Arcot and nCipher Partner to Enable Secure Online Payment Transactions
Integrated solution provides added security for “Verified by Visa” payer authentication service
Woburn, Mass., and Santa Clara, Calif., April 15, 2002— nCipher plc (LSE:NCH), a leading provider of cryptographic IT security solutions, and Arcot Systems, a leading provider of solutions for securing e-business, today announced a development partnership which combines nCipher’s nShield Hardware Security Modules (HSMs) with Arcot’s TransFort payment authentication solution. Providing secure payment authentication to financial service institutions, issuing banks, and a wide range of credit card and payment processor companies, the integrated products will provide Federal Information Processing Standard (FIPS) 140 approved security for sensitive cardholder data and online payment authentication processes.
In order to meet the new levels of security that customers, credit card associations and financial institutions require, online payment services are required to comply with best practice security standards and address a wide range of threat scenarios. To service this need, the integration of Arcot and nCipher products provides an additional level of security to Arcot’s TransFort payment authentication solution. As a security application, TransFort uses cryptography in a variety of ways to encrypt sensitive information and to create digital signatures to provide a record of authenticity for transactions and payment authorization. The integration of the nShield HSM establishes a safe, tamper-resistant environment that overcomes the inherent security flaws associated with handling sensitive information or performing secure processes on unprotected server platforms.
Typical of payment systems requiring this enhanced level of security are those that support the “Verified by Visa” initiative, Visa’s Internet payer authentication process. For example, the ability to secure smart card and conventional magnetic swipe credit card authentication data to the FIPS security standard enables Visa card issuers to protect the sensitive information and authentication processes upon which Verified by Visa is built.
Under the terms of the agreement Arcot’s TransFort solution will be integrated with nCipher’s FIPS 140 level 3 nShield HSM technology. This will allow the processing of encrypted customer data to be performed by Arcot’s software but take place within the boundaries of the nShield HSM, ensuring that sensitive data is never exposed to potential attackers. “For issuing banks and credit card processors the protection of consumer cardholder data is paramount,” said Chet Silvestri, president and CEO of Arcot. “With nCipher’s validated security solution and Arcot’s powerful TransFort payment authentication platform, these financial institutions are assured that they are getting a best-of-breed solution for protection against online card fraud.”
“Minimizing the exposure of sensitive, cryptographic authentication data from both internal and external threats is a critical requirement of a secure online payment solution. We are excited to be able to partner with Arcot to provide a solution that delivers the level of security our joint customers require,” said Greg Dunne, senior vice president of North American sales for nCipher.
About Verified by Visa
Verified by Visa is an Internet payer authentication service that adds greater online security to credit and debit card payments. The service enables participating card issuers to validate a cardholder’s identity through the use of a password during the online checkout process. This new password protection gives consumers greater control over when and where their card is used, further reducing the potential for unauthorized card use on the Internet.
About Arcot
Arcot Systems, Inc., is the leading provider of authentication and access control solutions for securing e-business in Internet-scale, transactional and wireless environments. Only Arcot provides cost-effective, scalable, software solutions based on the ArcotIDâ„? Software Smart Card for strongly authenticating users and transactions for payment systems, Web-based email, Web portals and virtual private networks. Arcot solutions meet the business need for strong transactional security while providing the customer a user-friendly experience with anytime, anywhere convenience. Leaders in financial services, healthcare, and e-commerce are using Arcot solutions to protect their customers’ privacy and reduce fraud. For more information, visit www.arcot.com.
About nCipher
nCipher is redefining cryptographic security to protect points of risk across the enterprise—from network appliances to Web servers, to custom software applications and back-end databases. nCipher provides hardware and software solutions that enable organizations to implement best practice security by addressing the challenges of cryptographic key management and performance. Many of the world’s leading organizations—from Microsoft and Barclays Bank to PricewaterhouseCoopers and the U.S. Navy—rely on nCipher to deliver a sound e-security infrastructure. nCipher’s products are particularly well suited to organizations with high volumes of security-sensitive transactions, such as banking and financial institutions, government departments, e-retailers and online service providers.
nCipher is listed on the London Stock Exchange as a TechMARK 100 company (LSE:NCH) with offices in Cambridge, UK; Boston, New York, San Francisco, Dublin, Paris, Hamburg, Hong Kong and Tokyo. For more information on nCipher, visit www.ncipher.com.