Finally - No More Card Data Stored by Retailers
[author:Tom Cannon Public time:Nov 2, 2007] |
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San Francisco (Mill Valley), California
Thomas Cannon, President and Managing Director of North America, (SeerGate Ltd.) San Francisco, California, announced the completion and availability of a novel global Secure Transactions Network™ which prevents sensitive cardholder personal financial information from crossing, or transmitting between financial institutions and retailers. This unique bridge from SeerGate™, between e-commerce entities, allows parties to buy from online merchants with a uniquely secure, lower cost payment solutions for Not Internet-Ready PIN Debit Card market.
Law makers, card issuers, and consumers are holding retailers accountable for the protection of personal data. Mr. Cannon cited “numerous data breaches have led new stories for sometime, such as, the recent TJX data breach case of cardholder data breached. This and others and fraudulent transactions rising are a wake up call for retailers to take steps to reinforce the security of consumer personal and financial data.” Cannon further commented that “Retailers can face widespread negative publicity, lawsuits, lost business, and fines due to any security breach in which customer data is compromised, lost or stolen. The World Wide Web has created a virtual ‘global operating table’ for hackers to probe and steal personal data from insufficiently secure transaction methods used to date. Security steps need to take a great leap forward in transaction data security and SeerGate has raised the bar” for the benefit of all participants in a transaction. As most payment card data is stolen from retailers and other third party systems, the principle that guided the development of SeerGate™, the Secure Transactions Network™ is to keep such sensitive information vaulted where most resources are already being invested to avoid security breaches. Financial institutions focus on transaction activities and are heavily investing in safeguarding their most precious asset, their customers’ information, therefore are better prepared to deal with high volume payment card data handling.
According to Mr. Eldad Aharoni , CEO of SeerGate, “Our premise is to turn electronic payments as concern-free as in the real world, where customers feel comfortable when and what method they choose to decide to pay for purchases”. “Today, when a customer reaches the payment page of an online shop, the need to expose critical financial information or to plan method of payment, prior to the purchase presents a significant barrier for a large share of online users, affecting the real potential of e-commerce”.
SeerGate’s customer centric solution keeps the payment process simple and straightforward, avoiding common distractions and barriers that lead the most determined customer to abandon the shopping cart.
Otherinfo:Thomas Cannon at 415.871.5556 or email Mr. Cannon at tcannon@seergate.com or visit http://www.seergate.com
Printed From:http://www.free-press-release.com/news/200711/1194040124.html
Source:Free Press Release
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