CardinalCommerce Corporation, the architects of the universal secure transaction platform, has been named by Visa U.S.A., the world’s largest consumer payments system, as one of the vendors supporting Visa Payer Authentication, based on the Visa 3-D Secure interoperability standard. Visa Payer Authentication, part of Visa’s Secure Commerce Program, is designed to provide a safer environment for consumers and merchants conducting electronic commerce. CardinalCommerce projects the cost of fraud from online transactions to be $60 billion per year, by 2004, and is a significant obstacle to the growth of Internet commerce. This holds true both for consumers who lack confidence in the security of their personal financial information and for merchants who absorb the high cost of fraudulent transactions.
“We are honored that Visa has recognized us as a partner in helping Payer Authentication become a reality,” stated Michael A. Keresman, III, the CEO of CardinalCommerce. “Together, with Visa, we have a solution that both merchants and consumers can easily use. Our platform works with multiple authentication technologies, and guarantees the safety of transactions in all distribution channels.
“CardinalCommerce’s secure transaction platform offers an effective option to Visa’s Member banks that are implementing the Visa Payer Authentication Service,” said Jim McCarthy, senior vice president at e-Visa, a division of Visa U.S.A. “Visa is working with several technology partners like CardinalCommerce to help banks and e-Merchants better secure cardholder information online, giving consumers a better online experience and merchants increased sales volume.”
Unique among authentication technology products, CardinalCommerce’s system centralizes the authentication point for both the issuer and consumer. The universal platform interfaces with the top e-merchants on one side of the transaction process and with all card association networks on the other side. Notes Keresman, “What we have developed enables consumers to go to one central point electronically, authenticate themselves, and then continue on with e-commerce, medical records transfer, on-line voting, etc. The platform can be deployed in the face-to-face world as well, enabling the consumer to leverage one device for all their transactions.”
About CardinalCommerce Corporation:
CardinalCommerce Corporation has developed an authentication system to ensure that individuals, businesses and government agencies can process electronic transactions and access confidential information safely, securely and privately. CardinalCommerce’s system is technology neutral in that it can read multiple authentication technologies such as smartcards, digital certificates, biometrics and many others. Founded in February 1999, CardinalCommerce has raised $6 million in investment capital. For information on credit card fraud, statistics and other industry data or to learn more about CardinalCommerce and their technology visit their website atDetails