E-commerce

The MySecureID payment process method can be seamlessly integrated into the current electronic payment Infrastructure and requires minimal integration at the merchant level. MySecureID’s process provides an additional transparent layer of security to existing transaction fraud prevention and transaction authentication. A key benefit of MySecureID is that merchants are never in possession of the user’s credit card information. This significantly reduces the possibility of data being compromised within merchant data storage. During a transaction, the MySecureID datacenter will provide the required credit card information directly to the merchant gateway. Moreover, as opposed to current fraud ranking software responses, MySecureID’s authentication provides a "Go - No Go" response thereby eliminating the need for the manual review incorporated in existing fraud management processes.

MySecureID transmits the appropriate information using dynamic encryption and a unique authorization packet per transaction. This packet is encrypted by the MySecureID datacenter and can only be decrypted by the user’s own MySecureID USB. The encrypted packets have a one-time life cycle, and are replaced at the end of the transaction with a new authorization encryption key. Even if packets were to be intercepted, any information would be of no use to unauthorized parties. Moreover, the user PC used to complete the online transaction is solely a communications vehicle transferring data within the MySecureID infrastructure and no data is ever retained thereby eliminating a possible source of data vulnerability.

By building the MySecureID USB into the checkout process, easily accomplished by the merchant via the toolkit to be provided by MySecureID, the MySecureID USB represents a fast and easy process for gateways, processors and merchants to verify user identities. In addition, by allowing the consumer to checkout via the USB automated checkout process, MySecureID will auto complete the checkout based on the secure account, shipping and credit card information stored inside. This facilitating feature will dramatically increase the order completion rate, as well as increase customer service and consumer confidence levels.

Benefits to Merchants

• Reduction in online fraud
• Creates new layer of security against credit card theft and fraud
• Reduction in the overhead and administrative costs related to fraud detection
• Enhanced consumer shopping experience
• Increases consumer confidence and purchasing volume
• Technology licensing revenues for parties in the online supply chain
• Chargeback protection

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