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Solutions - Authentication Concept
Banc Commerce Group's Secure Identity System's(SIS) solution is based on a new concept of location-based authentication. The methodology behind this concept is to analyze credit card transactions based on geographical information. The authentication process includes the cellular technology of location-based services (LBS) to provide geographical data, and a vast set of advanced algorithms to process and analyze this data in order to provide accurate transaction assessments.
The authentication process consists of two independent channels of verification, the credit authorization channel and the cellular channel, thus creating a highly reliable cycle of confirmation.
The credit card transaction authentication process is shown in the following diagram:
- The process initiates when a client wishes to perform a financial transaction with his or her credit card at a certain merchant’s place of business.
- The merchant’s point of sale (POS) device contacts the credit card company’s transaction authentication center in order to receive clearance to complete the transaction.
- The credit card company then sends the transaction information to Banc Commerce Group’s SIS server.
- Banc Commerce Group’s SIS server establishes the identity of the cellular carrier, which services the mobile phone associated with the relevant credit card, and sends a location request to it.
- The cellular carrier processes the LBS request and determines the location of the relevant mobile phone.
- The cellular carrier then sends the location information to Banc Commerce Group’s SIS server.
- Banc Commerce Group’s SIS server analyzes the transaction based on the location information and previously learnt information and sends a result to the credit card company’s authentication center.
- The authentication center produces a final decision regarding the approval of the transaction and sends the result to the merchant’s POS device.
- The merchant completes or rejects the transaction based on this result.
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