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Mobile Authentication Corporation (MAC)

Summary Statement

Mobile Authentication Corp. is the Owner of the Exclusive Patent Rights for the US Financial Services Industry to US Patent #6,993,658 “The Use of Personal Communication Devices for User Authentication” used for SMS Out-of-Band, One-Time Password (OTP) generation to secure Retail Merchant Payments on the Internet and on Mobile Wallets, in addition to the physical Point-of-Sale.

Game-Changing Innovation

MAC offers a secure, true User Authentication and Payment Transaction Verification solution for all payment verticals by delivering a One-Time Password to each customer via their mobile phone using an SMS text message.

  • DynaPass -- provides secure “Two-Factor / Two-Channel User Authentication” for the mobile registration process or other system access requirements.
  • DynaPay -- provides secure “Two-Factor / Two-Channel Payment Transaction Verification” for credit, debit and prepaid card transactions.

This represents the most cost effective and convenient out-of-band security available today, and is the solution recommended by the Federal Financial Institutions Examination Council (FFIEC), the US Regulatory Agency responsible for online banking security.

Additionally, MAC has the capability of offering a custom tailored advertising message along with the secure OTP. 

  • AdPass -- delivers a call-to-action, targeted electronic advertising to the user’s mobile device, personal computer or tablet in conjunction with the One-Time Password while the user is completing their transaction - whether making purchases via online shopping cart or mobile phone.

This is a significant added value feature for online, mobile and physical Retail Merchants.  It is a unique offering in the marketplace that drives new business opportunities, and represents a new revenue stream for these Retail Merchants and their brand partners. 

MAC Technology Solution - Benefits at a Glance

The issue for Banks, Processors and Retail Merchants is to find a convenient, reliable and cost effective way to reduce fraud in ALL distribution channels, and continue to grow consumer confidence with their online and debit card payments.  The MAC solution provides the following benefits:

  • Dynamic Authentication – This technology provides Two-Factor, Two-Channel User Authentication using a One-Time Password.  This securitizes signature-based card portfolios, and provides protection against the two most prevalent forms of Internet fraud today, Man-in-the-Middle and Man-in-the-Browser attacks.
  • Hardware Tokenization – The mobile registration process creates a device fingerprint linking a specific device (the mobile phone) to a specific individual.  Together with the OTP, this meets FFIEC Standards for multi-factor authentication.
  • Ubiquitous Deployment – The same OTP solution and associated fee structure can be implemented across ALL distribution channels, whether Merchant Point of Sale, ATM Infrastructure, or Online Shopping.
  • Reduced Cost – Pricing structure is based on per transaction basis.  This is the lowest cost solution in the marketplace for true authentication.  Furthermore, no major retrofitting or replacement is needed at user point of purchase.
  • Minimize Chargebacks – The receipt of the OTP provides Payment Transaction Verification approved by the user, thereby significantly reducing potential for chargebacks.  Retail Merchants benefit from fraud loss avoidance.
  • Potential Revenue Stream – Retail Merchants can generate additional revenue through specialized call-to-action advertisements provided with the OTP while the user is completing their transaction.
  • Simple, Elegant Solution – OTP can be delivered on any model of any mobile phone that can support an SMS text message.  It is quick, reliable, cost effective, and convenient to use, at no cost to the users.

Flexible Implementation Options

The MAC technology solution is available either as an in-house solution or software-as-a-service.  MAC also provides for reseller discounts for major Payment Processors, and allows “white labeling” or “rebranding” to appeal to the reseller market.