Technologies Used

MasterCard MasterPass

Project Team

Richard Grundy
Developer Entrepreneur
scott condron

This team is looking for

Product Manager Investor


EMV technology has been very effective at reducing offline fraud, but not so much on e-commerce. If you think online fraud is a huge problem in Latin america or even the US, we have a We have seen the rise of advanced payment security methods being introduced in high-end smartphones, namely Apple pay using fingerprint scanners. To bring this same security to the masses, our solution can be applied to any smartphone to securely authenticate online purchases. Our solution strengthens online transactions by using an EMV-like authentication for online purchases on mobile devices; this is attractive for traditional credit card holders and, with the help of MasterPass, for any unbanked customer armed with a prepaid wallet. Using a bank issued EMV contactless Card or a wearable secure NFC credential, the online customer can easily access their MasterPass wallet with our reader accessory to make online purchases as secure as offline ones. Let me show you how it works: 1) Using the browser on an e-commerce website, the user selects the item to purchase, adds it to the cart, and proceeds to checkout. 2) For payment, the user selects MasterPass, and then the Wallet App launches requesting user to tap Credit Card or other Credential against the reader. 3) Once scanned, an EMV-like authentication process is carried out with the issuing bank where card, reader, and paired device must all be present, concluding with returning pre-populated customer and shipping info to the site checkout screen as well as the one time use DSRP cryptogram. This is significantly more secure than current masterpass security methods. Next Steps In LATAM, a large segment of the population does not have credit cards and can only access the Internet through their mobile phones. We believe by integrating our solution with many mobile wallets we can specifically address this huge unbanked market, while mitigating the risk of crypto-currency alternatives. The same concept will be implemented for online transactions for desktops. The reader size will be reduced to 30x30 mm, and the price will be reduced to make it affordable so everybody will be able to carry one.


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