TSYS Selects Cyota to Expand Global Payment Product Offerings
TSYS to Provide Web Hosting Services for Cyota
Columbus, Ga., Oct. 24, 2001 - TSYS® today announced an agreement with Cyota, a leading Internet payment and security technology provider, to offer its clients a full range of Cyota SecureSuiteTM technologies, providing them access to a modular platform that supports current and emerging secure payment initiatives. TSYS will provide managed hosting services for this partnership as well as Cyota’s non-TSYS clients. The partnership enhances TSYS’ strategies of expanding its core services and capitalizing on e-business opportunities, providing financial institutions with a superior advantage in the fight against Internet fraud.
Initially, TSYS will deliver a hosted 3DSecure (Verified by Visa) solution, Cyota SecureVbVTM, which will enable Visa card issuers to validate the identity of their cardholders in real time, during online payment transactions, resulting in increased online sales and reduced disputes and fraud. Cyota was among the first companies named as a vendor supporting the Visa Payer Authentication Service, based on the 3-D Secure Interoperability Standard. TSYS is making SecureVbV available to all clients, enabling them to comply immediately with Verified by Visa. At a later stage, these clients can add other SecureSuite products as consumer demand and association mandates evolve.
SecureSuite is a modular online payment security platform designed to support a wide range of authentication and credit card security products while providing a unified user experience. SecureSuite includes Visa Payer Authentication (3D Secure or Verified by Visa) and MasterCard SPA-compliant products, as well as Cyota’s proprietary SecureClick — an innovative solution that enables cardholders to shop online without revealing their real credit card numbers by issuing a surrogate number for every purchase.
"We chose Cyota because of its market focus and technology expertise," said TSYS Group Executive Andy Marks. "We were pleased with the ability of SecureSuite to allow our clients to quickly implement Internet security solutions with minimal impact. TSYS always strives to provide its clients with cutting-edge technology designed to improve their business and their bottom line, and Cyota will help us deliver."
"SecureSuite delivers a plug-and-play solution that is in great demand in the U.S. and Europe," stated Naftali Bennett, President and CEO of Cyota. "Cyota’s products are designed to address the needs of our market. We are pleased to partner with TSYS and provide its issuers access to our superior technology, intuitive user interfaces and live implementation experience. This agreement further strengthens our global industry leadership."
About TSYS
TSYS brings integrity and innovation to the world of electronic payments. TSYS serves as the integral link between buyers and sellers in the rapidly evolving universe of electronic payments. With more than 200 million accounts on file, TSYS makes it possible for millions of consumers to use their credit, debit, stored value, commercial, chip and retail cards any time, anywhere through any medium or portal. TSYS offers a full range of acquiring and issuing services from accepting electronic payments for goods and services, to credit applications, collections and bankruptcy. Based in Columbus, Ga., TSYS (NYSE: "TSS") (www.tsys.com) processes for 23 countries in 14 currencies and four languages and maintains operations in Canada, Mexico, Japan and the United Kingdom. TSYS is an 80.8 percent-owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com), No. 8 on FORTUNE magazine’s list of "The 100 Best Companies To Work For" in 2001. For more information, contact news@tsys.com.
About Cyota
Cyota is a leading payment security company that is dedicated to helping financial institutions strengthen their customer relationships through reliable, flexible, easy to use payment security products. Cyota SecureSuite is a revolutionary platform designed to serve as the backbone for integrating numerous e-payment initiatives. Cyota services multiple clients in North American and worldwide. Founded in 1999 by leading card and security industry experts, 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 and is supported by an international Advisory Board comprised of world-renowned financial and security experts. For more information, please visit our website at www.cyota.com.
Contacts:
Rebecca Stringer
Sr. Communications Specialist
TSYS
ph. 706.649.7193
rstringe@tsys.com
Beatriz Garcia
Director Marketing & Communications
Cyota
ph. 212.977.5402, ext. 170
beatriz@cyota.com