Online Credit Card Fraud - Online Merchants

Posted by Tony McGann (142.177.95.20) on June 18, 2002 at 14:44:59:

This message is posted as a means to validate a business solution that that my company offers. It is not intended to drum up direct business but simply to derive feedback and comments from interested readers & merchants on this forum.

This email is intended to seek your validation on a product that we intend to distribute to financial institutions and online credit card processors. We believe that the ultimate benficiaries of our solution would be online consumers and internet merchants. As a company involved in this market, your input is highly valued.

We have developed patented voice recognition technology (S**** Server) to enable online credit card processors to authorize and track credit card transactions for online purchases. The system provides an additional layer of security for both consumers and merchants from credit card fraud and chargebacks.

S**** Server works by recording the voice pattern of the individual using a credit card and matching it uniquely with their credit card number. Their is a short enrolment process used to identify the cardholders voice 'biometric'. From that point, only that person will be allowed to make purchases on that card. If someone else attempts to make a purchase using the same card, then the transaction gets refused by Spike Server. The person who made that illegal attempt would also have their voice pattern tracked and potentially flagged if they tried to make any future online purchases.

This entire registration and authorization process is a toll free phone call and answering 3-5 simple questions. 45-60 seconds long.

Questions I would have for online merchants would be;

1) Do you see value in this type of system?
2) Would your customers/clients see value in this system?
3) What limitations or advantages would you envision for Spike Server?
4) Would you be intersted in seeing a demonstration of our product?
5) Is there someone else in your organization who would have greater interest in this product?
6) Do you have any questions or comments to make?

Please feel free to email me directly for comments or questions.

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