WNBD's new startup partner has some nice entrepreneurial technology: The credit card information is entered online and sent to a merchant (an online store) through a common server. Anyone who owns the credit card information or obtained access to it can make the purchase – a cause of online fraud With Securter’s technology, a consumer will follow a different scenario: The credit card information is NOT entered online and the confidential credit card information is not used to confirm payment transactions. The transaction is confirmed according to EMV technology by generation by credit card's chip the "transaction certificate" (cryptogram)…
Securter payment platform adapts the physical point of sales (POS) NFC (Near Filed Communication) and EMV technologies to secure online payments. The solution utilizes a unique combination of payment gateway, low-cost information server, client/server software applications, authorization algorithms etc. Our major value proposition for the financial institution is in preventing fraud and reducing direct (chargeback) and indirect (agency cost, reputation damage, etc.) costs associated with online fraud. With online purchases growing at a healthy rate of 6%, global financial institutions will benefit from a technology such as ours by better serving the needs of increasingly tech-savvy consumers, maintaining business and consumer confidence, enjoying the continuous growth of the payment card industry, and increasing the value of the financial institution’s BRAND and its protection. http://securter.com/
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