 Enabling mobility and security for C2C , B2C and B2B payments and transactions .Credit card fraud is the number one form of Identity Theft and is consumers number one fear. We are announcing the availability of Secure Transactions Solution , not only using consumer's desktop, but using any modern smart-phone or tablet as well,
By: Dr. Eli Talmor 
Mobility and Security for B2C , B2B, C2C. • Identity Theft is the fastest growing crime. Source: U.S. FTC, • 9.9 million adults are victims of identity fraud - The number of U.S. identity fraud victims increased 22 percent in 2008 to 9.9 million adults. Source: Javelin Strategy & Research, • 49% of consumers across eight countries would consider switching or definitely switch banks if they or someone they knew was hit by card fraud. Source: ACI Worldwide - Wednesday, • Credit card fraud is the number form of Identity Theft and is American's number one fear. Source: UNISYS Security Index: United States, • LexisNexis True Cost of Fraud Study uncovered six key findings: o Merchants are paying $100 billion in fraud losses due to unauthorized transactions and fees/interest associated with chargebacks, nearly ten times the cost incurred by banks. Far surpassing bank costs of approximately $11 billion in 2008, merchant fraud losses also amounted to more than 20 times the total value of consumer losses (approximately $4.8 billion). Factoring in the additional cost of lost/stolen merchandise, U.S. retail merchants are suffering a total industry-wide fraud loss of $191 billion. o One in five merchants experienced an increase in unauthorized transactions associated with identity fraud, which this study attributes to economic conditions and increased criminal sophistication. Certain merchant segments reveal a higher prevalence of fraudulent transactions such as large e-commerce retailers, of which 40% saw an upsurge. o Changing consumer payment methods requires a dynamic fraud management strategy. Credit card crimes continue to rise sharply, but alternative payments represent a troubling new source of losses for large merchants. Credit cards are linked to nearly half of all fraudulent transactions for all merchants, and 50% of large retailers saw an upsurge in credit card fraud in 2008. Fraudsters are taking note of nontraditional payment methods: 29% of large retailers already reported an increase in alternative payments fraud during 2008. o Friendly fraud accounts for more than one-third of the total fraud for online-accepting merchants. This equates to an average of 0.4% of total annual revenue lost to friendly fraud, whereby a consumer makes an Internet purchase via credit card and issues a chargeback after receiving the purchase. The merchant or services provider issues an invoice to the consumer.The consumer fills in his credit card info , involving typically credit card number and expiration date. Since card-is-not- Our solution for Secure E-Commerce Online Transactions , from consumers desktop has been released previously.Now we are proud to announce the availability of Secure E-Commerce Offline Transactions , not only using consumer's desktop, but using any modern smart-phone or tablet as well, using on-the-shelf standard Remote Desktop Protocol (RDP) software app. This approach is valid for E-Commerce as well as Point-of-Sale. This is how it works (referring to the picture above): 1. Business provider (point-of-sale merchant ,service provider, etc) uses his smart- 2. Using SMTP (email) the invoice form is transferred to transaction (service or sale) recipient for transaction authorization. 3. Consumer accesses his Remote Desktop and retrieves invoice from his mailbox. To approve the transaction - consumer fills in his credit card info and invoice copy is retained for future audit. 4. To authorize valuable transaction – the person performs 2-factor strong authentication over HTTPs vs. MACS-Managed Authentication &Crypto Service. 5. On-success: 6. Digitally signed form is transferred to transaction provider using SMTP (email). 7. Digitally signed form is uploaded over HTTPs to payment processor. 8. Payment processor validates signed transaction over HTTPs vs. MACS-Managed Authentication &Crypto Service. Few screenshots from solution demonstration using Apple IPhone4 connected via Orange Mobile Provider: Digitally signed invoice includes 2 parts: Transaction Certificate: http://www.sentry- and invoice itself : http://www.sentry- There is no more need to compromise between convenience, mobility and security. Please contact SentryCom http://www.sentry- # # # SentryCom is Identity Provider, providing its users strong authentication and data authorization using its proprietary Managed Authentication & Crypto Service (MACS). SentryCom uses 3-rd party Identity Proofing to enable enrollment of its users. User's digital credentials include their personal digital identities (proprietary and patented Voice Biometrics) and proprietary digital identities of their personal devices (PCs, mobiles , etc). The following services are available for relying parties : Secure Web Access, Secure Call Center Access, Remote Domain Access, Online Transaction Verification, Cloud Storage Privacy Provision Multi-Enterprise Rights Management, Mobile Transaction Authorization. Photo: https://www.prlog.org/ End
Page Updated Last on: Jun 28, 2011
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