Virtual Mobile Network Provider, Elephant Talk, Announces Fraud Detection at POS
Elephant Talk Communications, Inc. spokesman Steven van der Velden predicted that ETAK will expand its global marketing plans this year and into 2011 and continue to aggressively offer a one-of-a-kind technology platform that enables it to create a virtual mobile network for any company, from a bank to a supermarket.
According to van der Velden, ETAK created its first customized mobile service in a credit card fraud detection system developed by ValidSoft Limited (www.validsoft.com), its wholly-owned Irish subsidiary. The system is designed to detect fraud at ATMs and point-of-sale by verifying that the payment card transaction is occurring in proximity to a mobile phone linked to the cardholder. Its proprietary software product, VALid-POS®, performs the correlation between the origination location of a card owner’s transaction and its proximity to the cell phone for domestic and cross-border transactions. ValidSoft is the only company in the software security sector that has been awarded the European Privacy Seal (a stringent certification process regarding European data privacy and protection legislation.
The big advantage of Elephant Talk Communications’ software technology platform is that it is one integrated system, van der Velden explained in the CDTV.net news interview (Listen to the Interview). ETAK’s technology platform offers its business customers the ability to integrate new and existing services without having any impact on the system’s connectivity for end-users. Partners, both Mobile Network Operators and Virtual Operators, can bypass their own legacy back office infrastructure, thereby dramatically lowering costs, while at the same time keeping or even improving their security levels.
The ETAK CEO told CDTV.net that his company has signed agreements with Vizzavi, part of the Vodafone Group, T-Mobile, and other global Mobile Network Operators and foresees demand for his company’s technology platform to increase because the future of mobile communications will touch everything from banking to health care. He predicted that supermarkets, banks, health maintenance organizations and for example insurance companies can use ETAK’s effective technology platform to maximize use of mobile virtual networks to service their own customers.
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