Internet shoppers concerned about security will gain confidence from 128-bit encryption being offered by Eagle Technology on credit card transactions.
Eagle believes a pilot it will conduct with the ASB Bank in the next three months will be the first in New Zealand to use the encryption technology.
It will initially be available to shoppers at Eagle’s Superstore Web site, which has The Warehouse as its anchor tenant.
Until now customers have only been protected by 40-bit encryption or have conducted the payment portion of the transaction offline.
Eagle’s Internet services manager Chris Lines says the company had been looking for some time to set up secure Internet payment systems not only for the Superstore but for other areas such as its Information Mall, Eagle Net.
Eagle Net, which includes databases on tax, law, property, and building products, uses an invoicing system to charge customers.
“At the moment they register and are invoiced for each viewing. We’d like to open it up so that they can view and pay on an ad hoc basis.”
Lines says Eagle began discussions with a number of banks and decided that the ASB Bank was the most advanced in the area of online payment.
“They already had experience with the SAM (Smart Access Method) project and were well advanced in their planning for providing a secure Internet payment service. We have joined together under a memorandum of understanding to jointly develop a secure Internet payment service.”
ASB has been running an Internet banking pilot among its staff since April last year.