Compaq, Visa Provide Security
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In a move aimed at securing e-commerce transactions in Europe, Compaq Computer Corp. today announced that it was chosen as the prime contractor to implement the IT solution for credit card firm Visa's pilot project in the Netherlands.
Compaq said it is supplying its Internet, iTP Payment Solution and Secure Electronic Transaction (SET) technology, designed to enable safe transactions on the Internet.
The iTP Payment Solution is an end-to-end SET 1.0-based software solution for electronic payment systems on the Web. The solution offers security, reliability, scalability and rapid access to the Internet, Compaq said. The iTP Payment Gateway-server, which processes the payment transactions for Visa, runs on a clustered Windows NT Server-based Compaq system.
"Compaq believes that SET will become one of the most important standards for secure credit card transactions on the Internet," said Chris Conway, EMEA Vice President of Compaq's Enterprise Computing Group.
Apart from the Visa project in the Netherlands, various Compaq noted SET projects that are running elsewhere in the world, include Danish Payment Systems (PBS); Telekurs in Switzerland; the US Treasury, Chase/Wall-Mart and the Mellon Bank in North America; and the China Trust Commercial Bank and Citibank in Asia.
According to Forrester Research, the market will be worth more than US$300 billion by 2002. Further information about SET-certified products can be found at SETCO.