Today, MySingleLink launches its new "MSL Digital Wallet" and Smart Phone App "MSL Wallet" - a patent-pending new technology that simplifies payment processing face-to-face, online or on mobile devices while keeping all transactions safe and secure from theft.
"Anything you can put in a physical wallet, you can store into MSL Digital Wallet. You'll never have to carry a physical wallet again," said Gopal Nandakumar, President of MySingleLink. "Other companies have introduced digital wallets, but ours is unique because of its technology, accessibility and security."
The Federal Trade Commission estimates that more than 9 million Americans have their identities stolen each year. MSL Wallet will provide the needed security and save money.
MSL Wallet App is available to consumers for free download Apple Store or Android Market. Businesses can register to become an MSL Merchant. View a demo video.
"Finally, something that really works. Merchants and consumers will love it for its convenience and security," said Nandakumar. "This new technology will change payment processing for the better - a long overdue upgrade."
Other digital wallets use Near Field Communications (NFC) that requires special hardware and would work only with specific bankcards. MSL Wallet does not require any special hardware and safely works on all smart phones, with all credit/debit cards and Merchants would never receive sensitive information.
To use the app, the consumer scans a QR code displayed by the merchant to get a unique, random number with blanks. Then the consumer replaces the blanks with a unique Personal Identification Number (PIN) to create a Single Use Digital Signature (SUDS) that the merchant will use to complete the transaction. An email and text receipt is instantly shared with the merchant and consumer.
MSL Wallet App can also be used for many other applications such as logging into web sites without using a user id and password or as a guest pager at restaurants.