MasterCard SecureCode Protects All Parties Involved in an Online Transaction Helping to Make Internet Shopping More Secure

SANTA CLARA, Calif. and PURCHASE, N.Y., September 30, 2002 Arcot Systems, Inc., a leading solutions provider for securing electronic identity, today announced that Arcot TransFort has been selected by MasterCard International to facilitate the global deployment of MasterCard SecureCode. MasterCard will implement the Arcot TransFort solution and offer a hosted SecureCode service to its issuing members worldwide. This service offering will help enable MasterCard and Maestro card issuers to address cardholder concerns about the safety of online shopping, while allowing Internet merchants to benefit from an enhanced payment guarantee.

MasterCard SecureCode enables issuers to choose from a broad array of security solutions for authenticating their cardholders while preserving a common cardholder experience across platforms. Issuer choices include MasterCards PC Authentication Program, MasterCards Chip Authentication Program or the MasterCard Implementation of 3-D Secure. In all cases, MasterCards UCAF infrastructure allows the data to be transported securely among the various parties involved in an online transaction. UCAF is a data transport mechanism created by MasterCard that allows explicit evidence that a cardholder originated a transaction to be provided to issuers and merchants.

We are pleased to be selected by MasterCard for their global deployment of a cardholder authentication service under the SecureCode program, said Ram Varadarajan, President and CEO of Arcot. Arcots platform is a complete solution that supports MasterCards Implementation of 3-D Secure, reiterating Arcots commitment to provide a comprehensive online payment authentication solution for all payment methods.

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Arcots TransFort solution is the first solution in the marketplace with end-to-end software support for MasterCards Implementation of 3-D Secure, an issuer authentication option under MasterCards SecureCode service, as well as other offerings like Verified By Visa. Arcot has delivered on its commitment to MasterCard for high-quality issuer-side software that incorporates both the MasterCard SPA algorithm and UCAF within MasterCards implementation of 3-D Secure. In addition, MasterCard will operate a Directory Server licensed from Arcot to globally support MasterCards Implementation of 3-D Secure with issuers and merchants.

MasterCard SecureCode provides issuers with flexibility in their choice of security solutions for authenticating cardholders, said Bruce Rutherford, Vice President, e-Business & Emerging Technologies, MasterCard International. Arcots global market expertise, product strength, knowledge of security, as well as their strong ability to deliver, will help MasterCard offer the greatest degree of choice in the marketplace, providing customer-driven, flexible solutions on a global basis.

About MasterCard SecureCode

MasterCard SecureCode is an issuer-based security scheme that takes advantage of MasterCards UCAF infrastructure to protect against fraud in an online transaction. By offering its issuers a service based on Arcots TransFort, MasterCard and Maestro, issuers can enjoy the simplicity of a completely client-less architecture with no additional software and no download required. Under MasterCard SecureCode, a cardholders identity can be confirmed using a variety of methods including passwords, smart cards, and other methods that provide for cardholder mobility without sacrificing security.

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about Arcot TransFort

Arcot TransFort strongly authenticates and digitally signs transactions in real time, providing for the secure nonrepudiation of online payments. Scalable to hundreds of millions of transactions, Arcot TransFort allows companies to grow the volume and value of their online business and provide their customers with an added level of confidence and security in the relationship. In addition to being the first solution recognized by the Visa Compliance Testing Facility as fully complaint with the 3-D Secure protocol, Arcot TransFort incorporates the MasterCard Implementation of 3-D Secure.

About Arcot

Arcot Systems, Inc. is the leading provider for securing identity and payments in Internet-scale, transactional and wireless environments. Only Arcot provides cost-effective, scalable, software solutions based on the ArcotID Software Smart Card for strongly authenticating users and transactions for payment systems, Web-based email, Web portals and virtual private networks. Arcot solutions meet the business need for strong transactional security while providing the customer a user-friendly experience with anytime, anywhere convenience. Arcot serves over 3000 customers today including leaders in financial services, healthcare, and e-commerce that use Arcot solutions to protect their customers` privacy and reduce fraud. For more information, visit www.arcot.com.

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About MasterCard International

MasterCard International is a leader in global e-business. The association is focused on providing its member financial institutions with customized, meaningful global e-business solutions that connect them to customers in both the online and offline worlds. Through its investment in industry innovation, participation in standards development and business alliances, MasterCard is staying in the forefront of technology integration to enable anytime, anywhere payments across multiple channels and various devices. MasterCards global e-business solutions include Internet interactive services, security, smart cards, mobile commerce/wireless, business-to-business electronic commerce, and numerous emerging technologies.

MasterCard International has a comprehensive portfolio of well-known, widely accepted payment brands including MasterCard Cirrus and Maestro. More than 1.7 billion MasterCard, Cirrus and Maestro logos are present on credit, charge and debit cards in circulation today. An association comprised of more than 15,000 member financial institutions, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories. MasterCard is a leader in quality and innovation, offering a wide range of payment solutions in the virtual and traditional worlds. MasterCards award-winning Priceless advertising campaign is now seen in 81 countries and in 41 languages, giving the MasterCard brand a truly global reach and scope. With more than 24 million acceptance locations, no card is accepted in more places and by more merchants than the MasterCard Card. For the year ended December 31, 2001 gross dollar volume exceeded US$986 billion. MasterCard can be reached through its World Wide Web site at http://www.mastercard.com.

Pam Kline Smith
Arcot Systems, Inc.
408-969-6170
[email protected]

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Christina Costa
MasterCard International
914-249-4606
[email protected]

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