SafeNet, a global leader in information security, today announced the release of ViewPIN+, a Web-based PIN issuance solution that increases profits, prevents fraud, and saves trees.
SafeNet ViewPIN+ fully automates the issuance and delivery process of personal identification numbers (PIN). The only solution of its kind on the market, ViewPIN+ is designed to cut costs, prevent PIN fraud, and improve customer satisfaction for card issuers in retail, banking and telecom industries.
"Despite growing economic pressures and rising incidents of PIN fraud, banks and other card issuers continue to mail millions of paper letters every day containing PINs and other sensitive data to their cardholders," said Sally Hudson, research director, security products and services at IDC. "Sending PINs through traditional mail is costly, time consuming, unsafe, and hurts the environment."
Because ViewPIN+ is a fully automated Web-based solution, it eradicates paper mailers, thereby reducing card issuer operational costs and increasing their revenue by enabling cardholders to use their cards immediately. In addition, moving to a paperless PIN issuance system saves environmental resources, decreasing the carbon footprint.
"Without paper, postage, and mail processing fees, we're able to help banks and other card issuers secure their data, increase their profits, significantly reduced their customer calls requesting PIN reissues, and champion for a better environment," said René Bastien, director of payment products, SafeNet. "ViewPIN+ is a perfect example of how SafeNet provides the solutions that make banking more secure, more profitable and compliant with regulations."
With SafeNet's easy-to-use ViewPIN+, cardholders can instantly retrieve their PIN through the card issuer's website via computer or mobile devices. This improves customer experience and minimizes opportunities for cardholders to use competitor cards, because they do not have to wait for their PINs to arrive by mail, thereby driving revenues for the card issuer.
One of the greatest challenges with traditional paper PIN issuance is fraud prevention. ViewPIN+ protects the entire PIN management process from creation, issuance, and storage, to the on-demand delivery to the card issuer's website. One of the key security components of ViewPIN+ is SafeNet's FIPS 140-2 Level 3 certified Luna SP application security module, the same solution trusted by the world's largest banks, government defense departments, and Fortune 1000 companies.
Trusted to secure 80 percent of the world's interbank transfers-more than $1 trillion a day-SafeNet delivers a complete portfolio of proven solutions to protect payment processors, card issuers, acquirers, switches, merchants, leading banks, central banks, governments, and e-payment solutions providers. UBS, Lloyds, Egg, Bank of America, InstaPayment, First Data, Bank of Canada, Citibank, Barclays, the U.S. Federal Reserve, the U.S. Treasury and many other financial institutions entrust their security needs to SafeNet.