Visa and MasterCard SecureCode(tm) programs for Internet payments.
card payment transactions on behalf of SBM web merchants. With the
losses. The inability to identify the cardholder is a major cause of
Internet card fraud. PayWare MPI uses the 3D secure protocol. This
required when shopping in the high street.
testing with Visa International. PayWare MPI is a standalone Merchant
independently by an acquirer with an existing in-house payment gateway.
"We are very pleased with the upgrade by Trintech of our acquiring
systems to support Visa and MasterCard's latest eCommerce standards,"
said Sailesh Sewpaul, Team Leader, Customer Service at State Bank of
Mauritius. "It is extremely important for all acquirers to work
towards eliminating Internet fraud. With the help of the Trintech team
we are confident that our PayWare solutions meet the industry's highest
security requirements."
"Authentication of identity remains one of the greatest challenges
facing the growth of online commerce today" said Tom Trainor, EVP of
Sales at Trintech. "The introduction of 3-D secure represents a
significant initiative by the banking community to combat fraud in
card-not-present purchases. State Bank of Mauritius is leading the
charge to eliminate merchant fraud. Trintech's PayWare Acquirer has
been efficiently and securely processing eCommerce transactions at
SBM's headquarters since February 2001. The installation of PayWare
MPI will ensure that SBM is now further protected against online
fraud."
About PayWare MPI
Trintech's PayWare MPI is a standalone Merchant Plug-in that supports
3-D Secure - the authentication protocol used by Verified by Visa and
MasterCard SecureCode. The product is targeted at Acquirers and
Payment Service Providers who wish to provide hosted 3-D Secure
authentication services to their merchants. PayWare MPI can both
complement Trintech's existing PayWare Acquirer gateway, or can be
used independantly by an acquirer with an existing in-house payment
gateway.
About State Bank of Mauritius
State Bank of Mauritius Ltd (SBM) Group is an integrated financial
services group - formerly known as The State Commercial Bank Ltd -
which began operations in 1973. SBM has continuously improved its
operating efficiencies and is today recognized as a dynamic, sound
and innovative group. SBM has a modern Information Technology (IT)
structure coupled with a flexible but flat structure and with a
customer-friendly business model that enables it to be most
efficient, with the lowest cost to income ratio in the Mauritian
banking industry. The Group has transformed from a bank that was
100 percent manual in 1989 to a fully automated real-time online
bank with over 93 percent of its eligible transactions conducted
through electronic channels.
SBM has three lines of business: Personal Banking, Business Banking
and Treasury, which it services through a network of 42 domestic
Service Units, 87 Bank's ATMs, coupled with Internet banking, PC
banking, e-commerce and over 1,000 Bank's POS terminals. SBM enjoys
a large market share in most banking segments, with a particular
emphasis in retail banking.
About Verified by Visa
Verified by Visa protects Member banks and e-merchants from the
costly effects of fraud. The service enables issuing banks to
verify the identities of cardholders, in real time, prior to
authorizing charges or debits for online purchases. The service is
complementary to Visa's Zero Liability policy, which protects
consumers by eliminating their liability for fraudulent purchases.
Verified by Visa goes one step further - preventing fraud from
occurring in the first place.
About MasterCard SecureCode
MasterCard SecureCode is an issuer-based security scheme that
takes advantage of MasterCard's UCAF infrastructure to protect
against fraud in an online transaction. MasterCard and Maestro
issuers can enjoy the simplicity of a completely client-less
architecture with no additional software and no download required.
Under MasterCard SecureCode, a cardholder's identity can be
confirmed using a variety of methods including passwords, smart
cards, and other methods that provide for cardholder mobility
without sacrificing security.
About Trintech
Trintech is a leading provider of transaction management and payment
infrastructure solutions to financial institutions, payment
processors, enterprise retailers and network operators globally.
Built on over 15 years of experience, Trintech's solutions manage
each area of the payment transaction cycle from authentication,
authorization, settlement, dispute resolution and reconciliation -
enabling our customers to reduce transactions costs, eliminate
fraud, minimize risk, maximize cashflow and increase profitability.
Trintech can be contacted in Ireland at Trintech Building, South
County Business Park, Leopardstown, Dublin 18 (Tel: +353-1-207-4000),
in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001
(Tel: +1-972 701 9802), and in the UK at 186-192 Darkes Lane, Potters
Bar, Hertfordshire, EN6 1AF (T: +44 (0) 1707 827000 and at
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