Bank of Ireland announced that it has chosen Trintech Group PLC to supply it with Europe’s first virtual credit card application. Bank of Ireland plans to deploy Trintech’s PayWare eIssuer technology to its cardholder base for more secure and convenient e-commerce purchasing. The deployment of Trintech’s technology is an integral part of Bank of Ireland’s recently announced BOIe e-commerce strategy. Bank of Ireland is also the first bank to deploy the virtual credit card technology as part of Trintech’s global partnership agreement with MasterCard International.
Trintech’s PayWare eIssuer solution has been specifically designed to meet the stringent requirements of customers and banks to enhance the security of transactions conducted through electronic channels, such as the Internet. PayWare eIssuer addresses risk management by providing Bank of Ireland with the opportunity to authenticate and authorize the cardholder before the transaction is conducted. This improves risk management for the bank every time consumers use their digital cards.
PayWare eIssuer also provides Bank of Ireland with a sophisticated relationship tool that downloads the bank’s brand directly to the cardholder’s desktop and is reinforced every time the cardholder goes shopping. Bank of Ireland will brand its virtual payment card as Bank of Ireland “Net Guardian”, providing both enhanced security and convenience. The Net Guardian solution uses a “drag-and-drop” process to automatically fill a merchant website purchasing form.
Bank of Ireland rolls out PayWare eIssuer
“After an extensive evaluation process, we concluded that PayWare eIssuer from Trintech brings Bank of Ireland innovative payment solutions for the world of eCommerce that are unrivalled by any other company in the market today,” said Billy Saunderson, Head of Card Services, Bank of Ireland. “The infrastructure solution provided by Trintech underpins key elements of our BOIe eCommerce program to achieve market leadership in electronic payments and provides our customers with open global standards that are simple and convenient to use when transacting online. Cardholders will now be able to use their cards with the knowledge that their MasterCard/Visa card information is totally secure.”
“We share Bank of Ireland’s vision in bringing both convenience and security to the world of eCommerce,” said Cyril McGuire, Chairman of Trintech. “Our technology will provide Bank of Ireland with the secure payment infrastructure to help them achieve their eCommerce goals. Keeping the Internet payment experience both secure and convenient is key to developing confidence and ramping adoption in this emerging business channel.”
About Bank of Ireland
The Bank of Ireland headquarters is in Dublin, Ireland and its operations extend geographically throughout Ireland and in the United Kingdom. At present, the Group has the fifth largest market capitalization of Irish companies listed on the Irish Stock Exchange. The Group provides a broad range of financial services in Ireland to the personal, commercial, industrial and agricultural sectors. These include checking and deposit services, overdrafts, term loans, mortgages, international asset financing, leasing, installment credit, debt financing, foreign exchange facilities, interest and exchange rate hedging instruments, executor, trustee, stockbroking, life assurance, investment fund management, fund administration and custodial services, and financial advisory services, including mergers and acquisitions and underwriting. The Bank of Ireland can be reached on the Web at [www.bankofireland.ie].
Trintech Group PLC is a leading provider of secure electronic payment infrastructure solutions for real world, Internet and wireless transactions. The company, which was founded in 1987, offers a complete range of payment software products for credit, debit, commercial and procurement card applications. Trintech’s secure product range is deployed in over 35 countries worldwide and cover the payment requirements of consumers, card issuing banks, merchant acquiring institutions, merchants, eMerchants, telcos, wireless operators, ISPs/CSPs, Portals and large corporations. Trintech’s range of scalable, open systems architecture solutions for UNIXÂ® and Windows NT? platforms covers consumer, merchant and financial institution requirements for all card-based payments, including e-commerce and the emerging world of mobile 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 [http://www.trintech.com]. Investor information can be found at [www.trintech.com/investor].