Exposure to fraud is the cardholders' strongest concern about transacting on the Internet. Addressing this concern is a must for card issuers that want to attract and retain customers in the fastest-growing segment of card payments. In addition, card use increases as cardholders feel more comfortable transacting online. Last year, Internet payment fraud was thirty times higher than for other card non-present transactions. Each of the three product's functions targets specific failings of existing Internet transactions processing that exposes issuers and cardholders to fraud.
Authentication prevents identity fraud and theft.
Pre-authorization enables issuers to implement irrefutable Internet payments and monitor fraud. It also provides cardholders with greater control over their Internet transactions. Disposable card numbers protect the card account information along its travel on the Internet. Authentication can be performed by an array of devices, including digital certificates and smart cards. GlobeID GlobeID is a leading provider of Internet payment software solutions.