Tieto and PetroCard implement 3-D Secure issuing solution for Visa cards

Tieto and the Russian processing centre PetroCard have implemented a 3-D Secure issuing solution for Visa payment cards, thus enabling PetroCard to provide banks with a safe service for online shopping.

During the project Tieto has implemented the Verified by Visa 3-D Secure authentication solution and assisted PetroCard in the certification process with Visa International.

3-D Secure is an online service designed to improve the safety of online transactions through cardholder identity authentication at the time of purchase according to Visa regulations. During the online payment, the cardholder is redirected to their card issuer bank website and requested to enter a special password. The implemented solution guaranties higher transaction security and increases cardholder trust in online payments, as well as raises the popularity and volume of online sales.

“The usage of 3-D Secure has become very popular as it helps to prevent fraudulent transactions using payment cards. Ensuring the security of internet payments supports the growth of online shopping and increases the use of payment cards. Using 3-D Secure solution, PetroCard is now able to help banks protect themselves as well as their cardholders by keeping sensitive data safe from unauthorized account withdrawals,” said Maris Ozolins, Director of Cards, Tieto Financial Services.

“The security of payments performed using a payment card is one of the key directions for PetroCard processing system. With 3-D secure we are ready to offer our customers comfortable and safe payments,” said Olga Terehova, Director, PetroCard.



TIETO CORPORATION

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Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers’ business transformation. At Tieto, we believe in professional development and results.

Founded 1968, headquartered in Helsinki, Finland and with approximately 15 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.8 billion. Tieto’s shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.

PetroCard, Saint Peterburg, independently develops and maintains hardware and software solutions for implementation of payment technologies since 1998. The company’s clients are 9 banks and processing centers.

PetroCard has been certified according to the standard of payment card data security PCI DSS - this confirms that the technology and policies used by the company comply with the strongest requirements of payment cards industry. Please visit www.petrocard.ru for more information.