eSafe
Security has always been a major concern in card based transactions. To put things in perspective, Indian card companies lost INR 937 million due to card frauds in 2006, up by 42% from a loss of INR 660 million in 2005. (Source: Euromonitor 2007). Unlike ATM transactions, online transactions normally do not support two factor authorizations thus increasing the chances of frauds, The One Time Password (OTP) based method provides some level of protection however, the popularity of these methods is moderate due to prohibitive costs and implementation issues.
E-safe secures the credit card transactions by providing a layer of authentication and strong encryption thus encouraging the consumer to do more transactions online in turn helping to prevent frauds and losses for banks and enabling merchants to boost the bottom line.
MoFirst has developed a revolutionary technology (patent pending) to complete e-commerce transactions without having to divulge financial data. It strengthens the two factor authentication approach by providing an out of band channel.
Scalability with a cost effective and fast rollout makes it a compelling proposition for the financial institutions looking to add that extra layer of security.
Features
Security has always been a major concern in card based transactions. To put things in perspective, Indian card companies lost INR 937 million due to card frauds in 2006, up by 42% from a loss of INR 660 million in 2005. (Source: Euromonitor 2007). Unlike ATM transactions, online transactions normally do not support two factor authorizations thus increasing the chances of frauds, The One Time Password (OTP) based method provides some level of protection however, the popularity of these methods is moderate due to prohibitive costs and implementation issues.
E-safe secures the credit card transactions by providing a layer of authentication and strong encryption thus encouraging the consumer to do more transactions online in turn helping to prevent frauds and losses for banks and enabling merchants to boost the bottom line.
MoFirst has developed a revolutionary technology (patent pending) to complete e-commerce transactions without having to divulge financial data. It strengthens the two factor authentication approach by providing an out of band channel.
Scalability with a cost effective and fast rollout makes it a compelling proposition for the financial institutions looking to add that extra layer of security.
Features
- Mobile based strong two factor authentication for e-commerce
- No need to enter your credit card or personal details online
- No SMS/GPRS connection required. Minimal dependence on the mobile operator
- Intuitive and provides rich customer experience
- Supports multiple credit cards
- Security: Strong two factor authentication supported by the highest encryption technology
- Identity verification: Easy verification of the source of the request even for "Card Not Present" scenario
- Speed: Completion of the transaction is instantaneous.
- Easy Integration: Simple API for quick integration with the existing gateway
- Cost effective: No paying of premium charges for communication, no hardware distribution costs