|By Business Wire||
|April 16, 2014 12:13 PM EDT||
Eagle Point Network is marketing the Anti-Fraud Card technology for credit cards, debit cards and all other forms of payment cards. This new technology is The Secure Card www.securecard.net and was developed by Harry Williams, the President of Major Financial Services.
The Secure Card Technology will virtually eliminate fraud and misuse of credit and debit cards that are lost, stolen or breached from third parties. The Secure Card technology is available immediately for banks, issuers and card networks such as Visa and MasterCard.
“The strength of our technology is that it puts the consumer in charge of their own security by using a simple app on their phone,” says Harry Williams the original architect of the technology. “The Secure Card technology also works using their physical card or in an ecommerce transaction,” according to Mr. Williams. Mr. Williams also indicated that The Secure Card would have protected consumers from fraudulent charges as a result of the recent breaches of cardholder information from Target.
The major card networks are looking to the last quarter of 2015 before they require issuers and merchants to start accepting smart chip cards. Smart chip cards, also, known as EMV cards will not prevent fraudulent use in card-not-present or ecommerce transactions.
The cost to merchants and banks will be significant with no increase in security for ecommerce or online transactions. The Secure Card technology can be deployed quickly and is far less costly than the conversion to EMV/smart card technology.
About Eagle Point Network
Eagle Point Network markets a suite of financial solutions that manage their data, process financial transactions, pay vendors and employees and take better control over travel and entertainment expenses. Eagle Point Network focuses on technology that provides maximum security and reduces cost and overhead for the CFO and Treasurer.