Last weekend’s Internext show in Hollywood, Florida served as a launching pad for many new products and programs. Among the new companies making their American debut was Canadian-based myVirtualCard.
“Internext 2003 was a huge success,” said myVirtualCard President Norton Burah. “A phenomenal number of merchants we met with are interested in working with us and we are working on finalizing these relationships right now.”
MyVirtualCard is designed as a cost-effective, secure credit-card processing solution that provides a new technology for e-commerce in the form of their Real-Time Online Customer Verification System. The system gathers customer data through telephone password identification, with the ultimate goal of deterring fraudulent activity.
Burah promises that using the Real-Time Online Customer Verification System will result in a dramatic reduction in fraud as transactions and authorizations will be completed almost instantaneously, enabling the merchant to provide their services and ship their orders to customers with fewer fears.
“MyVirtualCard has every intention to deliver its unique Real-Time Online Phone Verification solution to the adult industry as well as any online merchant processing credit card payments,” said Burah. “It delivers a secure, real-time, third-party payment processing solution for your Web-based business.
“Our unique solution enables you to process unlimited transactions from anywhere in the world in just a matter of seconds. It's free to sign up for merchants, it’s easy to use, and it’s secure. Plus, there are low rates and you’ll see a definite reduction in chargebacks. It’s a gateway solution with an edge. It can integrate seamlessly into any online merchant’s Website, enabling myVirtualCard to provide any merchant with identification validated customers during the transaction process.”
Burah believes the online e-commerce industry lacks a security solution for chargebacks and fraudulent activity. “If this is what the industry is lacking, then let's deliver our technology.
“Presently as long as a charge is authorized, the payment is processed. There is no security and you are regularly dealing with chargebacks and losing money. Chargebacks are a major issue in every online merchants business model and right now a transaction processor’s rates have factored into this frustrating and costly problem.
"There is clearly a need in the marketplace for this solution and we want to aid every online merchant in the reduction of this problem" said Burah. “In addition, there is extensive interest from many other processing companies we've met to implement our technology into their backend infrastructure. What we hope will come from this is a new credit card verification standard in the industry, something that we recognize will benefit this online industry sector. In addition, there is extensive interest from many other processing companies we've met to implement our technology into their backend infrastructure. What we hope will come from this is a new credit card verification standard in the industry, something that we recognize will benefit this online industry sector."
The system will launch this month and the company is looking forward to supporting transaction processing for the online merchant community as soon as possible.
For more information, visit myVirtualCard on the Web or call 514-668-2664