Verity Technologies to cut down all credit card or debit card fraud losses Online payment safe India

July 30, 2009 - PRLog -- India (Bangalore): Verity Technologies, a mobile applications company with focus on Authentication and Identity Management Services. Blue ID is an Identity and Authentication Management tool. Verity’s highly acclaimed Blue ID, a new generation technology that secures financial and online or transactions.


Blue IDs ultra pervasive technologies (mobile and Bluetooth) is highly versatile and could address the most discerning demand of various applications. While at the basic level it could ease the way e-commerce is executed and help in off-line transactions, at the next level it not only offers business intelligence solutions to advertisers & marketers but also streamline customer care function. Moving away from business solutions this device could serve as a cyber identity for the rural masses and at one stroke facilitate large scale implementation of social projects that have been languishing for want of genuine authentication.
The key in today’s market is to give the customer what he needs and to keep it very simple. The Blue ID Portfolio promises to unveil a new era in the telecom world. The innovative authentication service is expected to dramatically alter the business & social landscape as its unique cyber identity would make it possible to authenticate all transactions with a mobile phone.    
Blue IDs cutting edge technology makes it interoperability with legacy platforms, existing technologies and standards in the Financial Transactions including Scosta, EMV, 8353 among others. By offering personal mobile security and authentication solutions, it also addresses the security concerns of ecommerce, Web 2.0, Telco 2.0 and NFC mass-market adoption.  
The Blue ID Portfolio has 5 variants with varying levels of security.

•   Blue ID 5 – One to Many Biometric Card
•   Blue ID 4 – One to One Biometric Card
•   Blue ID 3 – One to One Non-Biometric Card
•   Blue ID 2 – Phone as the Authenticator
•   Blue ID 1 – NFC Cards with CRM Interface (for retail segment only)

Benefits
•   Initiate real-time session control based on your personal identity
•    Control access to applications, electronic goods, buildings, even your home
•    Only you can authorize your credit card
•   Prevent identity theft
•   Secure point of sale transactions using debit or credit cards Passport, driving license and other identity card schemes
•   Manage your online identity in Web 2.0 and social networking Environments
•    Shop online with complete anonymity and peace of mind
•   Authenticate web login and single-sign-on activities
•   Make secure payments with your mobile phone
•    Protect other payment cards, such as Bank Cards, from exploitation
•   Lock-down devices applications to deter theft and safeguard sensitive data

Benefits to Sectors
Financial Services
•   Credit Cards / Debit Cards / Ecom / Mcom: Increases the level of assurance hence a direct impact through increased usage
•   Reduction of fraud losses to banks; target high risk customers of cards

Retail
•   Customer identification resulting in “personalized service” through target marketing and loyalty programs
•   Aggregation of services with the “customer” at the center – the same card allows store purchase, online purchases, mobile purchases and can provide the “instant verification” for consumer loans
•   Provides better “loyalty” management and tracking customer needs “anonymously”

Micro-finance
•   Ensures delivery of capital to the end user who might be vernacular or illiterate (controls misappropriation of capital by agents)
•   Strong Anti-Fraud Service which aids recovery

Access Control (Security)
•   100% elimination of Identity Theft risk
•   Customized for different tiers of security through use of proximity cards

Features
•   Blue ID Identifies a person
•   Uses the Mobile Device in the Authentication process
•   Anonymous
•   Size of a Credit Card
•   Add-on Portable Biometric Reader for Foolproof Identification
•   Affordable
•   4 variants of BLUE ID (Plain / Biometric / Biometric – One to Many / Phone as the authenticator / NFC enabled)
•   It is a zero input user solution, no keys or passwords (only Blue ID 2 uses a password)
•   It is light touch on networks, systems and billing platforms.
•   It is network agnostic
•   The service provider retains the customer and not BLUE ID
•   BLUE ID works with existing finance and identity infrastructures: ISO 8583, NIST, NFC, and EMV, among others.
•   It works with the user’s (and only user’s) mobile and/or PC.
•   The BLUE ID does not contain any information. In case of loss, no breach of  
             Information / security & immediately replaceable.

# # #

About Verity Technologies:

Verity Technologies is a mobile applications company which provides authentication services for financial and other transactions. Incorporated in 2000 as a telecom solutions company, Verity has built innovative communication products/applications that enable flow of data across platforms and devices. It aims to create disruptive changes in areas like financial transactions through an anonymous authentication and identity management service that for the first time uses the cell phone as the medium of connectivity rather than a consuming node. Verity is a India Co portfolio company, India Co is a publicly traded company, listed on the Bombay Stock exchange. For more details on Verity log on to http://www.veritytech.com