NW_20051114_en_Rabobank (The Netherlands) to Use VASCO’s Digipass 810 for EMV-CAP and Digipass Two Factor Authentication
OAKBROOK TERRACE, Ill., and BRUSSELS, Belgium, November 14 , 2005 - VASCO Data Security International, Inc. (Nasdaq: VDSI) ( www.vasco.com), the global number one vendor of strong user authentication products to the financial sector, today announced that leading Dutch bank Rabobank will use VASCO’s Digipass 810 for retail banking, corporate banking and e-commerce .
Rabobank will be the first bank worldwide to start a large scale roll-out of EMV-CAP 2004 certified secure smart card reader. EMV-CAP is the leading standard chip authentication protocol used by Europay, Mastercard and VISA for Transactions over the Internet, telephone or fax (Card Non Present Transactions). Currently, Rabobank has almost 3 million units of Digipass 800, the predecessor of Digipass 810, in the field.
Digipass 810, or ‘Random Reader’, combines the Digipass authentication functionalities with the EMV-CAP authentication protocol. “Random Reader” is the name Rabobank uses to describe its Digipass secure card readers
With Digipass 810, Rabobank allows its customers to do both secure e-banking and secure e-commerce with one secure smart card reader. Digipass 810 is the second product that VASCO has developed in close cooperation with Rabobank. Digipass 800, developed in 2000-2001 was the first result of the kitchen-to-kitchen approach of VASCO and Rabobank..
In a first phase, Rabobank will use Digipass 810 in its traditional Digipass authentication mode. Next year, Rabobank will roll out EMV credit cards to its customer base and in a later phase will start with the distribution of EMV debit cards. Once in the possession of their new credit and debit cards, customers will be able to use both the Digipass and the EMV-CAP authentication protocols. Digipass 810 users will have two authentication products in one, a Digipass authentication product for e-banking, and an EMV-CAP secure smart card reader for e-commerce.
By using VASCO’s Digipass secure smart card readers in conjunction with an EMV smart card, end users can use the same EMV card and PIN, not only to get money out of an ATM or to pay for purchases in a shop, but also to do all kinds of online transactions such as internet shopping and internet banking in a secure way. The PIN code they use to get money out of an ATM or to pay bills in a shop can also be used to activate the Digipass card reader. That way, end users only need to remember one single PIN code to do both physical and online transactions while taking full advantage of EMV security.
“As the largest European Internet bank, we feel it is important to be a trend setter with regards to new technologies. By using Random Reader II, we are assured that our complete customer base can use the new European payment standard EMV in an early stage. In addition, our customer will still be able to perform secure Internet banking actions,” said Marc Cootjans, commercial director at Rabobank Nederland
“Once again, Rabobank has proven that it is a true trendsetter with regards to secure e-banking and e-commerce,” said Jan Valcke, VASCO’s President and COO. “In 1993, Rabobank was one of the first banks in the world to use Digipass for phone banking. Later, in 2001, Rabobank rolled our Digipass 800, the first secure smart card reader used in a banking environment. We are convinced that Digipass 810, the fruit of the joint efforts of Rabobank, MasterCard and VASCO, will be very successful.”
About VASCO: VASCO designs, develops, markets and supports patented user authentication products for the financial world, remote access, e-business and e-commerce. VASCO’s user authentication software is delivered via its Digipass hardware and software security products. With over 18 million Digipass products sold and delivered, VASCO has established itself as a world-leader for strong User Authentication with over 420 international financial institutions and approximately 2,100 blue-chip corporations and governments located in more than 100 countries.
Forward Looking Statements
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement containing words such as “believes,” “anticipates,” “plans,” “expects,” and similar words, is forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in these forward-looking statements.
Reference is made to the Company's public filings with the US Securities and Exchange Commission for further information regarding the Company and its operations.
For more information contact:
Jochem Binst, +32 2 456 9810, [email protected]