Security is core to the enablement and processing of electronic transactions.
Electronic commerce continues to be plagued by security pitfalls, the lack of verification information and consumer reluctance to disclose sensitive credit or debit account information over the Internet are prohibitive. Additionally, the relatively low penetration of Internet usage in Africa makes entry into online electronic commerce problematic.
Net1 U.E.P.S. technology invalidates these concerns through its patented end-to-end security protocol which ensures that any active communication can only be interpreted by the cardholder and the merchant cards. The security algorithms and audit trail further counter the risk of fraud, repudiation or non-payment through the system.
The FTS Patent has been acclaimed by leading cryptographic authorities globally as the most innovative and secure protocol ever invented to manage offline and online smart card related transactions.
Through its 2006 acquisition of Prism, Net1 gained technological expertise underpinned by cryptographic technology ensuring end-to-end bank-level security as required by financial institutions, global card associations and consumers.
Net1 has placed substantial focus on relevant and innovative product development in this area and has extended its reach from providing crypto for client type devices to offering an entire end-to-end security range of products, Prism Incognito.
More about Transaction Security
Biometric verification is any means by which a person can be uniquely identified by the evaluation of one or more distinguishing biological traits.
The Incognito Transaction Security Module (TSM) Hardware Security Module (HSM) product range is designed to provide cryptographic services for financial transaction applications, which include EFTPOS and ATM networks, eCommerce and mCommerce applications.