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NewProducts
Ping Company: Ping Mobile 2 Credit
Mobile Product: Ping Mobile 2 Credit
2 Website: www.pm2c.com
Credit Contact: shasha@pm2c.com
Secure, simple mobile payment verification
os Angeles-based Ping Mobile 2 Credit is an app- Leveraged, triangulated technologies
supported mobile security solution designed to
prevent fraud before it happens. The solution The Ping Mobile 2 Credit app includes phone number
L can work as a stand-alone mobile app or as an lookup, text message confirmation and cellular tower
integral component of an existing POS software platform. triangulation capabilities. These combined technologies
Ping Mobile 2 Credit can be integrated into a range of are designed to work together to reduce chargebacks and
hardware and software platforms. Its technology, which protect payment industry stakeholders from lost revenue,
works on Android, iOS and Windows smartphones, is not data breaches and other liabilities associated with payment
tied to any particular reward system or brand. card fraud.
The app transmits a phone's location to a merchant Despite continued improvement to payment card security
acquiring bank and a retailer. The phone initially picks methods, many POS systems are still vulnerable to
up a signal from a store's router which prompts a secure malware, hacking, and man-in-the-middle attacks. Mobile
session of mobile messaging between the smartphone and payment systems and EMV transactions do not protect
router. A series of mobile pings notify the bank and retailer consumers from identity theft.
when a user approaches a checkout lane. Many checkout
lanes have unique service set identifiers that continually Location pings transmitted through secure cellular
broadcast signals, even when they are not connected to the networks can further protect existing POS infrastructures.
Internet. Additionally, the application's customizable controls and
pre-set purchase parameters can help to prevent the
Two checkout scenarios occurrence of fraudulent mobile wallet transactions, the
company noted.
Ping Mobile 2 Credit Chief Executive Officer Shasha Guan
said a recent spate of high-profile data security breaches "We use location acquisition pings and API that are
formed the inspiration for establishing Ping Mobile 2 transmitted through secure cellular communication
Credit. Guan and her team wanted to create an extra layer networks that operate apart from the POS transaction
of security that would work with all payment systems, process," Guan said. "This independent, parallel process is
processors and payment schemes. The app is compatible our principal differentiator."
with Europay, MasterCard and Visa (EMV), near field
communication and mobile wallet technologies. Channel partner opportunities
"I wanted to come up with an inexpensive way to protect Ping Mobile 2 Credit said it is committed to protecting the
consumers everywhere they go and stop fraud before it general public from security data breaches and identity
even happens," Guan said. "The heads-up mobile pings theft while promoting safe credit card transactions
that are customized by each user help to validate card- throughout the greater payments ecosystem. The service
based transactions by establishing the smartphone's is free to consumers.
location."
Ping Mobile 2 Credit also pointed out that its subscription
When they receive signals, acquiring banks match Ping model adds functionality to existing payment applications
Mobile 2 Credit payment cards with their corresponding and includes regular feature updates. The company
credit cards registered in the database. If a match is found, won the Southeast Acquirers Association's WhoDat2015
the cardholder is authenticated, and there is no need for Innovation Award and is actively expanding its reseller
a clerk to check identification or ask for a signature. If a distribution network.
match is not found, the app will ping the phone location,
text the cardholder for transaction approval and notify the
acquiring bank.
54
Ping Company: Ping Mobile 2 Credit
Mobile Product: Ping Mobile 2 Credit
2 Website: www.pm2c.com
Credit Contact: shasha@pm2c.com
Secure, simple mobile payment verification
os Angeles-based Ping Mobile 2 Credit is an app- Leveraged, triangulated technologies
supported mobile security solution designed to
prevent fraud before it happens. The solution The Ping Mobile 2 Credit app includes phone number
L can work as a stand-alone mobile app or as an lookup, text message confirmation and cellular tower
integral component of an existing POS software platform. triangulation capabilities. These combined technologies
Ping Mobile 2 Credit can be integrated into a range of are designed to work together to reduce chargebacks and
hardware and software platforms. Its technology, which protect payment industry stakeholders from lost revenue,
works on Android, iOS and Windows smartphones, is not data breaches and other liabilities associated with payment
tied to any particular reward system or brand. card fraud.
The app transmits a phone's location to a merchant Despite continued improvement to payment card security
acquiring bank and a retailer. The phone initially picks methods, many POS systems are still vulnerable to
up a signal from a store's router which prompts a secure malware, hacking, and man-in-the-middle attacks. Mobile
session of mobile messaging between the smartphone and payment systems and EMV transactions do not protect
router. A series of mobile pings notify the bank and retailer consumers from identity theft.
when a user approaches a checkout lane. Many checkout
lanes have unique service set identifiers that continually Location pings transmitted through secure cellular
broadcast signals, even when they are not connected to the networks can further protect existing POS infrastructures.
Internet. Additionally, the application's customizable controls and
pre-set purchase parameters can help to prevent the
Two checkout scenarios occurrence of fraudulent mobile wallet transactions, the
company noted.
Ping Mobile 2 Credit Chief Executive Officer Shasha Guan
said a recent spate of high-profile data security breaches "We use location acquisition pings and API that are
formed the inspiration for establishing Ping Mobile 2 transmitted through secure cellular communication
Credit. Guan and her team wanted to create an extra layer networks that operate apart from the POS transaction
of security that would work with all payment systems, process," Guan said. "This independent, parallel process is
processors and payment schemes. The app is compatible our principal differentiator."
with Europay, MasterCard and Visa (EMV), near field
communication and mobile wallet technologies. Channel partner opportunities
"I wanted to come up with an inexpensive way to protect Ping Mobile 2 Credit said it is committed to protecting the
consumers everywhere they go and stop fraud before it general public from security data breaches and identity
even happens," Guan said. "The heads-up mobile pings theft while promoting safe credit card transactions
that are customized by each user help to validate card- throughout the greater payments ecosystem. The service
based transactions by establishing the smartphone's is free to consumers.
location."
Ping Mobile 2 Credit also pointed out that its subscription
When they receive signals, acquiring banks match Ping model adds functionality to existing payment applications
Mobile 2 Credit payment cards with their corresponding and includes regular feature updates. The company
credit cards registered in the database. If a match is found, won the Southeast Acquirers Association's WhoDat2015
the cardholder is authenticated, and there is no need for Innovation Award and is actively expanding its reseller
a clerk to check identification or ask for a signature. If a distribution network.
match is not found, the app will ping the phone location,
text the cardholder for transaction approval and notify the
acquiring bank.
54
