Florida-based Mobile Lads develops and delivers secure wireless transaction software solutions for the consumer finance and payment processing sectors. The company seeks to enhance the security of mobile transactions by enabling seamless access to time-sensitive information and data on multiple network standards.
With the prevalence of digital transactions today, consumers are at heightened risk for identity theft and other criminal activities stemming from private data breaches. According to the Department of Justice, around 16.6 million people dealt with at least one instance of identity theft in 2012, which resulted in financial losses of around $24.7 billion. Approximately 7.7 million people reported they had struggled with credit card fraud while approximately 7.5 million people said they had a bank account, such as a debit, checking, or savings account, used for fraudulent purposes. There is clearly an explosive need for effective fraud prevention technology here, and with the growing numbers of transactions in the mobile space, the demand for technology solutions that keep mobile transactions secure is also tremendous.
To meet these growing security demands in mobile commerce, Mobile Lads draws upon a suite of patented mobile authentication and processing solutions. Mobile Lads’ flagship product, xmVerify is a real-time service that combats credit card fraud and puts users in control of the authorization process as they make purchases. In the midst of the purchase, xmVerify sends a secure notification of the pending transaction and a transaction authorization request to a user’s mobile phone. The user then reviews and verifies the authenticity of the transaction and completes his or her purchase. The xmVerify technology is engineered with the one of the highest cryptographic standards and is compatible with almost all mobile platforms available.
Mobile Lads’ second technology offering, xmBilling allows users to securely and conveniently authorize automatic billing transactions, thereby addressing the challenges of volume-based and automated billing. The xmBilling system delivers to a user’s mobile phone a text message with a URL leading to an online e-bill. At this secure online location, the user can then review the details of the bill and authorize the payment through his or her credit card with use of his or her Personal Identification Number. With its complete, secure process for billing transaction authorization, xmBilling offers users an end-to-end solution for keeping payments on time.
Mobile Lads’ third technology solution, xmOne is a patented platform that provides a variety of highly-secure mobile phone services, including:
• Secure mobile top-up to a prepaid account
• Transaction authorization/processing
• Check balance
• Account notification
• Emergency alerts
The xmOne system is a standalone hosted at a secure Canadian hosting facility and engineered for modular needs; each of the services is offered as a module and is installed when requested, which enables future upgrades. This system is especially well-suited for students, colleges, and universities. Students become able to perform transactions such as deposits or balance checks on their mobile phones, and the mobile platform can be interfaced with the education institution’s existing campus card account system. All transactions and information, whether they are in the context of an educational institutional setting or beyond, are strongly protected by top-tier secure encryption technology.
With these powerful technology offerings at hand and its efforts to expand its portfolio of patented mobile transaction security solutions, Mobile Lads seeks to become a leading provider of transaction security products and services for the mobile space.
For more information, visit: www.mobilelads.com
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