Compatible with existing retail magnetic stripe acceptance systems, QSecure SmartStripe™ credit and debit cards provide issuers many advantages.
SmartStripe™ Cards
The QSecure solution includes a standard ISO credit or debit card with a proprietary chip embedded in the card's magnetic stripe. The card also contains a thin, flexible battery that will last up to 3 years.
Incorporated into the card (when it is personalized) is a table of cryptographic values generated by the card issuer using an algorithm of their choice. Each time a card is swiped for a transaction, a unique value is encoded on QSecure's chip embedded in the magnetic stripe – making it a SmartStripe™ card. To the retail point of sale terminal, the SmartStripe™ card data appears no different from any other credit or debit card. No change is required by card holders, retail acceptance systems or transaction acquirers and processors.
When the card issuer receives the transaction, they examine the unique security code to determine if the transaction is valid.
Authenticating Transactions
QSecure has developed the software for issuers to authenticate these dynamic transactions in real time.
This software can be easily integrated into an issuer's authorization infrastructure. It can determine if a transaction is unique (or a replay), if the data is submitted in order, or batched. If the data is a replay, the server can identify where and when that code was initially used and the origin of the data compromise.
Issuers can immediately detect fraudulent use of data as it occurs. In addition, they can easily and quickly identify patterns and sources of fraud without having to perform extensive analysis, block non-compromised cards or reissue cards.
Issuers can select the cryptographic algorithm used for generating the unique codes programmed onto cards during the personalization process. Only the cryptographic values are loaded onto the cards; no keys are included in the cards and keys do not need to be shared with personalization bureaus. Issuers can change algorithms or keys as frequently as they want – they are in full control.
Services
QSecure can assist card issuers with the implementation of the server into their authorization infrastructure.
For issuers who want to outsource the QSecure authorization, QSecure is establishing relationships with large processing partners who will work with QSecure and the issuer to integrate and deploy the QSecure solution. For more information on QSecure service partners, please contact us at: issuer@qsecure.com