QSecure Introduces Its Latest White Paper
Shifting the Anti-Fraud Paradigm:
A Revolutionary Way to Secure the Credit Card Magstripe without Changing the Acceptance Infrastructure
How QSecure’s Vision Addresses a Core Credit Card Industry Problem
For over 30 years credit card security has been an ongoing challenge and threat in the Financial Services industry. A payment card’s magnetic stripe allows faster transactions, improved accuracy and security, yet the magstripe also allows fraudulent use of card data. When the magstripe data is compromised, criminals can access credit lines, and debit account numbers to perpetrate fraud. The result - billions of dollars lost annually to issuers and merchants, as well as distress for consumers to protect their identity and credit history.
Now, one company, QSecure, Inc. has invented the SmartStripe™ solution that fights fraud by allowing each payment card transaction to become unique, without changing the existing acceptance infrastructure or POS terminals and ATMs worldwide. A SmartStripe enabled card eliminates the key weakness of the static nature of a magnetic stripe by adding security and retaining convenience. The SmartStripe technology transmits dynamic numbers to the issuer’s back end transaction approval process, allowing each cardholder’s payment transaction to be unique, and if this data is ever reused or compromised in the future, then it can be easily detected and blocked in real time without changing merchant terminal systems.
QSecure’s SmartStripe solution solves the magnetic stripe fraud crisis that has existed for over 30 years. It shifts the fraud paradigm of the market from static magstripe data, which never changes and is nearly impossible to secure to a dynamic magnetic stripe which secures data for each card transaction. It is a quantum security shift for payment cards, that revolutionizes the industry to the next generation in preventing payment card fraud, and eliminates the key weakness associated with the re-use of stolen magnetic stripe card data.
About QSecure, Inc.
QSecure is a payment platform company that was founded in 2003. Our SmartStripe™solution provides electronic powered cards that reduce payment fraud for issuers, merchants and consumers without changing retail systems or cardholder behavior.
Our patented, dynamic device and authentication solutions are designed to allow card issuers to protect magstripe card data without requiring changes to existing card processing environments.
