Dedicated to compliance and fraud prevention Passport Technology introduces new technology in the United Kingdom, Europe and Canada
Passport Technology, Inc., adds another level of security in transaction processing by applying strict verification methods and disallowing fallback transactions. Fallback transactions originate in the card-present environment with contact chip cards, however chip technology is sidestepped and not used to capture the card data, which results in the technology “falling back” to a magnetic stripe transaction. Because the chips on the cards rarely fail, some fallback transactions are intentionally created to fraudulently access cardholders’ accounts.
Passport Technology, Inc., is committed to fraud prevention and does not allow for fallback transactions. Instead, Passport Technology, Inc., utilizes AVS and CVV2 systems for verification and adheres to the highest levels of security in compliance with PCI standards.
“Passport Technology is committed to ensuring our Cash Access Services do not encourage inappropriate behavior within our customers establishments” states Kurt Sullivan President/COO. “We continue to improve our products defenses in an ever changing payment industry.”
Further demonstrating Passport Technology’s dedication to secure transaction processing and compliance, CashValet delivers rich and dynamic feature functionality to better manage Anti-Money Laundering (AML) requirements and responsible gambling initiatives, along with a robust security layer and the industry’s smartest payment infrastructure. Passport Technology, Inc., is committed to data protection and privacy in compliance with GDPR.
“The recent focus on personal privacy is a topic we take very seriously at Passport Technology,” states Max Aceituno, Data Protection Officer. “Our team is able to move quickly in integrating the right levels of compliance and security into our products relating to the various international markets in which we operate.”
Passport Technology has experienced impressive growth in the United Kingdom and Europe, driven by a commitment to securing high-value patron data by utilizing separate data regions in the United Kingdom, Europe and Canada. The company commitment to data security and protection is recognized in the industry, with Passport Technology receiving the 2018 Payment Service or Solution Provider Award from Gambling Compliance Global Regulatory Awards. Passport Technology’s exemplary record and global recognition has the company poised for further international expansion.
About Passport Technology Inc.
Passport Technology Inc. is a leading developer of technology-based products and services for the highly regulated payments, gaming and financial services markets. The company's international portfolio includes attended payment kiosks, cash access systems, server and web-based analytic technology, agnostic application management systems and interactive content and services.
For more information, please visit passporttechnology.com.
Corbin Dowty, Director, Investor Relations
Passport Technology Inc.