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Point-of-Sale

Point of Sale Transactions (PoS)

When making purchases either in a large retail store or in a small mom-and-pop business, identity theft is one of the biggest challenges with Point-of-Sale (PoS) transactions.   When using a POS system, it is almost impossible to track credit or debit cards which have been compromised, stolen, counterfeited or if the card holder is not present.  Hacking, theft and fraud impacts everyone in the transaction chain.

  • PoS hacking/theft is a serious and costly problem that is on the rise
  • Resulting in untold financial losses to the issuer
  • Tremendous inconvenience to the customer
  • Huge loss of sales for the merchant
  • Causes higher banking fees passed on to the customer

All of this massive financial loss, grief and inconvenience can be avoided with innovative transactional identity solutions provided by DRM.

DRM employs best practices and proven solutions with regards to credit card fraud and PoS identity theft. DRM solutions address all the important issues related to PoS transactions virtually eliminating fraud and identity theft. 

DRM offers the financial institution two solutions for their customers.

Both offerings will protect the customer as they require the customer to enter a secret PIN onto the card itself without ever typing their PIN outside the card or virtual smart device.  Purchases cannot be executed unless the customer enters their PIN number which will generate a One Time Password (OTP) to the issuer that is transparent to the customer.  If a certain amount of failed attempts are tried then the card will lock itself and the customer will be notified immediately by the card issuer.

DRM’s Solutions for Payment Processors

Payment processing companies can play a pivotal role to eliminate identity theft. DRM’s direct authenticator can be embedded with payment processing company’s gateway devices to authenticate the customer credentials prior to sending the session to the issuer for approval of funds.  The direct authenticator will simply reject fraudulent transactions originating from merchants PoS.

In both scenarios all the parties involved in the PoS chain are protected by implementing DRM Direct Authenticator in the backend and by providing the new physical smart cards or new virtual smart card for the customers.  DRM authentication offering is catered for PoS environments and as everything is moving towards mobile, cloud and SaaS, it even becomes more evident that we need to protect criminal activity right to the epicenter, “the merchants PoS terminal.”

 

 

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