insurance award 1998
First Atlantic Commerce wins Bermuda Government's Coveted Innovation of the Year Award for Technology
FAC honored for creatively using technology as a tool for innovation in e-commerce industry
Hamilton, Bermuda. April 30, 2008. First Atlantic Commerce Ltd. (FAC), a leading international multi-currency provider payment and risk management solutions, last week won the Bermuda Governments Ministry of Telecommunications and E-Commerce Innovation award FACS year line of solutions for consumer authentication.
Organizations around the world-class, private offshore financial centers, public and nonprofit sectors that are creatively using technology as an innovative tool in the industry appointed were appointed under various categories, including: better interactive experience, Best Local Website, Most Inspiring Technology Teacher, Best Business Solution Using Technology, Best Service Customer Service, Technology in the environment, the most innovative and superior Sponsor Innovation of the Year category.
Bermuda Telecommunications and E-on Minister of Trade, the Hon. Terry E. Lister, and Dion Tucker, Vice President of IT in sponsoring the event and the insurance and reinsurance giant, RenaissanceRe, presented crystal trophy award for Innovation of the Year to FAC CEO, Andrea Wilson TechAwards luncheon held on Friday, April 25th, 2008 at the Fairmont Hamilton Princess.
On the basis of criteria including a truly innovative technology solution that is commercially in use in Bermuda and the use of infrastructure based in Bermuda and / or resources, the Companys winning piece had to be a true showcase of the island, according to a panel of judges representing the private and Government of Bermuda.
FAC innovation involving the application of a single independent Verified by Visa and MasterCard SecureCode cardholder "authentication only "solution designed for the growing Mexican market for online businesses, including airlines, hotels and large retailers.
Labor together with Latin America's largest credit card company processing, FAC implemented only the authentication component of the consumer card associations 3-D Secure payment solution completely, allowing the acquisition of local banks to determine liability for their merchants charge before authorization actual payment of the transaction, which is then made locally by the processors in Mexico. This type of application 3-D Secure is unique in this market and shows FAC clearly award winning innovative capacity with respect to providing turnkey online consumer solutions to mitigate risk in emerging markets in the local credit card processing already exists.
As a result of this particular solution, the acquisition of Mexican banks and merchants can see an immediate reduction in online VISA and MasterCard credit card fraud by up to 85%.
Our Verified by Visa and MasterCard SecureCode solution only expected to significantly reduce credit card fraud for online merchants in Mexico and Latin America based on the rules governing Association Cards 3-D Secure online exchange of obligations of office, Wilson said.
FAC is currently one of the few companies in the Caribbean, Latin America that provides authentication of consumers and only risk custom solutions for acquiring banks and processors, plus a full suite of other online risk solutions, including services in North America Address Verification, CVV2 validation and consumer credit monitoring services card. FAC online payment and risk mitigation solutions are also compatible with PCI and certificate, and the willingness of banks and processors in other regions, like Europe and Asia CEMEA.
For more information on the approach to authentication FAC online consumers, banks and processors today should contact info@fac.bm or visit the Companys website target = "_blank"> www.firstatlanticcommerce.com.
About First Atlantic Commerce
Headquartered in Bermuda, and established in 1998 to create secure card based solutions Payment for electronic business, FAC provides powerful technology designed to work with most trading platforms, including Microsoft, UNIX, and Linux. FAC cGate technology offers service, flexibility and security to adapt to many business and bank acquirer requirements. Business solutions such as 3-D Secure Payer Authentication, IP Geolocation, Virtual Enterprises and multiple payment solutions based on the high seas are available in different international jurisdictions.
About the Author:
Headquartered in Bermuda, First Atlantic Commerce is ideally located for providing the sophisticated, integrated payment processing and support that leading online merchants and banks demand. Find out more about First Atlantic Commerce Online Payment Gateways.
Article Source: ArticlesBase.com – Fac Wins Bermuda Innovation Award
AIA 23rd Annual Agency Awards 1998
