NaBANCO and Microsoft Collaborate on Secure Online Payments

Strategic Insights -

NaBANCO, the merchant credit card subsidiary of First Financial Management Corporation, has announced a partnership with Microsoft to provide a secure end-to-end method for processing bankcard payments over online networks. The partnership utilizes Microsoft's secure transaction technology, which enables NaBANCO's merchant customers to accept bankcard payments and integrate them into their existing payment infrastructure with a high assurance of security and integrity. This collaboration marks a significant step towards the growth of electronic commerce, as NaBANCO believes that protecting transaction integrity and authenticating both merchant and purchaser is essential for widespread adoption.

Key Takeaways:

  • NaBANCO and Microsoft have partnered to provide a secure end-to-end method for processing bankcard payments over online networks using Microsoft's secure transaction technology.
  • The technology enables NaBANCO's merchant customers to accept bankcard payments and integrate them into their existing payment infrastructure with a high assurance of security and integrity.
  • The partnership aims to reduce the risks of fraud related chargebacks, a key area of concern for online merchants, by allowing for the creation and verification of a signed order.
  • NaBANCO handles over $74 billion in annual bankcard volumes for over 165,000 merchants worldwide and is a leader in the merchant processing business.
  • Microsoft's Advanced Consumer Technology division will continue to support NaBANCO through their technology efforts, citing the company's strong relationships with premier merchants.

Statistics:

  • $74 billion: The annual bankcard volumes handled by NaBANCO for over 165,000 merchants worldwide.
  • 165,000: The number of merchants worldwide that NaBANCO handles bankcard volumes for.
  • 1: The uniqueness of Microsoft's transaction technology, which addresses the needs of both merchants and acquirers.
  • 1: The key area of concern for online merchants, which is addressed by signing orders to reduce the risks of fraud related chargebacks.

Sources:

  • Business Wire, March 27, 1995
  • Microsoft Corporation
  • First Financial Management Corporation
  • NaBANCO
  • Patrick H. Thomas, Chairman, President and CEO of FFMC
  • Warren Dent, Director of Business Development for Microsoft's Advanced Consumer Technology division