mobiclear, (OTC Bulletin Board: MOBI; Frankfurt: B3CA), owner of the unique, patent pending Personal Identification Verification (PIV) solutions system to help eliminate credit and debit card fraud, said today that its PIV platform is now in operational mode and that testing is imminent.
"This is a major step forward for mobiclear and its shareholders," said Stephen P. Cutler, CEO. "mobiclear has invented and developed a process to allow customers worldwide to either confirm a card (credit, debit, ATM, prepaid) transaction using their cell phone, or to switch off their credit and debit cards, which will thwart anyone trying to commit fraud."
"Worldwide online credit fraud alone costs businesses more than $100 billion annually, according to published reports," Mr. Cutler said. "We are confident that our technology can dramatically reduce these losses."
mobiclear's CEO said that bringing the PIV system into operational mode has gone smoothly. "We are looking forward to successful test results and to the subsequent full-scale commercial operation of our system," Mr. Cutler said.