Magazine article American Banker

Nabanco Picks Microsoft System for On-Line Payment Security

Magazine article American Banker

Nabanco Picks Microsoft System for On-Line Payment Security

Article excerpt

Nabanco, the top processor of credit card transactions for merchants, has become the first in that business to embrace Microsoft Corp.'s secure transaction technology for on-line credit card purchases.

The alliance is similar to one announced late last year by Visa U.S.A. and the Redmond, Wash.-based software giant. They are working jointly on a system to ensure the security of payments initiated over open computer networks.

Nabanco said the technology, using data encryption, is scheduled to be tested this summer. It will enable merchants to accept bank card payments from on-line sources such as the Internet and interactive television. The transactions would ultimately be integrated into the existing payment infrastructure, with heightened security.

Tom Johnston, product manager of advanced consumer technology at Microsoft, said Fort Lauderdale-based Nabanco will be able to roll out the software to its merchant clients by yearend.

While electronic purchases are not yet a major factor in credit card processing, "we're trying to be ahead of the curve," said Donald Y. Sharp, senior vice president of corporate communications at First Financial Management Corp., Nabanco's Atlanta-based parent company.

"There's a lot of talk about electronic payment activity," he said. "We want to be prepared to provide our customers with the opportunity if they need it."

Richard Lonergan, executive vice president of point of transaction for Visa U. …

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