Arcot Systems, Inc., and PEMCO Technology Services, Inc., announced a strategic partnership. PEMCO Technology will deliver Arcot’s TransFort solution as part of its award winning PowerLink processing system for card issuing financial institutions offering the Visa Authenticated Payment service — Verified by Visa. In support of Visa’s Authenticated Payment initiative, PEMCO Technology is making Verified by Visa available to more than 225 financial institutions nationwide and, in turn, to more than 2 million cardholders. Visa Authenticated Payment is the basis for Verified by Visa, an Internet payment authentication process designed to increase consumer and merchant confidence in e-commerce by reducing fraudulent Internet transactions. The Arcot TransFort solution supports Visa Authenticated Payment and provides merchants with the ability to initiate the authentication of an online Visa transaction, resulting in lower transaction costs and offering protection from fraud losses. Arcot TransFort has been recognized as fully compliant with the 3-D Secure interoperability standard by the Visa Interoperability Lab, and has been adopted by over 20 banks around the world.
“We selected Arcot because of its clear leadership in developing solutions for the Visa Authenticated Payment Program and its history of innovation in the payment security market,” said Brad Campbell of PEMCO Technology. “This service is a clear win for our current and prospective customers. It reduces their chargeback costs, it provides a value-added service to their cardholders, and the improved security will result in a more confident and more active online shopper.”
“Bringing together PEMCO Technology’s award winning PowerLink service with our market leading TransFort solution for the Visa Authenticated Payment Program is a great combination,” said Chet Silvestri, CEO and president of Arcot Systems. “We are pleased to offer a fully compliant Visa Authenticated Payment service to hundreds of card issuers that look to PEMCO to provide card processing services.”
About Arcot TransFort
Arcot TransFort strongly authenticates and digitally signs transactions in real-time, providing for the secure, non-repudiation of online payments. Scalable to hundreds of millions of transactions, Arcot TransFort allows companies to grow the volume and value of their online transactions and provide their customers with an added level of confidence and security in the business relationship.
Arcot TransFort is a multi-platform solution capable of authenticating transactions across Web, Virtual Private Network (VPN), and wireless environments. In addition, Arcot TransFort can comply with a variety of business rules or procedures that govern online payments and support multiple authentication methods including username/password (pass-code), physical smart cards (or “chip cards”), and the ArcotID(TM) Software Smart Card. The ArcotID is a means of strong authentication based on patented Arcot technology. It offers a similar level of protection as a physical smart card, but with the convenience of software. It protects a user’s digital credentials in a tamper-proof software container. If any attempt is made to compromise the credentials, the attempt is promptly identified and the credentials are neutralized.
Arcot Systems, Inc., is the leading provider of authentication and access control solutions for securing e-business in Internet-scale, transactional and wireless environments. Only Arcot provides cost-effective, scalable, software-based solutions for strongly authenticating users and transactions and managing access for payment systems, B2B extranets, Web portals and virtual private networks. Arcot solutions meet the business need for strong transactional security while providing the customer a user-friendly experience with anytime, anywhere convenience. Leaders in financial services, healthcare, and e-commerce are using Arcot solutions to protect their customers’ privacy and reduce fraud. For more information, visit [www.arcot.com].
About PEMCO Technology Services
PEMCO Technology Services provides flexible solutions for financial institutions’ in-house Visa, MasterCard, and ATM programs. PEMCO is a technology leader, offering online authorizations via a Virtual Private Network, FTP, the latest neural network fraud tools, flexible cardholder loyalty programs, and reliability that’s won seven Visa USA awards. For more information, visit us at [www.pemcotech.com].