Press Releases 2002
CTL and JCB relationship
reaches milestone
First FRAUDGUARD licence in Russia
CTL's FRAUDGUARD to protect largest Middle East issuer
Visa selects CTL to process prepaid cards
Card Tech Limited leads the way in
MasterCard’s IPM programme
CTL SENTRY
- successful completion of 3-D Secure
Vendor Compliance Testing
CTL and Hatton
National Bank exceed expectations
CTL's
FRAUDGUARD system complies with
Visa's fraud mandates
PrivatBank
issues 1,000,000th bankcard on
CTL PRIME system
More
than 35 leading technology vendors, including CTL,
license MasterCard's global
solution for secure
online payments
CTL sponsors South
Eastern European conference
Click here for 2001 press releases
CTL and JCB
relationship reaches milestone
Press Release – from the CTL
Press Office, November 28th 2002
Card Tech Limited has successfully concluded a licensing agreement with JCB for its PRIME Acquirer solution. PRIME will replace existing CTL solutions at JCB's merchant acquiring processing centres in Hong Kong, Italy, Switzerland and the United Kingdom.
This year marks the tenth anniversary of CTL's relationship with JCB; the payment association recently reached the milestone of deploying CTL message switching and merchant management solutions at forty locations worldwide.
Card Tech Limited has more than 150 banking clients in sixty countries and all of the major payment associations have certified its systems.
First FRAUDGUARD
licence in Russia
Press Release – from the CTL
Press Office, November 22nd 2002
Card Tech Limited has successfully concluded a licensing agreement with International Moscow Bank (IMB) of Russia for its rule-based FRAUDGUARD product. This is the first FRAUDGUARD licence concluded in Russia; it is a testament to the bank's drive to offer the very best service to its clients.
FRAUDGUARD will use bank-defined rules to detect and manage fraudulent transactions for all IMB cards. While FRAUDGUARD can be used as a stand-alone issuing and acquiring product, IMB, which has been a CTL client since 1994, will use FRAUDGUARD in conjunction with its CTL PRIME card and merchant management solution.
CTL has more than 150 banking clients in 60 countries and all of the
major payment associations have certified its systems.
CTL's
FRAUDGUARD to protect largest Middle East issuer
Press Release – from the CTL
Press Office, October 10th 2002
Card Tech Limited has successfully concluded a licensing agreement with the largest issuer in the Middle East, Al Rajhi Banking Corporation of Saudi Arabia, for its FRAUDGUARD system.
FRAUDGUARD will provide fraud monitoring and alert management for the bank's two million issued MasterCard and Visa cards, as well as for its acquiring business.
CTL has more than 150 banking clients in 60 countries and all of the
major payment associations have certified its systems.
Visa selects
CTL to process prepaid cards
Press Release – from the CTL
Press Office, September 2nd 2002
Card Tech Limited has been selected by Visa to provide a processing solution for Visa prepaid cards. Under the agreement, Visa will promote CTL's processing solution for the prepaid card programme to its members in the CEMEA region.
Members can enter the prepaid market quickly and have a competitive advantage without the time and expense of modifying their own in-house systems. The CTL system is flexible and can be configured to meet Members own specific requirements. Members can configure the system to issue all types of prepaid cards aimed at different market segments. Visa and CTL have predefined five popular types or prepaid cards: Teen, Gift, Travel, Payroll and Money Transfer.
This agreement does not cover the licensing of CTL's software. Members who are interested in licensing CTL software are free to negotiate directly with CTL. CTL provides card management solutions to more than 160 banks in 60 countries.
Contact: Malek Mroueh or Jason Tymms, Tel: +44 20 7761 7800, email: sales@ctl.com.
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Tech Limited leads the way in MasterCard’s IPM programme
Press Release – from the CTL
Press Office, August 23rd 2002
Card Tech Limited successfully completed its third MasterCard IPM implementation in the Middle East region. All three implementations – at National Bank of Dubai, National Bank of Abu Dhabi and Qatar National Bank – were completed on time and budget. Card Tech Ltd was awarded in May 2002 a special award from MasterCard on its IPM work.
Card Tech has more than 150 banking clients in 60 countries. All the
major Payment Associations certify the Company’s systems.
CTL
SENTRY – successful completion of 3-D Secure Vendor Compliance Testing
Press Release – from the CTL
Press Office, July 2002
Card Tech Limited, a leading provider of card and merchant management solutions, proudly announces that it has successfully completed all the necessary requirements of the Visa's 3-D Secure Vendor Compliance Testing Programme.
CTL SENTRY Merchant Payment Plug-in (MPI) and CTL SENTRY Access Control Server (ACS) are therefore compliant with the Visa 3-D Secure protocol version 1.0.1.
CTL SENTRY is a comprehensive suite of authentication and payment processing solutions that enable issuing and acquiring banks to provide secure Internet payments to their cardholders and merchants. In addition to the 3D-Secure™ compliant CTL SENTRY MPI and CTL SENTRY ACS solutions, CTL SENTRY also offers a full range of value-added solutions such as a payment gateway, wallet server, virtual cards and proxy card numbers.
Built on leading-edge Web services technology powered by the Microsoft® .NET Framework, CTL SENTRY is backed by Card Tech’s vast experience in delivering flexible, modular based card and merchant management solutions to banks all around the globe. CTL SENTRY modules can be deployed as stand-alone solutions, integrated into the bank’s existing back-office environment, or as seamlessly integrated components for any of Card Tech Limited’s own range of PRIME solutions.
"CTL SENTRY is a winning proposition for everyone involved in
electronic commerce – cardholders, merchants and banks can all benefit
from the increased level of trust and security that payment
authentication can bring to the Internet”, said Jaffar Agha-Jaffar,
Managing Director of Card Tech Limited. “We have invested and are
continuing to invest in 3D Secure and SPA because we believe that it is
an important step towards ensuring that the Internet lives up to its
potential for electronic commerce”.
CTL and Hatton National Bank exceed expectations
Press Release - from the CTL
Press Office, May 2002
Hatton National Bank, using Card Tech Limited's latest technology, is launching a new and comprehensive payment system solution in Sri Lanka. CTL's PRIME card and merchant management system will enable Hatton National Bank to offer Web banking and secure e-commerce functionality for Hatna-Net, the bank's uni-banking facility.
CTL and Hatton National Bank have worked together since 1996, when CTL's CARDMAN card and merchant management system was first installed in Sri Lanka. Hatton National Bank is now upgrading to the latest PRIME system, which will include the innovative CTL SENTRY solution for e-commerce acquiring and secure Internet payments. These systems will significantly enhance the service offered by the bank's Hatna-Net facility, which will become one of the most impressive Internet-based banking facilities in the region.
Alvin Huang, CTL's Business Account Manager, said of this project, "We are delighted to be working with a bank as progressive as Hatton National. CTL's future proof systems support the new technological requirements of the bank's customers, and CTL's consolidated PRIME and SENTRY solution will integrate seamlessly with the bank's external systems."
Hatna-Net is designed to offer a wide range of online products, including e-commerce, m-commerce, fully automated banking kiosks, and automated mobile banking units equipped with ATMs via satellite communication links. In addition to the security benefits for Hatton National Bank and cardholders making payments online, Hatna-Net will offer the bank's clients a common platform for their Business-to-Business e-commerce transactions.
Mr Chandima Hemachandra, Head of Information Technology at Hatton
National Bank, has driven the bank's project with CTL. He sees it as an
investment in the bank's long-term relationship with its customers:
"We have embarked on a programme of product enhancement geared to
exceeding our customer's expectations well into the future. Card Tech
has provided a card management system that gives us the opportunity to
develop innovative and enduring bankcard products. It has also provided
for Hatna-Net the strong payment security features we demand for our
customers. Hatton National Bank has started an ambitious drive to
achieve excellence through technology. With continued support from CTL
and its systems we are confident of its success."
Card Tech Limited's FRAUDGUARD system complies with Visa's fraud
mandates
Press Release - from the CTL
Press Office, May 9th 2002
After reviewing CTL's FRAUDGUARD, Visa CEMEA Loss Prevention representatives confirmed, "…all the rules incorporated in the system comply with the Visa International Operating Regulations and also to the standards specified for the Visa CEMEA Region (section 2.6)."
Visa's CEMEA Loss Prevention representative saw the FRAUDGUARD system in operation at CTL's London processing centre. The system had recently been commissioned to support the FRAUDGUARD Service that is being offered to CTL's processing clients. The FRAUDGUARD system is one of CTL's newest products to emerge from a two-year research programme. FRAUDGUARD is available from CTL either as a service or as a licensed software system to help financial institutions in the battle to reduce the risk of bankcard fraud.
The system will seamlessly integrate with CTL's ONLINE authorisation system providing a real-time fraud monitoring capability. For those banks that require a real-time stand-alone solution, independent of their legacy authorisation host systems, a new variant of FRAUDGUARD will be released later this year, which will monitor the issuer traffic between their systems and the payment associations' access points. Finally, FRAUDGUARD is being enhanced to address acquirers' fraud concerns as well as the currently implemented issuer activity.
FRAUDGUARD allows banks to monitor authorisation requests on-line. This enables them to detect suspicious activity, alert the fraud officer in real-time and allow the fraud officer to manage the alert using case management tools. Detection is based on industry best-practice rules, in particular those released by the payment associations. Banks may augment the standard package by specifying their own rules. These could include payment association fraud monitoring messages, such as Visa's CRIS alerts. This customised configuration gives banks enhanced fraud detection capabilities plus full control over the fraud-monitoring environment. Banks can easily add, change or delete rules through FRAUDGUARD's user-friendly rules definition sub-system. The procedures to alter rules do not require programming skills. Indeed they have been designed so that, if authorised by the bank, the rules could be re-configured by the bank's own fraud officers.
The system works very simply. Once FRAUDGUARD detects a suspicious authorisation request, details are relayed in real-time to the Web browser workstation of the fraud officer. Alternatively the alert can be sent as an email or pager message to the fraud officer. Finally, the alert is placed into a case management utility, which tracks the actions of the case officer until the case is resolved.
"We are proud to be offering this innovative solution to the
market. Fraud is a growing concern for the industry and CTL's FRAUDGUARD
is well positioned to address those concerns. Our extensive research and
cooperation with financial institutions and payment associations has
resulted in a comprehensive and cost effective solution," said
Evelthon Patrickios, senior consultant at CTL.
PrivatBank issues 1,000,000th bankcard on CTL PRIME system
Press Release - from the CTL
Press Office, March 18th 2002
PrivatBank has announced the issuance of its 1,000,000th bankcard. This is a significant achie- vement for the bank and a milestone in the development of the bankcard business in the region. Card Tech Limited is pleased to be associated with this achievement, having provided the bank with card management systems from the beginning.
Indeed it was just over five years ago, in June 1996, that the bank launched its first Visa card at a press conference similar to this. Card Tech, having installed its Visa START card management system at the bank, also participated in that event together with Visa International. Visa START, which is a system developed by Card Tech and marketed by Visa International, is targeted to fulfil the needs of start-up and small issuing/acquiring banks. This system has been upgraded to include VSDC capability in partnership with Visa CEMEA.
Within a couple of years PrivatBank needed to upgrade their systems to respond to the growth in their card business, and chose Card Tech's PRIME system, which can handle more than a million cards. Not only are the base volumes large, but the peak authorisation traffic also exceeds 40 transactions per second all processed through Card Tech's system on a specially configured PC. The PRIME system is portable to bigger platforms should the volumes and cost benefit justify the investment.
Jaffar Agha-Jaffar, Card Tech's Managing Director, said: "Our relationship with PrivatBank is an example of Card Tech's ability to easily upgrade systems to meet new challenges. In the case of PrivatBank the challenge is their remarkable business growth. We are delighted to be working with PrivatBank, in the spirit of partnership, to help ensure the success of this important project for the bank."
Alexander Dubilet, Chairman of the Board, PrivatBank (Ukraine)
stated: PrivatBank has re-confirmed its leadership in the Ukrainian
card market by issuing 1 million cards. In 1996 PrivatBank became the
first issuer in Ukraine and now it is the first among Ukrainian banks,
who has reached the 1 million card barrier. We are pleased that the
partnership with Card Tech gave us the possibility to gain such results.
More
than 35 leading technology vendors, including CTL, license MasterCard's
global solution for secure online payments
Press Release - from MasterCard, March 18th 2002
Worldwide Momentum Builds for Secure Payment Application (SPA)
Utilizing MasterCard's
Universal Cardholder Authentication Field (UCAF)
Purchase, N.Y., March 18, 2002 -- MasterCard International today announced that 37 vendors have licensed its Secure Payment Application (SPA™) utilizing MasterCard's Universal Cardholder Authentication Field (UCAF™) infrastructure, enabling vendors to integrate the SPA security solution into new and existing platforms.
The powerful combination of UCAF and SPA authenticates the accountholder, generates and transports transaction specific evidence that a legitimate accountholder authorized the transaction and provides the basis for a guaranteed payment to online merchants.
MasterCard's SPA is an online security solution that generates a unique transaction token each time a registered accountholder conducts an electronic transaction. This token is referred to as the Accountholder Authentication Value (AAV). This 32-character value incorporates elements specific to the transaction and effectively binds the accountholder to a transaction at a particular merchant for a given sale amount.
MasterCard's UCAF is a standard, globally interoperable method of collecting accountholder authentication data at the point of interaction across all channels, including the Internet and mobile devices. UCAF is intended to provide the basis for a guaranteed payment to online merchants by presenting, collecting and passing cardholder authentication information generated by issuers. Once collected by a merchant and passed to their acquirer, this information is communicated to the issuer in the payment authorization request and provides explicit evidence that the transaction was originated by the accountholder. UCAF works with a myriad of security solutions, including SPA, smart cards and more.
"MasterCard collaborated with leading technology vendors to integrate SPA and UCAF into vendor platforms to create innovative online security solutions that will generate widespread global adoption," said Stephen W. Orfei, senior vice president, e-Commerce and eB2B Center of Excellence, MasterCard International. "By working closely with vendors that specialize in various security schemes from pseudo account numbers to chip technology, MasterCard is increasing wide industry support for the UCAF and SPA combination."
Vendors that have licensed MasterCard's UCAF and SPA combination represent industry leaders in the segments of pseudo account number, mobile commerce, chip and other e-commerce payment solutions.
MasterCard's members will benefit by having a secure online payment
mechanism that simplifies compatibility and interoperability issues and
keeps costs relatively low when new technologies or upgrades are
implemented. UCAF is designed to allow issuers to implement not only
SPA, but also their own security solutions, based on their security
needs and existing security architecture.
CTL sponsors South Eastern European conference
Press Release - from the CTL
Press Office, February 2002
Card Tech
Limited is sponsoring the 3rd South Eastern European conference on
e-Commerce, which takes place on 14th-15th March 2002, in Nicosia, Cyprus.
South Eastern European Digital Economy (SEED), the European Commission and the Government of Cyprus have undertaken the initiative to provide a forum for cooperation among industry, trade, governments and academia, with a view to moving faster toward a digital economy for the region. There will be eleven conference sessions, various workshops and an exhibition. Around 40 renowned speakers from both industry and academic communities are confirmed to attend.
Other objectives of this conference are to:
- stimulate and provide productive cooperation for the development of e-Commerce in the region;
- enable the transfer of know-how and identify practical ways and best regional and local practices for promoting and accelerating the process of developing e-Commerce;
- mitigate risks and obstacles in implementing e-business infrastructure in South Eastern Europe;
- provide investment opportunities in the region;
A full programme and an on-line registration form are available on the conference's website:
http://www.see-ecommerce.com.cy
Any other information may be obtained from the Press Office
Tel:
0044 (0)20 7761 7800
email: PressOffice@ctl.com
