The ease
of electronic and mobile commerce creates an incredible convenience to
consumers, many of which, however, neglect to safeguard their data when they
checkout online. The result is billions in financial losses and a significant
need for new technologies to circumvent credit card fraud and ensure
legitimate, secure payment transactions.
An
estimated 16.6 million people in the United States experienced at least one
incident of identity theft in 2012, wreaking financial havoc of $24.7 billion,
according to the most recent statistics from the Justice Department’s Bureau of
Justice Statistics (BJS). The same report shows that victims of such crimes
didn’t even realize their data had been compromised until they were contacted
by their financial institution.
Florida-based
Mobile Lads operates within this realm of wireless transactions with its line
of patented mobile authentication products designed to thwart credit card fraud
and resulting identity theft in the consumer finance, web and health payment
processing sectors.
Mobile
Lads’ technologies give users control over the authorization process when
making purchases, mitigating the risk for fraudulent activity. The company’s
xmVerify platform uses top-of-the-line cryptographic services and sends users a
transaction authorization request via mobile phone to ensure authenticity. Only
at the user’s approval will the transaction be completed.
Similarly,
the xmBilling platform addresses provides a convenient and secure way to review
and authorize automatic billing transactions, easing the challenges and
security risks associated with automated and volume-based billing.
Between
2001 and 2011, enrollment among degree-granting educational institutions
increased 32% to 21.0 million, according to data from the Institute of
Education Sciences. Given the increasing numbers of enrollment, Mobile Lads
identified incredible potential to offer its secure wireless transactions to
students and their parents.
While most
universities and colleges operate a campus card system using ID cards in lieu
of debit or cards, certain restrictions hamper its efficiency. In these
“flex-dollar” accounts, money must be transferred into the campus system within
operating hours of the campus card office; withdrawn using costly automatic deposit
machines; or online, which posts risk if the student is using a public
computer.
Mobile
Lads’ xmOne mobile platform is an alternative solution that provides encrypted
mobile services such as top-up, payment processing, emergency notification and
marketing. The product interfaces with a school’s existing campus card account
system to enable students to perform a variety of banking transactions directly
from their cell phones.
In an
increasingly mobile-dependent consumer environment, Mobile Lads is uniquely
positioned to benefit from three niches in need of secure payment and billing
options.
For more
information, visit www.mobilelads.com
About QualityStocks
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.
Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net
The Quality Stocks Daily Blog http://blog.qualitystocks.net
The Quality Stocks Daily Videos http://videocharts.qualitystocks.net
The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net
Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net
No comments:
Post a Comment