Cyota and nCipher Strengthen Relationship to Deliver e-Payments Security Solutions
The companies to explore new directions and products for payments security in addition to Verified by Visa and MasterCard SPA
New York, NY and Woburn, MA (September 9, 2002) – Cyota, a leading payments security provider, and nCipher plc (LSE:NCH), a leading provider of cryptographic IT security solutions, have broadened their on-going relationship to establish tight integration between the companies’ respective products and to collaborate on future product initiatives in the market for secure e-payment solutions. Under the terms of the agreement, the companies have upgraded their partnership to a Strategic Alliance Partnership under the nCipher nAble Partner Program and are currently working together on new initiatives. The companies have already integrated nCipher’s nShieldÃ¢â€ž? Hardware Security Modules (HSMs) in the Cyota SecureSuiteÃ¢â€ž? platform and will also participate in joint sales and marketing activities.
The Cyota SecureSuite product line is designed to integrate a wide range of credit and debit card security solutions. Cyota SecureSuite provides support for various industry initiatives including Verified by Visa, MasterCard SPA and surrogate numbers and has been deployed to provide support for over 300 million cardholders in North America, Europe and Asia-Pacific. Cyota utilizes nCipher HSM devices within its SecureSuite platform to achieve enhanced levels of security, satisfying the Federal Information Processing Standard (FIPS) 140, and provide greater processing performance. Customers, including TSYS, one of the largest payment processors in the world, have deployed this combined solution either by taking advantage of hosted services or building in-house systems directly in the card issuer’s or processor’s data center.
“Cyota and nCipher are sensitive to the security needs of our joint clients. When working with financial institutions, security is a top priority and by working closely together we can ensure that their security requirements will be met” commented Amir Orad, Vice President of Marketing and Business Development at Cyota. “We value our relationship with nCipher as a long term partner and expect nCipher HSMs to be used in Cyota SecureVbV installations. In the future we plan to explore further joint opportunities, for example a MasterCard UCAF validation offering utilizing Cyota’s SecureMPA software.”
“As a specialist provider of hardware security devices to support a variety of software applications that rely on cryptography it is important that we work closely with the leading software companies in our target markets” said Greg Dunne, senior vice president of North American sales for nCipher. “We are excited to expand our relationship with Cyota as part of our commitment to the payments industry and look forward to exploring new ideas and solutions together.”
About Cyota Cyota is the leading payment security provider for financial institutions. Cyota currently powers 80% of the Verified by Visa eligible cards in the US, and has systems available to over 300 million cardholders North America, Europe and Asia-Pacific. Cyota SecureSuite is the only integrated payment security platform, designed to seamlessly integrate a wide range of credit and debit card security solutions including Verified by Visa, MasterCard SPA, surrogate numbers and more, into a single, consistent and cost-effective solution. Founded in 1999, Cyota is headquartered in New York with offices worldwide. Cyota is led by a respected management team with extensive experience in the security, Internet and banking industry. For more information please visit www.cyota.com
nCipher is redefining cryptographic security to protect points of risk across the enterprise—from network appliances to Web servers, to custom software applications and back-end databases. nCipher provides hardware and software solutions that enable organisations to implement best practice security by addressing the challenges of cryptographic key management and performance. Many of the world’s leading organisations—from Microsoft and Barclays Bank to PwC and the U.S. Navy—rely on nCipher to deliver a sound e-security infrastructure. nCipher’s products are particularly well suited to organisations with high volumes of security-sensitive transactions, such as banking and financial institutions, government departments, e-retailers and online service providers.
nCipher is listed on the London Stock Exchange as a TechMARK 100 company (LSE:NCH) with offices in Cambridge, UK; Boston, New York, Paris, Hamburg, and Tokyo. For more information visit www.ncipher.com