San Antonio-based MySingleLink has added Touch ID to its MSL Wallet App for iPhone, iPad, Android Phones and Tablets. When used for payment processing, a Single Use Token can be specific to a merchant, to an invoice, and even to an amount.
The iOS version will also include ‘Touch ID’ verification, which allows users to access payments and website logins in an easier, faster and more secure way.
MSL Wallet App enables Single Use Tokens. Website logins include free Customer Database maintenance. Consumers do not have to maintain their personal information with every merchant, which is the main cause of Personal Identity Theft.
To use the app, the consumer scans a code displayed by the merchant to generate a unique code that the merchant will use to complete the transaction. Consumers’ Personal Identification Number will be masked within the unique code. Consumers never have to remember more than a single PIN, which can be as short as 3 characters long for any secured processing.
Security, simplicity, availability and faster execution are at the core of MSL Wallet. Sensitive information will not be transmitted and cannot be accessed by merchants. When used for payment processing, a Single Use Token can be specific to a merchant, to an invoice, and even to an amount. When used for logins, a ‘Single Use Token’ is specific to a web site and can replace a user ID and password.
The app also offers simplicity by using the same simple procedure for all associated applications. This provides faster execution because consumers can select bank cards, gift cards, rewards, coupons, merchant credit card, etc, even before accessing the check-out counters.
MSL Wallet can also be used with iPosters. iPosters can be digital or paper posters where a code in QR or numeric format is displayed. Consumers simply scan the code using MSL Wallet. iPosters can replace any kiosks such as purchasing movie tickets or checking-in at a restaurant.
Consumers’ payment information will be saved only in a PCI compliant Payment Gateway or in a Token vault. Payment information cannot be retrieved by any entity including MySingleLink, MSL Wallet, consumer or merchant. It can only be used by the Gateway or the Token vault for payment processing. No information is saved in the cell phone.
Since 2005, more than 900 million personal records have been breached according to Privacy Rights Clearinghouse. By using ‘Single Use Tokens,’ MSL Wallet will provide needed security and help people save money.
MSL Wallet is available to consumers as a free download in the Apple Store or Google Play marketplace. Businesses can register to become an MSL Merchant.
For additional data on Smart Wallets access CardData®. For historical news and commentary on Smart Wallets visit the searchable CardFlash® Library of more than 58,000 articles published since 1995. RAM Research® forecasts on Smart Wallets are available exclusively through CardWeb.com.®