Creditel Partner with SafeNet

Thursday 20 May 2004 10:08 CET | News

Creditel has partnered with SafeNet, to introduce the new standard for security in wireless credit card processing.

Creditels mobile credit card machine, the PowerSwipe, utilizes Creditels patent-pending advanced digital Secure Swipe Technology for data encryption. This technology, developed in conjunction with SafeNet, is specifically designed to guard against credit card skimming and identity theft, and is not available in any other mobile or stationary POS device. With PowerSwipe, transactions are authorized and verified in seconds and can support a fax or email transaction record or print a standard receipt to a wireless printer. Creditel offers a secure end-to-end payment processing solution for use anywhere the network is available. The PowerSwipe point-of-sale (POS) device makes it fast, easy, and affordable for retailers, transportation companies and other mobile businesses including electricians, plumbers and delivery personnel to securely process credit cards directly from their Java technology-enabled Motorola i50sx, i55sr, i58sr, i85s and i88s mobile phones. The PowerSwipe protects sensitive data using U.S. Government level FIPS 140-2 compliant Internet Protocol Security (IPSec) VPN technology and a patent-pending authentication process with 164 bit Triple-Des encryption with regular key exchanges. The Secure Swipe technology protects sensitive credit card data at the swipe before it enters the handset, rendering the data unrecognizable to other applications or employees attempting to capture credit card information from the data port, making the PowerSwipe device more secure than other mobile POS device. Identity theft happens when a person intending fraud obtains the information necessary to assume the identity of another person. Credit card skimming is often the initial foray to identity theft. The criminal then uses the new identity to fraudulently open bank accounts, credit card accounts, obtain loans and make purchases. It is estimated that more than 33 million Americans (1 in 6 adults) have been victims of identity theft since 1990 according to a survey by Privacy & American Business and Consumer Reports magazine. As many as seven million Americans were victims in 2002 alone. Creditel began the nationwide rollout of Secure Swipe Technology in January of this year to mobile merchants nationwide including, transportation services, electricians, plumbers, landscapers and other merchants in the field. PowerSwipes sleek, rugged form-fit design easily connects to the Motorola mobile phone for unobstructed comfortable use. Weighing a mere 3.1 ounces its technological capacity is far greater than its tiny weight. Enclosed is a magnetic stripe reader, powerful encryption technology, infrared printing port, and pass-through connector for charging the handset battery in a simple integrated package.

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Keywords: ,
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce