TRADE SHOW / ASSOCIATION UPDATE

Participants in NACHA's Internet Secure ATM Payments (ISAP) pilot successfully demonstrated that consumer ATM/debit cards can be used on the Internet with transaction authentication and security comparable to point-of-sale purchases.

The pilot, which took place earlier this year, successfully processed 598 transactions in which digital signatures substituted for personal identification numbers.

"The success of ISAP pilot shows that digital signature technology can be used to secure transactions because the signature is transported through a EFT network and validated by the issuing bank," said Elliot C. McEntee, president and CEO of NACHA.

The digitally signed transactions were validated 100% of the time, and the average response time for authorizing a transaction was eight seconds. Approved transactions and any denials were returned to the merchant. The pilot also withstood attempts to compromise security and commit fraud.

For more information on ISAP, contact NACHA at www.nacha.org.

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Sandy Kemper has been appointed chairman and Dennis Jones elected president of the Global Trading Web Association (GTWA), the world's largest independent membership organization of electronic marketplaces and electronic exchanges.

Kemper, who is founder and CEO of eScout, and Jones, who is president and COO of Commerce One, will help plan strategy for GTWA, which hopes to create standards and practices that will open electronic trading to businesses around the world.

"While GTWA began as a Commerce One initiative, the time has come for the organization to stand on its own feet and put the customer first," Jones said. "This means interoperability with other platforms and other ways of conducting market-based electronic trading."

For more information on GWTA, contact Michelle Hoeft at [email protected].

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EuroFinance's 10th annual International Cash & Treasury Management Conference will be held at the Placio Municipal de Congresos de Madrid in Spain from September 19 to 21.

The conference will attract 1,400 delegates and focus on strategies that are being developed to add value to finance and treasury functions. Among the topics to be explored: outsourcing solutions for treasury operations, cash and liquidity management, re-engineering business, electronic bill presentment and payment and straight-through processing.

For more information on the International Cash and Treasury Management Conference, contact EuroFinance at www.eurofinance-madridonline.com.