LOS ANGELES (June 27, 2017) -- Sixteen billion dollars was stolen from 15.4 million victims of identity theft and fraud last year, up 16 percent over 2015. Encryption, tokenization and EMV chips have helped but theft of credit/debit card numbers was up 40 percent. Meanwhile, a new victim of fraud or identity theft is popping up every two seconds. With the proliferation of cyberattacks, debit/credit card and digital wallet purchases were not secure from ID theft and fraud from smartphones or at the point-of-sale, until now.
The new Card Secure® app from Internet Promise Group is the first-ever platform that eliminates ID theft and fraud in each and every mobile, retail and online payment. A game changer for merchants, banks and consumers, Card Secure eliminates the transfer of consumer bank card data to merchants, point-of-sale terminals and smartphones when making purchases.
“With data breaches expected to cost $2.1 trillion by 2019, Card Secure provides unparalleled security for merchants, card issuing banks and peace of mind for consumers,” said Tara Chand, Chairman and Chief Executive Officer of Internet Promise Group.
How does it work? Download the app to your smartphone one-time from an approved site or by calling customer service. To make a payment, Card Secure takes transaction meta data from the sales terminal or online screen as a barcode and transmits it wirelessly to the payment processor for approval. Just click, snap and pay. No tap, swipe, log-in credentials or signature are required. Card Secure works with all merchant processing systems, yet unlike other payment options it never sends your credit card data to the merchant.
Card Secure is faster, easier and more secure than every other purchase method. It also thwarts name, date of birth, mother's maiden name and Social Security number theft as this data is never provided to merchants or stored in your smartphone. And for millions who still prefer using a plastic card to make payments instead of their phone, IPG’s Ultimate Card® offers the same payment security but without using personal banking or account data, in case the card is lost or stolen.
Unlike Apple Pay, Google Wallet, Android Pay and other debit/card payment methods already in place, Card Secure eliminates transfer of personal bank card and account data that thieves want from transactions. It also lowers merchant liability costs for safeguarding private third-party consumer data, as crooks can’t steal what isn’t there! No additional merchant hardware or added consumer fees are required.
Multiple U.S. and global patents have been issued and are pending for Card Secure and Ultimate Card. Internet Promise Group plans to partner with payment processing companies and launch its products within six months. For more information please contact Internet Promise Group at (310) 787-1400 or visit www.internetpromisegroup.com.
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