VISITORS can see the world's first electronic wallet to support the latest authentication standard from VISA and Mastercard (VISA 3-D Secure and Mastercard's SPA) at next week's Software Showcase.
An accomplishment of Creative Digital Technology (CDT), ActiveWallet solves the problem of online credit card fraud for ecommerce.
Current on-line credit fraud is equivalent to 4 per cent of the total value of all ecommerce transactions. ActiveWallet substantially reduces this problem.
A server-based electronic wallet, the product is provided by financial institutions or telcos as a service to customers who can access it through any internet-enabled device such as PC, PDA or mobile phone.
This provides the user secure convenient payment ability from any internet access point, achieved through bank-grade software authentication - using a virtual PIN pad.
ActiveWallet provides a range of value-added services to customers including receipt capture for the tracking of online orders for future reference and is to be offered five million customers throughout Singapore, Hong Kong and Taiwan by one of the region's largest financial institutions.