December 18, 1996 5:45 PM ET
Wells Fargo Bank in online payment and credit application deal with GTE, VeriFone
By Maria Seminerio

  Wells Fargo Bank has signed agreements for producing Wells Fargo-branded vPOS merchant-side Internet payment software with VeriFone Inc. and incorporating GTE's SET-compliant CyberTrust digital certificates into the vPOS solution.

The Wells Fargo vPOS software allows real-time online transactions to be processed using Secure Sockets Layer encryption and enables merchants to automatically request digital certificates, bank officials said.

CyberTrust certificates identify merchants to the Wells Fargo credit-processing system, ensuring security for consumers' credit card numbers, GTE officials said. GTE will also provide certificate management and support services to Wells Fargo Bank.

The certificates will support the development of new security solutions as the Secure Electronic Transaction protocol evolves, said Joyce Fai, strategic alliance and business development manager at GTE, in Needham, Mass.

Later versions of Wells Fargo vPOS will support SET-compliant digital certificates issued to individual consumers, Wells Fargo and VeriFone officials said.

Wells Fargo Bank, the principal subsidiary of the Wells Fargo & Co. holding company, is based in San Francisco and can be reached at www.wellsfargo.com/. More information on GTE's CyberTrust public key cryptography products is available at www.cybertrust.gte.com/.

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