Equifax (NYSE: EFX), best known for its consumer credit reporting services, will begin offering e-commerce security technology for Internet transactions. The suite of new services, known as Equifax Secure E-Commerce Solutions, is based on IBM Vault Registry technology and provides protection against credit card fraud. With annual revenues of over US$1.5 billion, Equifax could potentially become a major e-commerce player.
The new services will be offered as an outsourced solution, aimed at large companies in industries such as banking, financial services, healthcare, insurance, telecommunications, and public utilities.
Jeff Johnson, Equifax senior vice president and general manager of Equifax Secure, Inc. said, “As we move toward the millennium, our clients will be doing more and more business over the Internet and other private networks. We are now in a position to help them meet the challenges of doing business safely over the Internet.”
Equifax is based in Atlanta, Georgia, with 14,000 employees in 18 countries. Last month, Equifax announced that it has been aggressively repurchasing shares of its stock, after assessing that the stock is undervalued. News of the company’s entry offering of e-commerce services did not appear to have any significant impact on its stock price.