More than 2,200 Canadian Internet Merchants join the MasterCard® SecureCode™ Global Program
Toronto, June 7, 2006 – MasterCard International (NYSE:MA) today announced that more than 2,200 merchant customers of online payment processor InternetSecure are now participating in the MasterCard® SecureCode™ program, a global e-commerce security solution for merchants and financial institutions. MasterCard SecureCode enhances the security of current MasterCard accounts by using a secret code to protect against unauthorized use of the MasterCard card when shopping online at participating merchants and retailers.
MasterCard SecureCode addresses three of the most pressing issues in e-commerce today: lingering cardholder concerns about the safety of online shopping; issuers’ need to remotely authenticate their cardholders while shopping online; and Internet retailers’ desire to ensure a payment guarantee.
“With the addition of MasterCard SecureCode, consumers can enjoy added protection while shopping online,” said Kevin Stanton, President, MasterCard Canada. “Just like putting on a seatbelt in a car, entering your MasterCard SecureCode will soon become a standard practice when conducting online transactions with your MasterCard card.”
Much like the familiar authentication process required for payment card use at Automated Teller Machines (ATMs), MasterCard SecureCode requires cardholders to enter their personal code in an online window on their PC before their payment can be completed. With this simple step, cardholders can be confident their account is protected, and card issuers and retailers gain greater assurance about the identity of the person completing the transaction.
“We’re delighted to be able to offer our customers’ MasterCard SecureCode,” said Rick Nugent, Chairman and CEO, InternetSecure. “We are constantly looking for ways to help our merchants improve their online businesses. With SecureCode, we can offer advanced security features that bring positive benefits to both the merchant and their customers.”
“Implementing SecureCode is a win for both the online buyer and seller,” added Stanton. “SecureCode increases the shoppers’ confidence in the retailer, and merchants are guaranteed payment for their transactions.”
The MasterCard SecureCode program continues to generate significant worldwide momentum. As of May 2006, there were more than 3,000 financial institutions enrolled in the MasterCard SecureCode program on a global basis. In addition, more than 77,000 merchants are now participating in the program. For a listing of participating financial institutions and retailers, please visit http://www.mastercard.com/securecode.
About MasterCard International
MasterCard International (NYSE:MA) advances global commerce by providing a critical link among financial institutions and millions of businesses, cardholders and merchants worldwide. Through the company’s roles as a franchisor, processor and advisor, MasterCard develops and markets secure, convenient and rewarding payment solutions, seamlessly processes more than 16 billion payments each year, and provides industry-leading analysis and consulting services that drive business growth for its banking customers and merchants. With more than one billion cards issued through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories, and is a partner to 25,000 of the world’s leading financial institutions. With more than 24 million acceptance locations worldwide, no payment card is more widely accepted than MasterCard. For more information go to www.mastercardinternational.com.
From its base in Oakville, Canada, InternetSecure is the heart of a vibrant online world, supporting online credit card transactions for businesses, associations, not-for-profits and charities, government and government agencies selling to customers in over 175 countries around the world. InternetSecure, an affiliate of Nova Information Systems, a wholly owned subsidiary of U.S. Bancorp (NYSE: USB), offers merchants one of the largest most reliable payment processing networks in North America. Major clients include HydroOne, AOL Canada, Weight Watchers, and Nokia Canada.