ValiCert, Inc., a leading provider of secure solutions for paperless e-Business, announced ValiCert e-Pay Secure. This new solution features a suite of products and services designed specifically for banks, payment networks and payment processors to allow them to develop secure payment solutions for trusted corporate and consumer e-Payments. ValiCert e-Pay Secure addresses complex industry requirements, and is expected to streamline payment processes, improve productivity and reduce costs associated with manual payment methods.
ValiCert e-Pay Secure is ideal for institutions that partner with payment processors and for banks that are building improved payment systems, and supports a variety of e-Payment scenarios, such as Identrus Eleanor for conditional corporate payments, Visa-authenticated payments for consumer transactions and bank-to-bank settlement and check imaging. According to TowerGroup, the global banking industry spends approximately $10.8 billion worldwide annually on information technology for payments processing, which represents approximately 12% of the industry’s total current annual spending of about $88.8 billion. By adopting the ValiCert e-Pay Secure solution, enterprises will be able to leverage industry-leading products to enable trusted corporate and consumer payments online, and will also be ideally positioned to take the lead in the rapidly emerging trusted payments market.
“The financial industry recognizes that to remain competitive and control costs — and, at the same time, be mindful of their future growth and success — they need to maximize their use of trusted e-Payments technology,” said Yosi Amram, president and CEO of ValiCert. “By relying on the trusted services of ValiCert e-Pay Secure, banks and financial institutions can move more processes to the public Internet — such as traditional paper-based systems, electronic data interchange-based systems and private Internet Protocol-based networks. The result will be the ability to more easily exchange payments directly with consumers and with business partners.”
About ValiCert e-Pay Secure
The ValiCert e-Pay Secure family of products and services relies on the full range of industry-leading ValiCert offerings. The components of ValiCert e-Pay Secure include:
— ValiCert Transaction Authority — provides a platform for deploying secure XML payment protocols by guaranteeing secure routing and response to any backend financial and enterprise service request.
— ValiCert Validation Authority — delivers a high-performance, reliable and scalable transaction validation solution for digital certificates used in payment and business applications.
— ValiCert SecureTransport — offers a secure, reliable, enterprise-class file transfer for delivering batch payment files, settlement details, EDI and check images over the Internet.
— ValiCert Digital Receipts — provides electronic proof, archive and audit for payment transactions.
— ValiCert Document Authority — enables secure document delivery, sharing, storage, and digital signing for payment initiation, approval and other financial workflow processes.
— ValiCert Professional Services — on-site consulting and integration services, delivered by trained domain experts and practicing consultants.
“The lack of end-to-end, highly interoperable security platforms for online payments is one of the major impediments slowing the growth of e-Commerce,” said Neil Katkov, analyst with Celent Communications. “An integrated documentation and transaction solution that overcomes the problem of competing security protocols, such as the ValiCert e-Pay Secure offering, should go a long way to boosting adoption of e-Payments, particularly in the corporate sector.”
Features and Applications
Providing a secure infrastructure for secure payments for businesses and consumers is critical for banks, payment processors and merchants that desire to improve processes and reduce costs, while maintaining a high level of customer service and security. Because of its tightly integrated modular design, ValiCert e-Pay Secure can be deployed rapidly, enabling enterprises in the finance sector to more safely and easily engage in e-Payment transactions, while reducing the cost and risk associated with fraud, dispute resolution and paper-based processes.
ValiCert e-Pay Secure has been designed for banks engaged in, or planning on, implementing electronic payments initiatives. For each of these applications, ValiCert e-Pay Secure can be tailored to provide a unique solution to meet the demands and challenges of each market. These applications include:
Secure Consumer e-Payments: ValiCert e-Pay Secure is a critical component in secure consumer e-Payment systems. By leveraging the ValiCert Validation Authority, ValiCert SecureTransport and Digital Receipts solutions, banks and payment processors can authenticate, digitally sign, authorize, settle and archive payments. This allows banks to reduce Internet credit card fraud, and provides a platform for collecting and presenting detailed transaction information in XML format.
Bank-to-Bank e-Payments: ValiCert e-Pay Secure can be customized to include identity verification, payment instructions and settlement, and check-imaging activities for secure Bank-to-Bank e-Payments applications. The ValiCert Validation Authority and ValiCert SecureTransport solutions are used to validate digital credentials and transport batch payment and settlement instructions and move digitized check images between US banks. Identrus and SWIFT member banks have implemented ValiCert e-Pay Secure for similar applications.
Trusted Corporate e-Payments: ValiCert e-Pay Secure has been designed to integrate with many of the corporate e-Payments applications currently in use. IBM and Unisys are both currently building complete Eleanor solutions utilizing ValiCert e-Pay Secure infrastructure. These solutions will offer conditional payments and time-dated guaranteed payments features to banks and financial services organizations.
ValiCert is a leading provider of secure solutions for paperless e-Business. ValiCert Global 2000 customers in financial services, healthcare, manufacturing and government sectors realize significant ROI from deploying ValiCert solutions to help migrate costly or inefficient business processes to the Internet, without losing any trust and security in the process. ValiCert’s family of products conforms to the guidelines of the e-Sign legislation and provides a secure, legal-grade environment for conducting online commerce.
ValiCert has technology and marketing alliances with a range of security, e-Commerce, systems integrators and application specific companies. With its products and services available through a worldwide direct sales force, resellers and global affiliate network, ValiCert is headquartered in Mountain View, California and has operations throughout the Americas, Europe and Asia. More information about ValiCert is available on the World Wide Web at [http://www.valicert.com].