Eiger Systems’ EigerPAY Gateway is approved for use for automated BACS submissions in conjunction with PaySentry™ HSM from Thales.

Thales today announced that its combined PaySentry™ hardware security module with EigerPAY Gateway from Eiger Systems has been approved by BACS for use with BACSTEL-IP, the new high-speed online payment and collection system. The combination of these two products will allow high volume users and bureaux to benefit from the new BACSTEL-IP automated submission service. Thales has introduced the PaySentry solution to set new standards in ease of use and in security.

BACSTEL-IP provides the UK with the most advanced, flexible and cost effective system for electronic payment submission anywhere in the world. It is the first phase of the ambitious technology renewal programme NewBACS, which includes the replacement of the BACSTEL technology by 31 December 2005. BACSTEL is responsible for processing over four billion payments from and to 100,000 UK businesses every year. The NewBACS programme will introduce IP technology and a multi-layer security platform with expanded BACS functionality in the future to meet the growing demand for efficient and secure online transaction services.

Thales is already deeply involved in the BACSTEL-IP rollout as its SafeSign™ system forms the security backbone for the BACSTEL-IP system, verifying digital signatures and authenticating users. BACS uses SafeSign for the provision of real-time verification of the PKI (Public Key Infrastructure) Smartcard identities, issued to users by the banks, and to check the digital signatures on all payment files submitted to BACS.

For BACSTEL-IP users, BACS is ensuring that all systems, such as PaySentry, pass a rigorous testing and approval process. High volume users may find it advantageous to submit transactions automatically and to achieve this they will need to incorporate a hardware security module into their payment processing infrastructure to ensure the cryptographic keys are stored securely.

PaySentry’s ease of use stems from its dedicated graphical user interface that allows the user to manage the security token quickly and simply. Thales has also designed PaySentry so that it can be preconfigured, which makes it far easier and cheaper to install. Finally, PaySentry users will benefit from a higher degree of internal fault tolerance.

David Sear, Director at BACS, said: “BACSTEL-IP is a significant milestone for BACS that improves automated payments for businesses in the UK. Having worked closely with Thales in the incorporation of their SafeSign system within BACSTEL-IP, we are extremely pleased that they have continued to show their commitment to the new system with the introduction of PaySentry. We are therefore delighted to be able to grant approval to Eiger Systems for EigerPAY Gateway in conjunction with PaySentry.”

Paul Meadowcroft, Head of Transaction Security, e-security business, Thales, said: “As a leading provider of hardware security modules to the world’s banks, Thales is confident that the PaySentry system offers the most effective solution on the market for BACSTEL-IP. We know that users will want a system that is easy to use and extremely flexible and we have designed PaySentry with this in mind. As active participants in and supporters of the BACSTEL-IP initiative, we are pleased to provide our continued commitment to its success through the introduction of PaySentry.”

About Thales

Thales is an international electronics and systems group, serving defence, aerospace, services and security markets. The group employs 62,000 people worldwide and generated revenues of 10.6 billion in 2003.

Operating in three main markets covering e-security, card payment and network security, Thales’ e-security activities address the business, government and finance industries’ need for cryptographic security products and solutions. Over half of the world’s banks, together with the majority of the busiest exchanges, currently use Thales technology. For more than 20 years the company has been at the forefront of security and payment technology, co-operating and contributing to set the industry standards used for financial transactions and e-commerce globally. Thales’ e-security activities offer a wide range of security solutions to protect Government and Defence critical information infrastructures, thereby positioning the company as a leading worldwide supplier of certified network security products.

About Eiger Systems

Eiger Systems Limited specialises in the development and supply of data validation and payment processing software to support automated banking and e-commerce.
The company’s extensive product and service portfolio includes EigerPAY Gateway, for managing the entire process of creating, authorising, submitting and verifying BACSTEL-IP payments submissions and BANK WIZARD®, Europe’s leading bank data validation solution.

Founded in March 1997, Eiger Systems has expanded rapidly and sustained profitability every year since its foundation. For the past two years, Eiger Systems has been ranked in The Sunday Times’ ARM Tech Track 100, the recognised league table of Britain’s fastest growing privately owned technology companies.

With over 750 customers, Eiger Systems is widely acknowledged as the market leader in Europe and currently employs over 40 people at its offices in Rugby, Warwickshire, UK. For more information, please visit www.eiger.co.uk.

About BACS

• BACS Limited (www.bacslimited.co.uk) is one of the world’s largest and most advanced automated clearing houses driving the heart of the UK’s financial systems, responsible for processing Direct Debits and Direct Credit salary payments.

• BACS processes over 4 billion financial transactions annually with more than 64 million on a peak day in 2003.

• Around 50,000 businesses connect to the BACS service, including all of the FTSE 100, while a further 60,000 businesses are indirect submitters to BACS through a bureau.

• The use of BACS products and services has revolutionised the payments industry and enables more companies than ever to realise the benefits of making automated payments, including cost effectiveness, reliability, convenience and ease of use.

• Over 90% of UK salaries are paid by Direct Credit.

• BACSTEL-IP is the new delivery channel, which provides BACS customers with a secure, and direct online telecommunications access to BACS Ltd.