Sydney, March 1, 2002: GPayments, the Sydney-based Internet Payments company, has released a new product, ActiveMerchant, which promises to ease the burden of credit card fraud for online merchants. ActiveMerchant is a software-based security module that can be integrated with virtually any website. It provides the merchant with the ability to determine whether online payments are genuine prior to charging the customers’ credit card and shipping the goods.
Authentication
Authentication is the verification of a credit card owner made during a credit card purchase. In the physical world, authentication is achieved through a physical signature, which is manually checked at the point of sale. Until now there has been no widespread solution to the problem of online credit card fraud. Visa has introduced the Authenticated Payments Program to address this issue. Once ActiveMerchant is installed at a merchant’s web server, buyers who have registered for authenticated payments with their card issuer will be able to make secure online purchases. They will be able to authenticate their purchase using a password.
GPayments has been working closely with Visa since November 2000 on meeting the new global standard for online credit card payment authentication, 3-D Secure. The ActiveMerchant software has just completed a rigorous compliance testing process with Visa’s U.S.-based laboratory. ActiveMerchant is now a fully compliant 3-D Secure Merchant Plug-in (MPI) certified by Visa for installation in all websites which accept Visa card payments.GPayments developed ActiveMerchant in Java so that it could work on virtually any platform and with any webserver that the merchant uses for their eCommerce site. It is expected that most merchants will be able to upgrade their website within a couple of days. According to GPayments’ CEO/CTO, Bahram Boutorabi, “ActiveMerchant was designed to allow merchants to get up and running with 3-D Secure as fast as possible. We have had merchants testing their first transaction within 15 mins of downloading the software.” Michael Kearney, Head of Business-to-Consumer, e-Visa Asia Pacific said, “Visa’s Authenticated Payment Program builds consumer confidence for online shopping by taking an extra step to authenticate cardholders and merchants. Together with our partners, Visa is eager to accelerate the development of secure online payment that will make Visa cards even more valuable to consumers. GPayments’ adoption of the program demonstrates the company’s commitment to make e-commerce a secure and convenient experience.”GPayments is the first Australian vendor to develop products for the new standard and meet the stringent compliance requirements for 3-D Secure, supporting banks in their participation in Visa’s Authenticated Payment program.
Background
GPayments
GPayments is focused on authentication and payment solutions for Internet transactions. It provides solutions for financial institutions (issuers and acquirers), merchants and cardholders. Over nine years of experience in Internet technology has positioned it as a leader in secure electronic commerce. GPayments has a full ePayments product suite including issuer authentication engines, electronic wallets, internet payment gateways and merchant plug-ins. GPayments’ products provide support for both Visa’s 3-D Secure and MasterCard’s SPA standards. Further information can be found at www.gpayments.com
Visa International
Visa is the world’s leading payments brand and the largest payments system worldwide. Visa-branded cards generate more than US$2 trillion in annual volume and are accepted at nearly 22 million locations around the world. The Visa organisation plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce -the ability to conduct commerce anytime, anywhere, over any type of device. Visit Visa at www.visa.com.
Media inquires
Bahram Boutorabi
Chief Executive Officer/Chief Technology Officer
GPayments +61 2 9913 3088
bahram@gpayments.com.au