Credit/Debit Card Fraud on the rise globally
Credit/Debit card fraud and personal identification number (PIN) theft is on the rise around the globe at ATM locations. Criminals will shoulder surf in order to learn your credit card and PIN information and sophisticated criminals will apply skimming techniques by inserting a device onto the ATM machine which may look part of the ATM to the customer.
RST Technology Security Solutions for ATM vendors
RST Technology works closely with issuers and ATM vendors deploying the next generation of ATM machines to enable strong two factor authentication. Major ATM vendors have improved the design and functionality of their machines to accommodate RST Technology’s authentication solution. To improve security, the improved process will require ATM users to enter their PIN and a one-time password (OTP) at the ATM display screen, thus employing 2 factor authentication ensuring a much more secure theft-proof transaction.
RST Technology’s Physical Authentication Pin Pad Smart Card
RST Technology offers the new Physical Key Pad smart card for 2 factor authenticated ATM transactions.
- The customer swipes their card and then enters the PIN information on the card itself.
- When the correct PIN is entered, the small LCD on the smart card will then display an OTP.
- When the OTP is entered correctly, the transaction will be authenticated and approved.
The Physical Smart Card has a denial-of-services feature which will disable the card after a certain number of failed attempts and will immediately notify the customer and card issuer.
RST Technology’s Virtual Smart Card
Utilizing another RST Technology solution, the customer can employ their mobile device and RST Technology’s new virtual smart card and scan it at the ATM terminal.
- Upon the initial scan, a PIN number will be required to be entered on the mobile device by the user.
- When the correct PIN is entered, the mobile device will then display an OTP.
- When the OTP is entered correctly, the transaction will be authenticated and approved.
The Virtual Smart Card has a denial-of-service feature which will disable the card after a certain number of failed attempts and will immediately notify the customer and card issuer.
RST Technology understands the security requirements needed to thwart ATM identity theft and offers state of the art solutions to banks and ATM manufacturers to mitigate the loses of credit card fraud.