Oracle South Africa and CyberBEX, a Midrand-based B2B exchange for secure online payments, have combined their respective technologies to offer secure e-commerce transactions to customers for high value, confidential communications such as financial dealings, contract negotiations, brokering and online banking.
"Security is always a concern when doing business on the Internet," says Leunis van Rooyen, CEO of CyberBEX. ""Few solutions are sufficiently comprehensive or flexible to support business transactions over the Internet. The problem is that security mechanisms must scale to Internet size - and support millions of users - while being practical to administer.
"An ideal payment solution should offer multiple payment options, non-repudiation, end-to-end security, integrity and confidentiality of transactions, easy integration into existing e-commerce products, multi-language support, and straightforward administration," he says.
Oracle and CyberBEX have teamed up to provide secure transactions within the Oracle 9iAS (application server) environment, and provide spontaneous, complete security with non-repudiation.
In addition, the companies have established a payment gateway to enable Oracle`s customers to Web-enable their own e-transactions securely.
Van Rooyen notes that a single security breach can result in financial loss, public distrust, and even imprisonment. A recent US IT publication estimated $1.6 trillion was lost last year worldwide due to Internet security breaches.
According to Alan Saunders, portal product manager for Oracle SA, CyberBEX has proven experience in securing electronic transactions and providing efficient payment solutions for e-commerce.
"Oracle SA has thus formed a close partnership with CyberBEX. A first tangible result from this co-operation is the integration between Oracle 9iAS with CyberBEX`s MultiSecure Electronic Payment System (EPS), allowing a one-stop shopping payment solution for merchants and hosting companies in SA.
"Oracle9iAS and the back-end Oracle 8i database help companies develop and deploy secure e-business applications. Oracle9i AS offers a number of security features, including enhancements to the database`s proxy authentication, Public Key Infrastructure (PKI) support and Web single sign-on, encryption technology, plus enhanced user authentication devices including smart cards and biometric devices."
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