Visa, Mastercard Reach Internet Deal

MasterCard and Visa ended seven months of sometimes bumpy negotiations with an agreement Thursday on a way to assure security of credit card purchases over public computer networks like the Internet.

But their work so far may seem like a trip in the fast lane compared to the sales job that’s ahead.

People have little faith sending confidential information across on-line systems and their uneasiness is reinforced regularly by news of stolen data and arrested hackers.

Visa and MasterCard hope the power of their brand names will give people more confidence.

The companies have designed a software specification for securing credit card numbers, the most important part of an on-line dialogue between a buyer and seller.

The number will be scrambled, or encrypted, so it is unintelligible as it moves through a network. The merchant who gets the number won’t be able to unscramble it but will be able to check its validity.