Monkeetech LLC announced today that it has filed for a full utility non-provisional patent for its Security Swipe System. The Security Swipe System is a point-of-sale credit and debit card fraud prevention system, which captures clear photographic evidence of the payment transaction, each time a credit or debit card is swiped at checkout.
February 18, 2014
MONKEETECH LLC, a program development company located in West Babylon, NY has announced today, that it has filed for a full utility patent for its Security Swipe System. The Security Swipe System is designed to curtail credit and debit card fraud at point-of-sale checkout stations. The System incorporates SMS text technology and advanced digital camera functionality to alert cardholders of attempted use of their debit or credit card and signals an advanced digital camera to capture and time stamp clear photographic evidence of the attempted credit or debit card payment transaction at the retailerâ€™s checkout station.
â€œThe Security Swipe System is specifically designed to act as a deterrent to any would be perpetrator of credit or debit card fraud at point-of-sale by memorializing the entire fraudulent payment transaction, including clear photographic evidence of the would be perpetrator for use in future prosecution and future identification by in-house securityâ€, stated Jeffrey N. Dinardo Jr. CEO of Monkeetech.
Credit and debit card fraud continues to rise at alarming rates and the Security Swipe System represents only one of the many programs developed by Monkeetech to stem the rise of fraud and identity theft â€“ Kenneth Carnesi
The Security Swipe System also alerts all cardholders who have previously opted-in to the System, via SMS text message, that their credit or debit card has been presented for payment at the respective participating retail establishment and requests the true cardholder to reject or confirm the payment transaction as legitimate.
â€œCredit and debit card fraud continues to rise at alarming rates and the Security Swipe System represents only one of the many programs developed by Monkeetech to stem the rise of fraud and identity theftâ€ comments Kenneth Carnesi, a Director of Monkeetech.
To learn more about the unique and innovative systems being developed by Monkeetech LLC; including our patent pending iris biometric systems, please contact us to schedule a meeting at Finovate Spring in San Jose, Calif. on April 29-30, 2014.