85% of Americans in wealthier households now consider card theft from a merchant as their biggest crime risk and 27% of Americans have experienced the anxiety and hassle of card theft in the past year. By 2018, losses to banks and merchants from credit card fraud are projected to reach USD 19 billion.
PocketKey is a digital device that enables true end-to-end encryption for ecommerce (card not present) payments. The device eliminates the possibility of fraud by encrypting payments before they enter your computer or smartphone, and keeping them encrypted as they pass through merchants, gateways and card networks, until they reach the card issuing bank.
The core problem with credit and debit cards is that the standard 16-digit number can easily be compromised, copied or even guessed – and subsequently used by thieves. PocketKey replaces the 16-digit number with a one-time use 75-digit number and encodes information specific to the transaction within the payment itself. Even if the payment number is stolen, it will be completely worthless to thieves because it is bound to a single merchant and unique transaction or customer account. For online payments, the device plugs into a computer through a USB port or into a mobile device through the headphone jack.
Pocket Systems was founded with a single purpose, to completely eliminate ecommerce credit card theft and fraud by creating payment tokens that cannot be stolen, because they are encrypted before entering your computer or smartphone. Payments generated with our PocketKey device are bound to a single merchant and unique transaction or customer account. They cannot be stolen at any point or used for any other purpose.
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