First Data and Hagenuk Join Forces to Provide Advanced Solutions for Secure ACH Transactions
Companies to Showcase aSureteeSM Digital Signature Technology in Hagenuk's State-of-the-Art Smart Card Reader at CTST ShowCardTech SecurTech, Orlando FL, May 14, 2003 -First aSuretee, LLC, a First Data Corp. (NYSE: FDC) subsidiary, and Hagenuk USA, a leading innovator of secure smart card readers, today unveiled an Internet-based solution for Automated Clearing House (ACH) payment transactions. Combining Hagenuk's smart card readers with aSuretee digital signature capabilities, this new system integrates the essential building blocks for protected Internet ACH transactions. The system provides clear proof of user intent and protection against any form of unauthorized transaction. The First aSuretee/Hagenuk solution provides the business-to-business market with cost-efficient, highly secure ACH payment methods nationwide.
"The ACH network is now in use by more than 20,000 depository financial institutions, two million corporations and one-hundred-million consumers offering its users a cost-effective and efficient mechanism for exchanging payments", said Charlie O'Rourke, senior vice president at First Data Corp. "However, the adoption of Internet-based ACH transactions by institutions has been slowed because they were unable to prove the authenticity of users and transactions. Utilizing digital signatures, the First aSuretee/Hagenuk offering provides a powerful authentication solution for ACH users."
As part of today's announcement, Hagenuk will deploy First Data's aSuretee authentication chip in its secure FinSafe smart card reader to offer terminal authentication and transaction signing for highly secure financial and e-commerce applications. The aSuretee chip contains a public/private key pair and digital signature capabilities to replace handwritten signatures without significant changes to existing business processes. The aSuretee Account Based Digital Signature (ABDSSM) Solution is a simple and efficient method of enabling secure online transactions or replacing vulnerable username/password systems while reducing operational costs and increasing transaction security.
"Hagenuk's feature-rich FinSafe smart card terminal is a secure extension of the PC that provides a trusted environment for Internet transactions," said Kees-Jan Delst, CEO of Hagenuk USA. "By integrating First Data ABDS Solution capabilities within the Finsafe reader, we can now offer an efficient and easy-to-implement method for signatures in an online environment."
First aSuretee and Hagenuk will showcase their solution for secure payments and ACH transactions in booth 933 at the CTST show in Orlando, Florida May 12-15.
About First aSuretee (www.aSuretee.com)
First aSuretee LLC, a First Data Corporation company, offers products and services that provide simple and flexible solutions for today's complex electronic authentication requirements. First aSuretee's innovative technologies enable enterprises and government agencies to implement an Account Based Digital Signature (ABDSSM) Solution, a revolutionary authentication system that leverages existing business processes for authentication of users in any network environment. For more information, please visit www.asuretee.com.
About First Data Corp. (www.firstdata.com)
First Data Corp. (NYSE: FDC), with global headquarters in Denver, helps powers the global economy. As the leader in electronic commerce and payment services, First Data serves approximately 3 million merchant locations, 1,400 card issuers and millions of consumers, making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of payment. With 29,000 employees worldwide, the company provides credit, debit, smart card and stored-value card issuing and merchant transaction processing services; Internet commerce solutions; Western Union® money transfers services; and money orders; and check processing and verification services throughout the United States, First Data also offers a variety of payment services in the United Kingdom, Australia, Canada, Japan, Mexico, Spain, the Netherlands, the Middle East and Germany. Its Western Union and Orlandi Valuta money transfer agent networks include approximately 159,000 Agent locations in more than 195 countries and territories. For more information, please visit the company’s Web site at www.firstdata.com.
About Hagenuk (www.hagenukscs.com)
Hagenuk USA Inc is a wholly owned subsidiary of Hagenuk Smart Card Solutions, a company based in the Netherlands. The company has a long and successful history in the development and delivery of Smart Card terminals for financial transactions. The handheld Hagenuk Smart Card readers are widely used for Internet banking user-authentication in Europe. Hagenuk has recently introduced the FinSafe terminal, and a FinRead compliant terminal, as a new generation of PC peripherals that drastically improve security for online transactions. For more information, please visit www.hagenukscs.com.