ID Global Solutions, a company focused on fraud management and global payment solutions, has launched IDComplete, its encrypted, real-time, multi-factor, multi-user, pin-based verification solution, to eliminate credit card fraud in the US.
The company claims that its newly launched platform can improve the security of existing non-chip and new chip cards at the issuer level by offering clients the ability to approve card present and card not present transactions in real time using their registered smartphones.
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The platform operates within the guidelines of existing Cardholder Association rules and does not require any software modifications within the acquiring network or merchant point of sale terminals, the company added.
It utilizes a token vault technology and out of band three factor authentication to enable secure real-time cardholder verification.
ID Global Solutions CEO Thomas Szoke said: "The goal of IDComplete is to eliminate card fraud, which has benefits for all players in the transaction process including issuers, merchants, consumers, acquiring banks, as well as payment gateways and mobile payment platform providers."
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