Mobiclear (OTC Bulletin Board: MOBI; Frankfurt: B3CA), owner of the unique, patent-pending Personal Identification Verification solutions system to help eliminate credit and debit card fraud, said today that mobiclear will provide security log-in protection for the Credit Card Association of the Philippines (CCAP).
mobiclear's product will protect a credit card "negative" list developed by CCAP for use by its members. The mobiclear log-in security will ensure that only authorized users will be able to access this data base. The list will be hosted by Bastion Payment Systems.
Millions of Filipinos use credit cards, charging billions of dollars in purchases annually, according to the CCAP. Its Executive Director, Elizabeth Legarda, said CCAP earlier this year appealed to the government to develop safeguards against credit card fraud, which is a growing problem.
"The 'negative' list we developed will help guarantee that fraudsters cannot abuse the system, to the detriment of both businesses and consumers," Legarda said. "The use of mobiclear's proprietary protection product will ensure that this important list doesn't get into the wrong hands."
"We are delighted to assist the CCAP in its important mission," said Stephen P. Cutler, mobiclear CEO. "CCAP is an organization of member banks which provide significant consumer protection services to the Filipino people and work to improve the economy. We are happy to play a role in these efforts."