IT GlobalSecure, Inc. announced the availability of its SuperPIN password technology. This innovative and low-cost security technique addresses the most common problem with credit card, bank and other financial transactions: one-time fraud by clerks, waiters, call center employees, and other intermediaries. It is more robust against attempted theft and fraud, and is implemented by straightforward manual procedures easily used by any consumer or financial transaction processor.
Like regular passwords and PIN systems, SuperPIN can be used for face-to-face, online, and even phone-based transactions. SuperPIN works by taking a regular PIN or password, divides it into several pieces, and shuffles in some other sets of random letters or numbers.
The most powerful feature is that even if a crook gets access to a SuperPIN, they won’t be able to use it for their own purposes. If they try, there is an excellent chance they will be caught. Consumers create a new SuperPIN from their password for every new transaction. This creates an audit trail that both protects transactions and helps catch criminals.
“SuperPIN doesn’t solve every security problem. Instead, by focusing on the most pervasive problems, financial institutions get most of the security benefits for a fraction of the cost of smart cards and other high-tech strategies,” said Cheryl Campbell, President. Many other credit card and authorization solutions only work for either face-to-face or online transactions.