In working on my submission for this contest, I was looking for some more information on the security aspects of xPressTap. Specifically I am interested in how credit card fraud transpires from manually entering information online.
Today’s fraudsters would clone legitimate credit/debit cards from their victims, and manually enter the card details online to make unauthorized charges. However, cloned cards lack a critical security feature, the EMV contactless (PayWave / PayPass) technology.
With growing number of merchants adopting the patent pending xPressTap® feature, only contactless enabled authentic cards are processed quickly and securely, the fraudsters’ cloned cards will simply not work without the proper contactless circuitry. xPressTap® merchants receive significantly less loss from card fraud, and cost savings can be passed onto the customers, it’s a truly winning solution for everyone!