Prime Factors Signs Global Software Agreement with HSBC

This is a test header.

---

EUGENE, Ore.--(BUSINESS WIRE)-- Prime Factors, Inc. announces a global agreement for HSBC to continue to use Prime Factors’ Bank Card Security System (BCSS).

The agreement with HSBC Technology and Services USA replaces a prior license for issuing and transaction authorization at five regional credit card operating centers.

Leading issuers and secure personalization bureaus use BCSS to reduce their software development and operational costs. It provides out-of- the-box functionality to comply with the logical security requirements established by the network brands – Visa®, MasterCard®, American Express®, Discover® and JCB.

“The agreement allows for the unlimited use of BCSS within HSBC as needed to meet the changing requirements of its global credit card business,” said Prime Factors president Patrick Riley.

In addition to HSBC, BCSS is used globally by leading companies such as Total Systems (TSYS), Discover, Tieto Sweden AB, SABB (Saudi British Bank), GE Capital Consumer Finance, and Alliance Data.

“BCSS users typically develop their own card issuance platform to save money, and to control cardholder data throughout the issuing process,” Riley said. “BCSS is the cost-effective alternative to software development required to build key management from scratch, and replicate compliance requirements for the generation and authorization of security codes and PINs.“

By implementing BCSS rather than developing this functionality in-house, some BCSS customers have reduced costs by up to 75% and accelerated their time to market by six months, Riley said.

BCSS can also reduce on-going maintenance costs by keeping customers current with the latest logical security requirements such as the use of hardware cryptography for secure key management operations. BCSS provides a seamless interface to Thales hardware security modules (HSMs), thus eliminating all the programming required to make Thales HSMs work in accordance with requirements for security code creation and key management.

BCSS customers have implemented EMV functionality for smart card issuing and transaction verification. This includes EMV issuance schemes for Chip-and-PIN, RSA key generation and caching and ARQC and ARPC cryptogram generation that is required for secure processing of EMV transactions. BCSS manages all keys necessary for EMV card issuance and authorization, and it supports the most current industry standards for EMV application keys and issuer certificates as well as card keys.

For more information about the Bank Card Security System: http://primefactors.com/products/BCSS/index.html

Prime Factors, Inc.Lawson Abinanti, 425-688-0104[email protected]

Source: Prime Factors, Inc.

---

Are you missing key trading opportunities? Upgrade to StreetInsider Premium and get a step ahead of the market - FREE TRIAL!