Providians Verified by Visa and MasterCard SecureCode programs are in full production, and available immediately. The anti-fraud service is delivered by TSYS and powered by Cyotas SecureSuite, which is a component of TSYS CardGuard. Cyotas SecureSuite technology is the worlds leading Verified by Visa and MasterCard SecureCode solution, currently used by eight of the top 12 issuers in the United States and U.K. TSYS implemented Cyota SecureSuite in 2001, and has since delivered Verified by Visa and MasterCard SecureCode services to many of its global clients. SecureSuite powered the first commercial Verified by Visa program in December 2001, as well as the first commercial MasterCard SecureCode program in December 2002. Driven by ongoing innovation, Cyota provides global financial institutions with a wide range of security and anti-fraud solutions. Verified by Visa and MasterCard SecureCode authenticate cardholders at the point of purchase by prompting cardholders to enter a secret password before the Internet transaction is approved - similar to the familiar PIN thats required at an ATM. The new initiatives are designed to provide cardholders with an extra measure of security, thus increasing their confidence in online transactions, while participating issuers and merchants avoid the risk and expense of potentially fraudulent transactions.
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