Introducing Card+ App: SmartTokenization™ for Secure Online Payments
Online payment fraud is the crime most worried-about in America, and grew with the explosion of Online eCommerce, to become a $10bil problem in 2023. At CardWare, we’ve been working hard on this problem for years, and we're very excited to announce the Beta launch of the Card+ App, putting our advanced payments technology in your smart devices. We believe Card+ dramatically transforms how users feel about their cards whether paying in-store, online or over the phone, and it is designed from the ground-up to be easily integrated into merchant, issuer and bank applications with an easy to adopt SDK License program.
Key Features of Card+ App
Card+ App introduces our SmartTokenization™ technology, with multiple modes for limitations-on-use, in generating a combined Static & Dynamic-portion card numbers, each more tailored to meet different needs:
• Simpler: Generate a one-time use card with dynamic CVV and expiry date.
• More Secure: Enhance security with a one-time use card featuring dynamic CVV, expiry date, and PAN.
• Merchant-Limited: Create merchant-specific cards for added safety against data breaches.
• Time-Limited: Set custom expiry dates for subscriptions to avoid unintended charges.
• Location-Limited: Limit card usage to specified locations, perfect for travelers.
• Amount-Limited: Load a specified amount to control spending effectively.
• Amount & Recipient-Limited: Restrict usage to a specified recipient and amount.
• Amount & Recipient & Recurrence-Limited: Specifying the amount, recipient, and recurrence for regular transactions.
• Credit-Limited: Set a customized credit limits (e.g. for fleet cards, corporate cards, children’s card) to control and monitor spending.
Any stolen or phished payment information is invalid outside its limitations of use. This puts the user directly back in control of their payment information. And by eliminating traditional fixed payment numbers, Card+ directly directly addresses the risk of online fraud, skimming, phishing and data breach, reducing friction, simplifies card-on-file management at merchants, and enhances the merchant-consumer experience by elimination the pain of false-declines and accompanying cart-abandonment at checkout.
Real-World Applications
Card+ offers practical solutions for everyday scenarios:
• Secure Online Shopping: Generate a one-time use card for online purchases to prevent fraud.
• Subscription Management: Avoid unintended subscription charges with custom expiry dates.
• Merchant-Specific Cards: Protect your information even if a merchant's data is compromised.
• Location-Specific Usage: Travel with peace of mind, using cards that work only at your destination.
• Custom Credit Limits: Set a limit on your card to control spending and avoid debt.
• Custom Recurrence: Set a custom recurrence for regular transactions, or give your kids a weekly allowance.
• Custom Amounts: Load a specified amount to control spending effectively, like a prepaid card or gift card.
Card+ Cash: CBDC Implementation using FedNow
Coming soon: Card+ Cash will support various CBDC currencies including USD, EUR, GBP, CAD, AUD, and JPY, facilitating seamless and secure P2P transactions.
FedNow is an innovative instant payment service provided by the Federal Reserve, operating 24/7/365. It’s an important solution for immediate financial transactions. Card+ Cash enables users to enjoy the benefits of instant payments, without the usual transactions overheads, and it even works offline.
For a more detailed explanation of FedNow, please refer to the official website.
A Secure and Private Financial Future
With the Beta launch of Card+ App, we're not just introducing a new product; we're setting the stage for a safer, more flexible financial ecosystem. Join us in this journey towards a more secure and convenient financial future.
Sign up to receive a limited-edition Founders Edition Invitation in the mail with the registration code to join the Beta program, here : https://cardware.com/cardplus/app