Trintech Group PLC (Nasdaq:TTPA; Neuer Markt:TTP), a leading provider of secure electronic payment infrastructure solutions, and Visa International, today announced a strategic partnership to jointly develop the next generation of ePayment solutions to speed the global adoption of secure mobile commerce.
The alliance follows Trintech's announcement today of the launch of PayWare mAccess, the company's secure payment solution designed specifically for mobile devices, as well as a strategic collaboration with Phone.com. PayWare mAccess allows for "one touch" payment and real time authentication of user while shopping using mobile phones and other non-PC devices.
The partnership ensures that consumers can purchase from mobile devices with the assurance of the trusted Visa brand and secure, convenient technology from Trintech. By leveraging the form filling capabilities of PayWare mAccess secured with a secret PIN code, merchants and consumers can buy and sell with greater confidence. The two companies have committed to work together to extend the products capabilities to support stronger authentication mechanisms including smart cards and the SET Secure Electronic Transaction(TM) standard, with the aim of delivering guaranteed mobile commerce transactions to the benefit of consumers and merchants worldwide. In addition, the two companies have committed to promote industry-wide standards for this new medium, as well as building support for new payment types, such as PIN based debit.
Joe Chouinard, vice president, New e-Channels Development at Visa International, said: "This partnership with Trintech builds on the recent launch of the Visa Secure e-Commerce Initiative. It shows how we are working with key technology companies to provide higher levels of security and authentication for e-commerce users around the world. Trintech's server-based payment solution provides consumers with the ability to shop securely from a mobile device and provides merchants with the reassurance that they are dealing with legitimate cardholders."
"Confidence is all-important in securing electronic commerce and Issuers naturally want to manage the stronger cardholder authentication data necessary to provide truly secure commerce via wireless devices. By working with an industry leader such as Visa we are in a strong position to offer a solution that allows the telco and the Issuer to participate in enabling and securing mobile commerce," says John McGuire, CEO of Trintech. "This partnership of the leading card brand with the leader in payment technology paves the way for consumers, banks and merchants to engage in mobile commerce with the same confidence they have in physical world ePayments."
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