The Cutting Edge: COMPUTING / TECHNOLOGY / INNOVATION : MasterCard, Visa Resume Talks on Internet Finance Standard
New York — MasterCard International Inc. said it resumed talks with Visa International Inc. over a set of guidelines designed to prevent theft of financial information on the Internet.
The development of a single standard could accelerate the acceptance of electronic commerce on the Internet. The talks bring together MasterCard and its partner, Netscape Communications Corp., with Visa and Microsoft Corp. Other companies involved include RSA Data Security Inc. and VeriSign Inc.
Talks broke down in September after Microsoft and Visa decided to pursue their own standards. MasterCard spokeswoman Dorea Smith said discussions have resumed.
The companies are expected to release the standard in January.
Visa and Microsoft were unavailable for comment. Netscape declined to comment.
Visa and MasterCard are clearinghouses that are owned by their member banks, which make money by leasing their names and processing credit card transactions.
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