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May 13, 2020

CyberloQ and TPML join forces to counter online payment fraud

CyberloQ Technologies has entered into a new alliance with Transact Payments Malta (TPML), a unit of Transact Payments (TPL) to counter online payment fraud.

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CyberloQ is a multi-factor authentication application for smartphones, tablets and laptops.

Under the collaboration, TPML will integrate CyberloQ’s customisable approach to data security, including geofencing protection, to provide an additional layer of security to its partners.

The companies hope that this integration will lead to the prevention of online payment fraud within multiple card networks in Europe and other regions.

CyberloQ president Chris Jackson said: “Now more than ever, the payment industry needs to be uber-vigilant in protecting client assets, personal information, while simultaneously offering a seamless user experience.

“This is the goal of CyberloQ as we collaborate with TPML and its network of programme managers, processors, and ultimately the clients of each custom card programme.”

According to Juniper Research, e-commerce merchants are expected to lose $25bn to online payment fraud by 2024.

TPML CEO Aaron Carpenter said: “CyberloQ’s patented approach to data security help clients control of their data with little to no risk for fraudulent exploitation.

“Having a mobile app that puts the consumer in control, while simultaneously protecting our brand partners from fraud, is a huge benefit for consumers, merchants and e-commerce as a whole.”

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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