Virtual Account Numbers

CITIBANK

More and more organizations involved in e-commerce are taking steps to fight Internet fraud. Citibank has responded to increased online credit card fraud with the introduction of Virtual Account Numbers, a secure online payment technology that safeguards Citibank's card members' privacy and security when shopping on the Web.

Developed in partnership with Orbiscom, provider of payment security technology to financial institutions, Virtual Account Numbers generates a random, substitute account number for every online purchase. A customer's actual credit card number is safely stored with Citibank and is never transmitted on the Internet to a merchant or third party. Since a customer's credit card number is never revealed, his or her actual account number cannot be stolen.

After registering at www.citicards.com and assigning themselves a user name and password, customers can download the Virtual Account Numbers payment software. When making a purchase from an online retailer, the customer enters that user name and password for authentication. The software generates a random substitute credit card number and transfers the number to the retailer's checkout form, all within a matter of seconds.

The substitute number is treated just like the real credit card number, so there's no delay in the transaction or approval process. Once used, the substitute number is not valid at any other retailer site.

"Virtual Account Numbers is an invaluable benefit to our customers," says Amy Radin, Director, e-business, Citi Cards. "Consumers gain peace of mind knowing that their personal credit card information never travels on the Internet. For online retailers, who generally bear the financial liability for fraudulent purchases, reduced online fraud equates to a better bottom line."

Seems like a winning solution for everyone: cardholder, retailer and Citibank. Not only is the product free to Citi Card members; any reduction of the millions of dollars lost every year to online fraud has to please both retailer and credit card issuer.

Citigroup 399 Park Ave. New York, NY 10043 800-285-3000 www.citicards.com

Orbiscom Inc 500 Park Ave., 6th Floor New York, NY 10022 212-486-2600 www.orbiscom.com