And the minimum installation time for banks to implement either SecureClick or O-powered technology is about 12 weeks. Amex already has a finished product on its Web site. Although Cyota and Orbiscom claim to be working with domestic issuers, they're reluctant to name any at this time. So in this regard, the launch of Private Payments marks the first public U.S. deployment of this technology. Rather, he says the key to larger acceptance of this technology is efficiency.
Issuers have to convert the phony number into the real number.
This costs money. Companies like Orbiscom and Cyota will need to make the argument that this will increase issuers' operating efficiency. Fraudsters usually start with one bit of information and build from there. By protecting the card number, it's a step in the right direction. Products like the aforementioned require little, if any, work from those involved.