Zerify Inc (ZRFY)

[ZPaul]

$SFOR Working with Credit Card Co's - George Waller

As mentioned in recent 10Q, one the pilot could be with Credit Card companies ( From previous article and Interview)

But the one industry where the technology seems to be catching on like wildfire is in e-commerce, says George Waller, director of product development at StrikeForce Technologies. He says his firm's Centralized Out-of-Band Authentication System, or COBAS, is being used by more than 8,000 credit card holders at one card company he declined to identify. And while new credit card firms are expected to sign on, Waller concedes he doesn't know how many unauthorized transactions were averted. "All we know is that there hasn't been any theft since using our system," he notes.

Waller claims COBAS is the market's only pure out-of-band authentication system. "It's simplistic sophistication all in one," he says, noting that it offers nine authentication methods, which can also be layered for greater security. Users are all relying on the phone/PIN application for credit card authorization. "We are all conditioned to use the phone. It's the most ubiquitous medium in the world," he says. "And when the phone rings and [the computer] asks, 'Will you authorize a $300 purchase at Barnes and Noble?' and you didn't, you can reject it and it won't go through. That's peace of mind." No banks are yet live with the technology, but he says pilot programs are beginning with First Community Bank, Bank of New York and Bank of Tokyo; Chase and Citigroup are also considering testing the product.