SAN MATEO, Calif.--(BUSINESS WIRE)--Chip Shield demonstrated their consumer focused personal chip card reader for the first time at the FinovateSpring 2016 Conference in San Jose, and announced general availability of the product in Summer 2016 with an introductory price of just $20.
The Chip Shield Reader fits in the palm of your hand and connects to desktop computers over USB and mobile devices over the audio connector. The device works with any credit or debit chip card, and with the Chip Shield Web Assistant, it can provide enhanced security for any online shopping or banking site without any changes to those sites.
David Marsyla, Founder and CEO of Chip Shield commented: “We’ve all been getting these new chip cards from our banks to help with fraud in stores, but when we go online, we type in the same old 16-digit card number or use logins and passwords that can be easily stolen by viruses and phishing attacks. It’s time to start extending chip based security to protect us online and reverse the rapid growth of fraud and identity theft.”
Chip Shield leverages the encryption technology built in to your new bank card to generate unique private key signatures that will unlock your online accounts and personal data only when your card is inserted into the Reader.
The Chip Shield Web Assistant securely injects payment data into merchant websites and eliminates all manual data entry. This helps protect customers from computer viruses that track keyboard input and accelerates the check-out process down to a few seconds. The Assistant can also manage all of your online account passwords and provide extended authentication to protect online banking sites.
Chip Shield is integrating their products with bank Tokenization systems to generate dynamic, merchant specific card numbers for each purchase. These Virtual Account Numbers mask your actual credit card number and provide custom charge limits and expiration dates to protect you from merchant data breaches.
According to Javelin Research, the introduction of EMV chip cards in retail stores is pushing fraud online and losses from e-commerce and account takeover fraud could exceed $25 billion in the next few years.
At Chip Shield, we’re dedicated to reversing these fraud trends and protecting your online payments and identity.
Sign up for Chip Shield Early Access at http://www.chipshield.com.
Banks interested in branded versions for their customers can visit http://www.chipshield.com/bank-solutions or contact us at partnerships@chipshield.com.
About Chip Shield
Chip Shield is based in San Mateo, CA and was founded to provide customer focused solutions for secure online payments and identity, while simplifying and accelerating the online experience.
Learn more at http://www.chipshield.com.
About FinovateSpring
FinovateSpring is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology. Held in San Jose, the event offers an insight-packed glimpse into the future of money via a fast-paced, intimate, and unique format. FinovateSpring is organized by The Finovate Group. For more information on the event or to view videos of previous demos, please visit http://finovate.com.
PRESS CONTACTS
Members of the press interested in our solutions can visit http://www.chipshield.com/press to download our press kit or contact us at press@chipshield.com.
