New Visa and FireEye cyber watch program will provide advanced cyber protection capabilities for merchants of all sizes
Visa Inc. (NYSE:V) and FireEye, Inc. (NASDAQ:FEYE) today announced their intention to co-develop tools and services to help merchants and issuers protect against advanced cyber attacks targeting payment data. The first of its kind Visa and FireEye Community Threat Intelligence (CTI) offering will bring together threat information from both companies, allowing merchants and issuers to quickly detect and respond to attacks against their IT and payment infrastructure. Under the offering, FireEye will operate the easy-to-use web based service to enhance stakeholders’ knowledge of attacks targeting the ecosystem, providing a significant improvement over current industry practices of sharing threat intelligence via e-mail or static documents.
As strategic partners, FireEye and Visa initially plan to offer tools that will provide greater cyber intelligence and enhanced threat monitoring and will continue to work together, along with FireEye’s cyber forensics group Mandiant, to add more capabilities tailored to issuers and merchants of all sizes.
Many data compromises have similar attack patterns reinforcing the importance of collective knowledge sharing to help merchants prepare and monitor for known threats. Enhanced monitoring of malicious attacks and suspicious payment activity will help in alerting merchants of potential compromises. Identifying these data compromises earlier means fewer stolen accounts and greater protection for their customers.
“The threat environment for merchants is more hostile than we’ve ever seen – attack groups focused exclusively on stealing consumer data are continuously expanding their operations and employing new techniques – it’s a daunting prospect for any merchant whose business could collapse if they lose customer trust,” said David DeWalt, CEO of FireEye. “This new collaboration brings together two industry leaders to help protect merchants and payment data and minimize the impact of attacks by sharing information.”
“By combining Visa’s unparalleled view into global payments and FireEye’s industry-leading cyber security expertise, we intend to bring faster, actionable intelligence directly to players across the payments system,” said Charlie Scharf, CEO of Visa Inc. “Although we are leading efforts to render stolen data useless through smart technologies, data security remains foundational for merchants. We’re pleased to be working closely with FireEye, which has been at the front lines identifying and investigating some of the most significant compromises around the world, to provide critical cyber intelligence to merchants and financial institutions.”
About Visa Inc.: Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 56,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products. For more information, visit usa.visa.com/about-visa, visacorporate.tumblr.com and @VisaNews.
About FireEye, Inc.: FireEye has invented a purpose-built, virtual machine-based security platform that provides real-time threat protection to enterprises and governments worldwide against the next generation of cyber attacks. These highly sophisticated cyber attacks easily circumvent traditional signature-based defenses, such as next-generation firewalls, IPS, anti-virus, and gateways. The FireEye Threat Prevention Platform provides real-time, dynamic threat protection without the use of signatures to protect an organization across the primary threat vectors and across the different stages of an attack life cycle. The core of the FireEye platform is a virtual execution engine, complemented by dynamic threat intelligence, to identify and block cyber attacks in real time.FireEye has over 3,400 customers across 67 countries, including over 250 of the Fortune 500.
FireEye and Mandiant are registered trademarks or trademarks of FireEye, Inc. in the United States and other countries. All other brands, products, or service names are or may be trademarks or service marks of their respective owners.
FireEye Forward-Looking Statements
This press release contains forward-looking statements, including statements related to expectations, beliefs, plans and objectives with respect to the intended partnership between Visa and FireEye, and the features, benefits and availability of offerings associated with the partnership. These forward-looking statements involve risks and uncertainties, as well as assumptions which, if they do not fully materialize or prove incorrect, could cause FireEye’sresults to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the fact that FireEye and Visa have signed only a letter of intent and still must negotiate, finalize and execute a full definitive agreement related to the partnership; difficulties, delays or the inability of FireEye and Visa to execute their plans and objectives with respect to the partnership; and general market, political, economic, and business conditions; as well as those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in FireEye’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 8, 2015, which is available on the Investor Relations section of the company’s website at investors.FireEye.com and on the SEC website at www.sec.gov. All forward-looking statements in this press release are based on information available to FireEye as of the date hereof, and FireEye does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. Any future offering that may be referenced in this release is for information purposes only and is not a commitment to deliver any offering. FireEye reserves the right to modify future offerings at any time.
Source: Visa Inc. and FireEye, Inc.
Source: Visa Inc.
Sandra Chu, +1 415-805-4124
Vitor De Souza, +1 415-699-9838
FireEye Investor Relations
Kate Patterson, +1 408-321-4957