
This time it's tougher on crime...
Published: 24 September 2001 18:18 BST
Payment systems specialist Worldpay has released a system to protect customers purchasing on the internet against fraud by pin-pointing the buyer's location.
The system is based on the Global Positioning system, commonly used in sea and air navigation to determine your own location within a few metres.
Worldpay is proposing its customers use the system to verify high value transactions between themselves and their suppliers.
The system, called Genesys, is an add-on which can be connected to the buyer's PC. Within the box are two chips, one of which encrypts transaction requests to Triple DES (data Encryption Standard).
The other chip simultaneously provides the buyer's exact location to prove that the transaction request is bona fide.
In a statement, Worldpay chairman and CEO Nick Ogden said: "This product takes internet transaction security to a completely new level. WorldPay has been supporting the checking of cardholder authenticity by verifying card numbers against the registered cardholder address and other details for some time now, but what Genesis does is verify the actual location in real time of the person or business making the purchase."
guarantees every transaction by vetting sellers, managing shipment of tickets and withholding payment to sellers until a buyer has safely received ...
Desirable Experience: - You will have an understanding and/or experience with as many of the following complementary technologies as possible : XSLT, ...
Transaction Services Project/Programme Manager, London, Global As part of a huge strategic Transaction Services expansion one of our Global Tier 1 ...
CIO50 2008
The silicon.com CIO50 2008 profiles the most influential and innovative tech chiefs in the UK across all industries and organisation size, from the biggest FTSE100 companies to high growth dot-com start ups and the public sector. The list was voted on by the UK CIO community and a panel of experts. Find out more in our latest special report.
Stories from the web...
Copyright ©1995-2008 CNET Networks, Inc. All rights reserved. Top of page
Peter Cochrane Peter Cochrane's Blog: Is convergence a fiction? Or could it finally be happening…
Clive Longbottom Quocirca's Straight Talking: A game of two halves Microsoft Virtualisation scores while its SOA bores...