3DES is a state-of-the-art key encryption algorithm that raises the level of fraud protection for PIN-based debit transactions initiated at automated teller machines (ATMs) and point-of-sale (POS) terminals. The increasing sophistication and power of mainstream computing equipment shortens the useful life of the current single DES key management systems and requires the industry to proactively address the need for security upgrades.

While standards currently exist for 3DES master key management and 3DES DUKPT (Derived Unique Key Per Transaction), there is a lack of standards for session key management. Without standards, each vendor is required to develop proprietary implementations, placing an added interoperability burden on the systems that must transport session keys.

The consortium is actively encouraging the financial industry to adopt a global 3DES standard to increase/enhance interoperability between each element of an end-to-end payment solution from the host software, to host security modules, ATMs and POS terminals.

"ACI is proud to have played a role in the creation of this new specification," said Charles Linberg, CTO of ACI Worldwide. "We believe that the result of our work will provide the interoperability and key protection our customers require for their 3DES implementations."

"The ATM industry is currently shifting to 3DES technology, and we are proud to be at the forefront with this new technology with the group of vendors," said Ken Justice, vice president of product marketing & management at Diebold, Incorporated. "Diebold is committed to ensuring our customers can seamlessly upgrade to this new standard, using the highest quality products available."

"The resolution of this issue is essential for the continued interoperability of the worldwide payments networks," said Paul Meadowcroft, head of transaction security at Thales e-Security. "Thales is fully committed to the development of an industry wide solution and its implementation within the Thales transaction security products."

"By sponsoring the introduction of the first global interoperable specification for triple DES session key management, VeriFone is continuing its twenty year commitment to the delivery of highly secure and efficient payment transaction solutions at the point of sale, benefiting customers and consumers," said Stuart Taylor, vice president of marketing at VeriFone Inc.

Both Visa and MasterCard are actively encouraging the full implementation of an end-to-end 3DES compliant solution, from the point of card acceptance to the issuer host. Considering the longevity of POS systems and the current push to migrate the entire card-accepting infrastructure to chip-based payments, the approval of a global 3DES standard is not only timely, it is an essential component of the end-to-end solution. Until a specification is available, companies must develop individual proprietary specifications. Rather than create individual specific implementations, the consortium companies are creating a global specification that can be adopted to improve interoperability.

The consortium intends to work with leading card associations, other vendors and industry standards organizations in the United States and internationally to finalize and adopt the specification - for a copy and to submit comments go to http://www.aciworldwide.com/3des/ .

About ACI Worldwide
Every second of every day, consumers are initiating electronic payment transactions - getting cash at ATMs, using debit and credit cards to make purchases in stores and on the Internet, banking by phone and PC, paying bills online. Twenty billion times a year, ACI software is used to process these transactions, powering the world's online payment systems. ACI was founded in 1975 and pioneered the development of applications and networking software for online transaction processing. Today more than 530 customers in 71 countries use ACI supplied software. Visit ACI Worldwide on the Internet at http://www.aciworldwide.com

About Diebold
Diebold, Incorporated, is a global leader in providing integrated self-service delivery systems and services. Diebold employs more than 13,000 associates with representation in more than 88 countries worldwide with headquarters in Canton, Ohio, USA. Diebold reported revenue of $1.76 billion in 2001 and is publicly traded on the New York Stock Exchange under the symbol 'DBD.' For more information, visit the company's web site at http://www.diebold.com .

About Thales in Security
Thales, one of the globe's leading suppliers of integrated security solutions, addresses the business security needs of corporates and governments alike, protecting transactions, networks, identification documents and sensitive sites. Thales' security capability extends to security and payment technology for financial transactions, networks and e-commerce. An acknowledged expert in smart card technology and applications, Thales is a European leader in security critical electronic payments, integrated Electronic Fund Transfer (EFT), e-purse payment and secured keyboards, as well as being the UK's leading supplier of electronic card payment terminals.

About VeriFone, Inc.
VeriFone, Inc., (http://www.verifone.com) recognized worldwide as the trusted leader in secure electronic payment technologies, provides expertise, solutions and services for today with a smart migration strategy for tomorrow. VeriFone is leading the industry in the delivery of solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. VeriFone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare. VeriFone has shipped over ten million electronic-payment systems, more than twice the number of its nearest competitor.

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