DALLAS and DUBLIN, Ireland, March 2, 2005 (PRIMEZONE) -- Trintech launches PayWare Merchant MPI, a secure online card payment transaction solution helping to reduce fraud and improve customer confidence to buy on the Internet.
Trintech Group Plc (Nasdaq:TTPA) (Prime Standard: TTP), a leading provider of transaction reconciliation and payment infrastructure solutions, today announce PayWare Merchant MPI, a powerful 3D Secure ecommerce authentication solution for merchants, providing secure Internet card payment transactions between the cardholder and card issuer. Trintech's robust and powerful offering enables Internet merchants to migrate to a 3D Secure environment by providing a secure and easy-to-deploy merchant plug-in (MPI) solution on their existing online authorization solution.
With the growth in Internet card payments, fraud on the Internet is rising steadily over many years. The implementation of chip-based payment cards, coupled with PIN verification, is likely to add to this problem as fraud migrates away from retail environments to the Internet as fraudsters and criminals start to target less secure environments.
MPI works seamlessly with PayWare Merchant, Trintech's online authorization solution to provide a complete card payment processing solution for Internet merchants. Visa and MasterCard's 3D secure services known as Verified by VISA(TM) and MasterCard SecureCode(TM), work with PayWare Merchant MPI, which is the module that enables the card issuer to validate the customer, prior to completing the transaction. The card schemes offer attractive incentives for merchants opting to accept 3D Secure transaction by offering protection against the liability for fraudulent transactions.
"Now the January 2005 Chip and PIN deadline is in place, there is likely to be a considerable shift from retail based card fraud to alternative sales channels where cards are not present (CNP), in particular Internet based transactions," says Eamon Keating, General Manager of Trintech's Payments Division. "Our Chip and PIN solution has helped many retailers to protect themselves against fraud and we expect our Merchant MPI solution to do the same for Internet merchants."
Benefits for merchants adopting PayWare Merchant MPI include accepting payments safely and securely, reduced fraud and charge backs even when customers are not enrolled in the schemes. Implementation will also lead to improved consumer confidence in online transactions and the increase in internet sales by promoting safe online purchasing.
Features of PayWare Merchant MPI
* Supports both Verified by VISA(TM) and MasterCard SecureCode(TM)
* Supports the latest standards for 3D Secure (version 1.0.2)
* Supports multiple currencies
* Intuitive web-based configuration and administration
* Full access to authentication history and comprehensive reporting
* Single server or multiple server deployment
* 'Cluster-ready' for high availability and performance
* Easy integration with merchant web site
* Secure data access using workgroups and privileges
* Seamless operation with PayWare Merchant for online authorization
and settlement.
About PayWare Merchant MPI
PayWare Merchant MPI is a standalone Merchant Plug-In that supports 3D Secure - the payer authentication system at the heart of Verified by Visa (TM) and MasterCard SecureCode (TM). Trintech's PayWare Merchant MPI has successfully completed certification and interoperability testing with Visa International. PayWare Merchant MPI authenticates the consumer by the entry and verification of a designated password or PIN prior to the completion of an Internet purchase. PayWare Merchant MPI step slots into the payment process before the normal financial authorization request is sent by the merchant to the acquirer. The 3D Secure protocol uses dedicated messages that flow over the Internet between the merchant, card scheme and issuer, outside of the network used for the financial authorization and clearing messages.
About Trintech
Trintech is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 18 years of experience, Trintech's solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation - enabling its customers to reduce transaction 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 2074000), 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 (Tel: +44 (0) 1707 827000). www.trintech.com.