CardVerify announced availability of CardVerifyOne – an enhanced e-commerce credit card transaction and security service.
Recent news of theft of numerous credit card numbers from e-commerce sites confirms the need for CardVerify’s e-commerce approach: Consumers do not store their credit cards on individual e-commerce sites or provide a username/password combination for shopping, but rather use their credit card number every time they perform a purchase online. CardVerifyOne facilitates this process by allowing consumers to associate their cards with shipping information consisting of name and address. Consumers enter only their card details, while CardVerify provides full shipping information to the registered merchant.
Security is provided through CardVerify’s unique transaction model. Data collected by CardVerify is used only to identify the card, associate shipping information, and capture user preferences like adult content blocking. CardVerify stores only “fingerprints” of sensitive data – such as credit card numbers – on its servers; so even CardVerify does not have access to the actual card numbers. Merchants create the card fingerprint before sending it across the Internet, then obtain authorization and shipping information to complete the purchase, but do not need to store credit card information.
“Card numbers should not be stored on any e-commerce server,” said Peter Kostka, CEO of CardVerify. “Nowadays entering and transmitting card information is more secure due to ubiquitous SSL support, but storage will always bear some risks, as we have seen in recent days. Many online retailers, including Amazon.com and eToys, store credit card information to enable ‘one-click’ or ‘express’ shopping. CardVerifyOne allows use of the credit card number for one-stop shopping without usernames and passwords. You have to ask, would you leave your credit card details with every restaurant you go to and use a username/password for future visits?”
With e-commerce increasing, consumers will not be able to choose a favorite username and password combination, requiring consumers to to remember numerous usernames and to associate them with the right retailer. Changing e-mail addresses also prohibit their use as usernames. Credit cards are a natural tool for identification purposes in any online shopping situation.
CardVerify, Inc. develops e-commerce security applications in the area of credit cards.Details