Press Centre

Orbiscom in Major Deal with MasterCard

John Collins
The Irish Times
September 12, 2007

Irish software company Orbiscom has won a major deal with MasterCard that will see its technology embedded into new card products offered to banks.

The deal covers the MasterCard in Control platform, which enables customers of the credit and debit card provider to issue cards with new features.

The first fruits of the relationship are enhanced purchasing controls for the MasterCard Corporate Purchasing Card, which will be launched later this year. The application allows a unique MasterCard number to be generated for every transaction. This feature is based on Orbiscom's patented controlled payment number technology.

It enables consumers to make card-not-present purchases, online or over the phone, without revealing their real card details and with no changes required at the merchant's point of sale.

Basil Bailey, chief commercial officer of Orbiscom, said the deal was a "seminal change" in terms of how the firm sells to the banking sector, although he could not say how much the deal may be worth.

"MasterCard will be promoting our technology to all the major banks worldwide," said Mr. Bailey.

© 2007 The Irish Times