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To: uthabros who wrote (8656)	3/29/2000 6:07:00 PM
From: StockDung	Read Replies (2) \| Respond to of 18222

Orbiscom launches online card fraud protection system NEW YORK, March 29 (Reuters) - Electronic commerce payments technology company, Orbiscom, on Wednesday unveiled technology that would combat fraud by allowing people to shop online without revealing their credit card numbers. Its O-card software system assigns online shoppers a unique, single-use number from a computer at a bank, to use in lieu of their credit card number for specific purchases, Orbiscom said. Merchants accept the number like a regular credit card number and the transaction is processed, it said. "We are trying to adress the question of Internet payments and security," Graham O'Donnell, Orbiscom Group chief executive told Reuters. "Card-issuing companies have problems because costs go up dramatically because of bad transactions. Consumers are concerned about their cards being used. And when there are bad transactions, merchants take on the fraud." Card issuers install the Orbiscom system, then their cardholders can download software that enables them to make online purchases without disclosing their card numbers, the company said. When shopping, cardholders open the software, which shows up on personal computers as a replica of their payment card without the number. Cardholders then enter a pasword, which is sent to the bank, which sends back a unique number. The number does not work after the purchase is made. Orbiscom said it is rolling the software out in the United States and Europe. Allied Irish Banks Plc <ALBK.L> has 350,000 cardholders and plans to enable at least 50,000 Visa cards with O-card software in the coming year, Orbiscom said. 17:44 03-29-00