VISA AND MICROSOFT PUBLISH OPEN SPECIFICATION TO ENABLE SECURE TRANSACTIONS
ON THE INTERNET

NEW YORK, SEPTEMBER 27, 1995 -- Microsoft Corporation and Visa
International announced today publication of a specification to secure
payments over public and private networks. The announcement, made
simultaneously here and at NetWorld + InterOp in Atlanta, is the result of
almost a year of joint effort between the two companies.

The open specification, known as SECURE TRANSACTION TECHNOLOGY (STT), is
designed to provide a secure method for handling payment card transactions
across electronic networks, such as the Internet. Built as an electronic
version of the payment card system used today, STT extends the current
transaction security and convenience advantages to the electronic commerce
market.  By providing a technology that is completely integrated with the
current bankcard system, STT will serve as a reliable payment system for
software providers to incorporate in their products.

To encourage widespread adoption of STT, Microsoft and Visa are making the
specification available at no charge to all card brands, financial
institutions, software developers and the Internet community to create
STT-compliant applications.

"This specification will help enable the electronic commerce marketplace by
calming some of the anxieties many consumers and businesses currently have
about conducting transactions over electronic networks," said Richard
Lonergan, executive vice president of the Point of Transaction division of
Visa. "Millions of cardholders and merchants expect security and
protection whenever they use or accept a Visa card - - and we want to make
sure that's the case whether they're using it at the point of sale or on
the Internet."

"Consumers, merchants and financial institutions will soon have a highly
secure environment for conducting transactions in the 'anytime, anywhere'
world of electronic commerce," said Craig Mundie, senior vice president,
Commercial Systems Division, at Microsoft. "Because STT is designed to
provide strong authentication and was developed with Visa, software
developers can design and deploy solutions that will ensure the highest
levels of security."

Microsoft and Visa have been working to develop the STT specification since
November, 1994, when they first announced their joint effort. The
specification is available to download from the Internet at either the
VISA or MICROSOFT Web site.

Founded in 1975, Microsoft (NASDAQ: MSFT) is the worldwide leader in
software for personal computers. The company offers a wide range of
products and services for business and personal use, each designed with
the mission of making it easier and more enjoyable for people to take
advantage of the full power of personal computing.

Headquartered in the San Francisco Bay Area, Visa is the world's largest
consumer payment system. It plays a pivotal role in developing and
implementing new technologies that benefit its 18,000 member financial
institutions and their cardholders, businesses, governments and the global
economy. Visa's 420 million cards are accepted by more than 12 million
merchants worldwide. Visa/PLUS is the largest global ATM network.
 
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