Innovative two‐step credit card authentication reduces risk of theft, fraud and PCI issues
NOTE: As of August 1, 2021, StagedPayTM is now known as Clever DivisionTM, a new, upgrade version of the innovative, patented software.
10.11.2017 – While billions of people are struggling to restore their credit after a pandemic of data breaches, the Texas‐based software vendor Red Maple is releasing innovative software that promises to keep credit card information safe. Red Maple is introducing StagedPay™ at the AXUG Summit in Nashville on October 11.
StagedPay™ is a new, patent pending, hosted credit card for F&O that uses a two‐step authentication process to protect the business and the consumer. It works like a combination lock by allowing merchants to accept and process credit cards using only part of the card number. To open the lock and complete the purchase, the customers must enter the rest of the card numbers on a secure, StagedPay™ site. The merchant is notified when the order is authorized and complete.
This two‐stage process means the merchant doesn’t collect full credit card numbers and become susceptible to fraud in a data breach. It also helps prevent criminals from using stolen credit card numbers, because buyers must provide an email or phone number associated with the credit card to verify and complete the transaction. The credit card information can also be tokenized and inserted into a company’s ERP system to be re‐used securely on future transactions.
“This new software eliminates the risk of hackers crippling companies by stealing private information because the credit card numbers simply won’t be there. Likewise, it will also prevent employee fraud and theft,” said Patrick Hodo, CTO of Red Maple.
StagedPay™ software works with small, medium and large merchant payment systems already in place. It also ensures the business maintains PCI compliance. For medium and large businesses, StagedPay™ can eliminate SAQ audits and thecost of PCI compliance because it requires more information from the consumer than Card Verification Data and Address Verification for authentication.
It’s estimated that nearly every adult American has been impacted by the world’s largest data breach, and some will suffer for years. StagedPay™ is designed to prevent future attacks and theft by locking up data separately, and requiring multiple keys to authenticate, verify, and open the purchasing vault.
Five Fortune 500 companies are currently working with Red Maple in early testing of the product prior to general release in early 2018. To learn more about StagedPay™ visit http://www.stagedpay.com , stop by Booth #365 at the AXUG Summit or contact PR Manager Diane White, 918‐770‐3905 or Diane@DianeWhitePr.com
About Red Maple
Red Maple™ specializes in developing turnkey solutions that natively expand the capabilities of Microsoft Dynamics™ AX and Dynamics 365 for Operations. Globally deployed by 500+ companies, Red Maple’s solutions support complex business processes for credit cards, commissions, recurring billing, revenue recognition, and warranty management. The company’s Advanced Credit Cards for F&O and BC enables businesses to securely accept and process credit card payments using native integration without hidden costs. Using pre-integration with multiple processors and gateways, Red Maple provides an omni-channel experience with processing from native client, Retail (mPOS/ePOS) and integration with numerous e-commerce engines.