Arcot Systems' ePayment Authentication Solution Selected by SBI Cards to provide Secure Internet Shopping for its Cardholders
Sunnyvale, California and Mumbai, India – March 16, 2009 — Arcot Systems, Inc., the leading provider of secure e-Payment and authentication solutions, today announced that SBI Cards, one of India’s leading credit card issuers, has selected the Arcot 3-D Secure compliant authentication solution to help protect their cardholders from internet fraud while shopping online. By implementing the Arcot market-leading consumer authentication solution for Internet card transactions, SBI Cards is taking the lead in implementing anti-fraud measures for their customers. Deployment of the Arcot TransFort™ 3-D Secure solution will dissuade unauthorized use of credit and debit cards for Internet transactions resulting in improved protection from identity theft. Moreover, online retailers who participate in the 3-D Secure authentication protocol are now assured added protection against fraudulent charge backs from SBI Cards transactions.
Mr. Diwakar Gupta, CEO, SBI Cards said, "Protecting our customers from fraudulent transactions or identity theft is of utmost importance to us. With this deployment, we hope to provide our customers with a more secure transaction platform making it easier for them to use their credit cards for online transactions".
Arcot is the de facto standard for card authentication and fraud reduction for both issuers and merchants. Arcot pioneered the use of the 3-D Secure protocol with Visa in 2000, creating a simple yet effective way to protect against fraudulent online transactions. All three major card brands use this protocol in their cardholder authentication programs: Verified By Visa™, MasterCard® SecureCode™, and JCB J/Secure.
"Arcot has been in the business of installing and supporting 3-D Secure for nearly nine years," said Sanjay Vyas, Vice President of Worldwide Services for Arcot. "We know how to get the solution up and running quickly, and our robust system processes nearly one hundred million consumer transactions each year. There are several companies who claim 3-D Secure expertise, but only Arcot has the practical implementation experience, the industry knowledge, and the in-depth technical understanding of the protocol necessary to install and properly support the platform for maximum efficiency, scalability, and reliability."
There are currently over 12,000 issuing banks, 200,000 online merchants and 30 million active cardholders using Arcot 3-D Secure solutions worldwide.
About Arcot
Arcot authentication and digital signing solutions make online access safe for millions of consumer, enterprise and ecommerce users. With Arcot solutions, organizations can automatically and transparently deploy stronger authentication and fraud detection without changing user behavior or deploying expensive hardware. Arcot authentication provides protection from internet threats bridging the gap between cost, convenience, and strength. Arcot fraud prevention, strong authentication, and eDocument security solutions are delivered on-premise or on-demand as an Arcot hosted service. Arcot solutions comply with U.S. and international security standards including 3-D Secure, CardSpace, FFIEC, OpenID, SAFE, and SAML.
For more information visit www.arcot.com.
|
