Payments outfit Cyota has teamed up with Caradas, a provider of smart card management platforms, to provide an application security system for the Verified by Visa authentication initiative.
The integrated solution will allow card issuers to roll out a unified Verified by Visa solution that covers both their traditional magnetic stripe cards and the growing population of smart Visa cards. The solution combines Cyota's SecureVbV product with Caradas' Connexus VbV Client to enable card issuers to verify a cardholder's identity when shopping online.
The joint solution has been developed according to Visa International's 3D Secure Functional Specification Chip Card Authentication standard. It offers card issuers several options for integrating the Verified by Visa cardholder authentication requirement with authentication applications available through the smart Visa program.
The first roll out of the joint Cyota-Caradas solution will be launched during the first half of 2002.