P> At Your Service. Science Applications International Corp., will start offering a wide range of services based on the new secure electronic transactions standard, SET, that protects bank card purchases on the Internet. Through its @Yourservice business unit, the San Diego-based company will provide consulting, integration and digital certification services to financial institutions, network operators and merchants doing business on open networks.
Visa International and MasterCard International designated SET as the single standard for consumers and merchants to conduct cyberspace bank card transactions. The two credit card companies, which published SET on their World Wide Web pages, expect banks to offer the secure services via the Internet in the fall. SAIC worked for Visa in crafting the standard.
"We're bringing these skills and our understanding of SET complexities, such as digital signatures, public key cryptography, certificate management and network protocols, together to help businesses transition smoothly into the world of electronic commerce," said Nick DiGiacomo, who oversees @Yourservice.
Unisys on S&P Watch. Standard & Poor's continues to keep a close eye on debt-laden Unisys Corp., which is suffering from limited financial flexibility and significant cash flow requirements. The Blue Bell, Pa., company faces some tough challenges as it tries to execute major corporate restructuring, achieve cost savings and improve cash flow.
The company, which carries $1.9 billion of debt, continues to struggle through its realignment into three business units: information services, support services and computer systems.
Although the restructuring would result in more than $600 million in savings, cash requirements for work force reductions and other costs probably will be about $400 million this year, S&P said. Last year, however, revenues increased 4 percent to $6.2 billion, and the company had a cash balance of $1.1 billion at the end of 1995.
In an unrelated announcement, Unisys signed a marketing agreement with National Registry Inc., St. Petersburg, Fla., to sell fingerprint imaging systems to financial markets. Unisys, a leading company in the financial services market worldwide, will offer the NRIdentity Series software tool that uses finger imaging technology for personal identification.