright (C) 1999 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: Trintech
Richard Martin, 650/227-7018
richard.martin@trintech.com
or
Nadel Phelan
Gary Byrd, 831/439-5570 ext. 223
gary@nadelphelan.com
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