iShopSecure, a privately-held company based in Davie, Florida, has launched a patent-pending technology and business process which claims to eliminate credit card fraud by enabling consumers to shop from merchant Web sites without putting their credit card or other personal information online.
The iShopSecure technology, called I-Card/CCRT (Credit Card Replacement Technology), comprises a series of software programs, servers, and business processes that acts as an automatic clearing house and intermediary between the consumer and the merchant.
To activate the technology, consumers download a small browser resident software programme, dubebd Easy Click, to use when shopping online. The software stores the user profile, up to 20 "ship-to" addresses, and automatically fills merchant order forms.
During this checkout process, the purchaser, via Easy Click, prompts iShopSecure or the credit card issuer to provide an anonymous online credit card number with a credit limit equal to the amount of the total transaction as authorised by the purchaser.
"We believe that this technology will open the doors to the e-commerce revolution," says Joseph McDonnell, chairman and CEO, iShopSecure.