Q&A Interview; How ID Global Solutions (OTCBB:IDGS) Plans to Provide
Global Business and Consumers Fraud Protection and Mobile Payment Solutions
New York NY - Point Roberts WA - October 7, 2015 - Investorideas.com
(www.investorideas.com)
a global investor news source covering leading sectors including tech and
mobile payments issues an exclusive interview with Mr. Thomas R. Szoke,
President/CEO of ID Global Solutions (OTCBB:IDGS). The company’s core focus is in fraud management
and payment solutions. Thomas explains his company’s mission and gives insight
as to where he sees the market is headed and how his company plans to establish
a dominant role in this space.
Interview:
Read in full at http://www.investorideas.com/CO/IDGS/news/2015/10071.asp
Q: Investorideas.com
For investors that don’t
know your company can you give them an overview of IDGS, your various divisions
and your products and services portfolio in mobile payments and fraud protection?
A: Thomas R.
Szoke – President/CEO
IDGS provides multi-functional secure payment
solutions for open and closed electronic payment transaction networks. The
company is focused on the growing need for fraud protection and identity
verification solutions. ID Global Solutions
was founded to pioneer key innovative approaches for the development,
integration, and delivery of advanced digital identification and payment
solutions.
Fraud Management and Payment Solutions are the two
focus areas for IDGS. Within Fraud
Management, the company offers unique Identity Verification solutions for
Financial Services Organizations (IDComplete) and Governments
(IDSolutions). IDComplete provides a
secure real-time method for cardholder verification to eliminate fraud. IDGS’ IDSolutions portfolio offers software
and hardware products to deliver a wide variety of identification and
verification capabilities for civilian as well as governmental applications.
Our Payment Solutions portfolio includes MultiPay,
OnePay, and PaySpot. MultiPay provides
end-to-end payment transaction processing technology. OnePay is a closed payment
solution using a secure digital currency enabled by our mobile applications and
backend systems for consumers and merchants in emerging markets. PaySpot is an
unattended multi-functional payment collection and processing kiosk solution.
Q: Investorideas.com
Can you explain IDComplete’s
impact on the payment process, the issuing bank, and ultimately how the consumer
is impacted to eliminate fraudulent transactions?
A: Thomas R.
Szoke – President/CEO
IDComplete aligns to all industry standards. IDComplete does not impact existing players
or processes within the acquiring network external to the issuing bank. Today, prior to a transaction being
authorized, issuing banks determine the approval of the transaction based
primarily on the account status of the cardholder. There are other criteria
employed by issuers to determine fraud that are predictive in nature including
buyer behavior pattern, location, merchant type, and the transaction amount.
IDComplete compliments these by providing real-time
cardholder verification. This is done in
parallel to the issuer authorizing the transaction based on cardholder status.
IDComplete is triggered to deliver a notification to a registered mobile phone
to approve or deny an active transaction.
Within the notification is the date, merchant’s name, and the
transaction amount along with the option to “approve” or “decline” the
transaction through a proprietary secure pin delivery method.
Q: Investorideas.com
A lot of the big tech
giants are entering the mobile payment and credit card and identity fraud
protection space such as Apple, Samsung, and Google. Everyone has a different
approach with levels of security in biometrics and other security measures so
what differentiates your company’s technology and how can you compete?
A: Thomas R.
Szoke – President/CEO
Our solution has been built to eliminate card
fraud. IDComplete is the only product in
the market that provides real-time verification of identity in a proactive
manner. All existing fraud prevention
approaches in the market are re-active and do not prevent card fraud in
real-time. For example, sending a SMS or
push notification after a transaction is complete asking the cardholder to
contact the issuer in the event of fraud is re-active. Today, cardholders are put into a position to
reconcile their transactions whereas IDComplete offers the ability for the
cardholder to police their transactions by embedding cardholder verification in
real-time prior to any transactions being processed.
Q: Investorideas.com
As someone in the sector,
can you give us some insight and perspective as to where you see card fraud trends
heading both in the US and globally?
And on that note, where is your primary focus geographically?
A: Thomas R.
Szoke – President/CEO
As a backdrop, global card fraud exceeded $16
Billion in 2014, which analysts forecast to exceed $35 Billion globally by 2020. In 2014, approximately $8 Billion of card
fraud loss occurred in the USA and half of $8 Billion card fraud occurred
during card not present (CNP) / online purchases. This equates to more than $4 Billion of collective
loss to issuers, cardholders, and merchants.
IDGS’s geographic focus is to roll out our IDComplete
solution for eliminating card fraud in the US market. Our initial strategy is
to focus on the card not present (CNP)/ online purchases because they are not
being addressed by the implementation of the new EMV standards.
Q: Investorideas.com
You recently announced a
deal with MultiPay SAS, which is headquartered in Bogota, Colombia (http://www.multipay.com.co/). Can you give us a brief background for new
investors and an update on the progress of the company?
A: Thomas R.
Szoke – President/CEO
Multi-pay S.A.S. is a well established
multi-functional payment gateway company providing traditional credit card
processing services, domestic and international wire transfer services, mobile
operator pre-paid account re-charge services, and various closed system payment
solutions for numerous customers in Colombia and Peru. Since the acquisition the company has been
integrated into the IDGS structure and has expanded it’s core engineering and
delivery teams to increase the capabilities of our platform and deliver more
services to new and existing customers. In addition, since the acquisition the
company has secured additional contracts with banks and enterprise customers
for money transfer and payment processing services.
About ID
Global Solutions Corporation (OTCBB:IDGS) - Fraud Management
and Payment Solutions
IDGS provides
multi-functional secure payment solutions for open and closed electronic
payment transaction networks. The company is focused on the growing need for
fraud protection and identity verification solutions. ID Global was founded to
pioneer key innovative approaches for the development, integration, and
delivery of advanced digital identification solutions.
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