(EMAILWIRE.COM, January 14, 2002 ) Payment Technologies Group announced immediate availability of Transact-Secure™ and CSR-Secure™ software.

Seamless integration with e-shopping carts or telephone order software will enable e-commerce and Telephone Order merchants to significantly reduce their exposure to credit card and check fraud.

Combined with “Verified by Visa technology”, this bundled solution eliminates chargeback’s from both criminal and friendly fraud by US cardholders. Authenticated transactions are guaranteed up to $5,000 per transaction.

Transact-Secure™ is used for real time e-commerce transactions and CSR-Secure™ is designed for Telephone Order transactions.

Credit card fraud from Internet transactions is expected to exceed $2 billion in 2002. “Credit card fraud in the ‘cardholder not present’ environment has always presented risk for financial institutions, processors, merchants and cardholders. But with the robust growth of the identity theft phenomenon, it’s only going to become more costly and inconvenient for everyone” observed Gerald Croghan, President. “The Transact-Secure™ system is unique in its ability to put a stop to those losses today.”

“We are experiencing unprecedented interest in both products,” said Mr. Croghan.
Merchants will see not only a reduction in the direct costs of credit card and e-check fraud, but will also benefit from the reduction of related expenses in their customer service sector and a reduction in their percentage of chargebacks. They should also benefit from increased sales because fear of fraud is the #1 reason consumers are reluctant to shop on the Internet and feedback from online consumers who’ve encountered this system has been very positive.

“This is a much more robust system than Address Verification, neural profiling or any other security schemes we’re encountered, which is why we can guarantee the transactions” Mr. Croghan advised. “It really is unparalleled”.

Gerald Croghan has been in the credit card processing business for over a decade and his company was among the first to enable merchants to process real time credit card transactions on the Internet. “While convenient for both consumers and e-merchants, the inherent risks were obvious from the beginning. All of us involved knew that a more secure solution was going to have to emerge, and we’re pleased to see that it’s here.” he stated.

The products are available to merchants directly and are also being marketed through credit card processors, ISP’s and other value-added resellers to the e-commerce marketplace.

About Payment Technologies Group.

Payment Technologies Group is located in Naples, Florida. The company’s principals have been providing both retail and online merchants with advanced payment processing solutions for several years. For additional information, contact:

Payment Technologies Group
5433 Airport Pulling Rd., Suite 126, Naples, FL 34109
941-254-0182, 877-200-8811
info@paymentechnologies.com

Contact Information:
Payment Technologies Group, Inc
gerry croghan
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