AUSTRALIA (ZDNet Australia) - The Australian Trust Center will target the business-to-business and business-to government sectors and will offer services related to customer identification, permission management and transaction authentication.
The development of the center also falls in line with Telstra’s push towards providing Web transaction security, a joint-company statement read.
Telstra executive director for emerging business, Gerry Sutton, said outsourcing online security via a specialised trust center would prove cheaper and less risky for customers.
He said a Telstra study had found that outsourcing was a more cost-effective method of obtaining transaction security than in-house development.
"The cost to businesses of providing a high standard of transaction security themselves has been one of the major impediments to uptake of e-commerce applications within Australia," Sutton said in a statement.
The companies did not disclose how much cash would be injected into the operation.
Reuters reports that shares in Secure Network Solutions leapt more than seven percent on news of the outsourced online trust and security transaction deal.