Fraud prevention tool for financial institutions successfully passes recertification according to EuroPriSe
London based ValidSoft UK Ltd is awarded with the European Privacy Seal for its IT product VALid-POS standard edition v2 once again.
VALid-POS is a tool to assist financial institutions such as banks or payment processors in identifying possibly fraudulent credit- and debitcard “card-present” transactions at automated telling machines (ATMs) and at point of sale (POS) terminals, as used in supermarkets, retailers, restaurants, etc. Basically, VALid-POS verifies, with the help of a partner telecommunications service provider (TSP), whether the card that is being presented is in the same country or area as the mobile phone that the cardowner has registered with the bank.
The re-evaluation that was performed by EuroPriSe Legal Expert Prof. Douwe Korff and EuroPriSe Technical Expert Javier Garcia-Romanillos Henriquez de Luna showed that VALid-POS continues to meet all applicable EuroPriSe requirements.
The current recertification is already the third successful recertification of VALid-POS according to EuroPriSe.
Further information about the recertification is available here.