Credit card payments fraud is a well-recognized issue to both card holders and card issuers. Over the last several years, many improvements have been made to ensure the highest level of security among credit card payment transactions. Among the recent ones, EMV technology, or, simply speaking, chip cards, have become the industry standard, now successfully implemented by most major credit card institutions (VISA, American Express, Master Card, etc.).
Imagine that we are all able to do online shopping at home, coffee shops, airports, hotels and other places using one unique password and just quickly tap our own credit card on our cellphone or personal computer with no worries that someone might steal our credit card information. People will be able to do online shopping sitting at coffee shops and feel safe to connect to the Public Wi-Fi network and no one will steal their info even while being on the same network. The coffee shop on the corner is one thing; the same will happen with libraries, airports, hotels with FREE OPEN WI-FI.
Currently, a consumer follows this scenario when purchasing online: The credit card information is entered online and sent to a merchant (an online store) through a common server. Anyone who owns the credit card information or obtained access to it can make the purchase – a cause of online fraud With Securter’s technology, a consumer will follow a different scenario: The credit card information is NOT entered online and the confidential credit card information is not used to confirm payment transactions. The transaction is confirmed according to EMV technology by generation by credit card's chip the "transaction certificate" (cryptogram)…
Securter is a private Canadian Corporation developing a payment platform that enables making convenient and safe online payments. Securter company’s team consists of people with high degree of expertise in area such as: credit card and real-time transaction processing, EMV payment technology, data encryption and project management.
Milestone #1: Project validation from experts and advisors from venture LAB; YEDI program at York University-Schulich School of Business; MaRS and other professionals.
Milestone #2: Working prototype of Securter ‘s System : Architecture, Software and Server-side.
Milestone #3: Submitted a Provisional patent - USPTO
Milestone #4: On July 2016 signed a collaboration agreement with potential distributor. Payment processing company with over $3 billion dollars volume settled this year.
Milestone #5: Submitted a PCT international patent application, covering general elements and functionality of the payment and authentication system, related protocols and algorithms.