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| Petach Tikva, Israel, June 24, 2002
ARX, a leading developer of security solutions for Electronic Funds Transfer (EFT) transactions, announced today that it is going to supply authorization systems to Leumi-Card, a financial member of both Visa International and Mastercard International. The Leumi-Card deal is one of five deals made by ARX with the biggest banks and payment-card issuers in Israel, aiming at the migration of their current system to a new set of Hardware Security Modules. The total value of all five deals is estimated at about 2 million dollars.
ARX, which has just recently joined Mastercard International’s Vendor Program and VISA EU’s Chip Migration program, is engaged in the development of security and cryptographic solutions. ARX develops products which are part of these two major payment-card companies’ effort to reduce card fraud rate by replacing the traditional magnetic strip with chip-based cards.
Leumi-Card will be installing a number of PrivateServer/EMV, ARX’s Hardware Security Module, for the authorization of payment-card transactions by verification of the card Personal Identification Number (PIN). The servers will also be used for issuing chip-cards based on the EMV (Europay, MasterCard, Visa) protocol, once Leumi-Card starts issuing these cards.
“PrivateServer/EMV is the fastest Hardware Security Module available on the market, capable of verifying 1,200 TPS (Transactions Per Second) and creating up to 150 digital signatures per second in the issuing phase”, says Motty Alon, Director of Marketing for ARX, “Leumi-Card has been offered a cost-effective solution for their migration efforts to the new chip standard”.
PrivateServer servers are installed in numerous banks and financial institutes world wide while many financial institutes in both Europe and Asia Pacific are in the evaluation phase of this product. |
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About Leumi-CardLeumi-Card Ltd. is one of Israel’s leading credit card companies fully owned by Bank Leumi, the country’s oldest bank (since 1902) and one of the two largest credit card companies in the country. The company issues and distributes Visa, Mastercard and Amex cards. The company has more than 1.2 million private customers and gives services to some 39,000 businesses. |
| About PrivateServerPrivateServer is ARX’s highly secure (FIPS 140-2 Level 3), network attached, Hardware Security Module (HSM) that provides a secure environment for data encryption. PrivateServer conducts sensitive cryptographic operations, secure key storage, and management of a large number of keys. For more information visit http://www.arx.com/products/hsm.php. |
| About ARXAlgorithmic Research (ARX) is a leading global provider of electronic-signature and data-security solutions. ARX engineers and scientists have more than 20 years of experience in security-related applications. ARX helps businesses secure, streamline, and scale their business processes and transactions with the proper controls required by legislation, regulation, and industry best practices. Visit us at http://www.arx.com. |
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