Woodview Consulting, a loss prevention and security consulting firm; and Intelligent Design Systems, Inc. (IDS), a technology design and product development firm; today announced the introduction of Digital Device Protection DDP, an innovative approach to detecting, tracking and deterring credit card device tampering attempts in retail locations. Credit card fraud and consumer identity theft are rapidly growing problems, particularly in the United States. According published reports, while the U.S. accounts for roughly 23% of credit card volume, it is responsible for 47% of credit card fraud.
“Credit card fraud and identify theft are two of the most pressing problems retailers and consumers face every day in the U.S.,” stated Sean Ryan, President of Woodview Consulting. “With the introduction of Digital Device Protection DDP, we are giving retailers and consumers alike a better chance of knowing when a device may have be compromised.”
Digital Device Protection DDP will give retailers the ability to visual verify and track if their credit card devices or remote payment terminals are secure and safe for use for their customers. Digital Device Protection DDP is comprised of a specially designed and encoded tamper evident label that can be secured to the opening of the devices and displays a watermark if tampered with or leaves visual residue on the device if removed. The specially encoded labels are difficult to counterfeit and information related to the label, device, and location is securely stored for immediate verification by any authorized smart device.
The benefits of the encoded labels are simple to apply, difficult to counterfeit, cost effective, and can be customized for additional brand protection and branding opportunities.
In addition to securing the in-store device, Woodview and IDS also offer a cloud-based database where the serialized GPS encoded labels can be registered and tracked by store number and device location within the store. Through the use of a smartphone or tablet and a special app, retailers can quickly and easily register the labels and use the information for future auditing purposes.
A retailer can choose to set up an audit schedule for each of the labels to ensure that they are still intact and untampered. If the audit does not take place at the scheduled time, an alert can be sent to the corporate security or IT department informing them of the missed audit.
“The key to this approach lies not only in the encoded, customer-specific serialized tamper evident label that can be affixed to any credit card device but also in the proprietary database used to verify the authenticity of the label and where it is located,” commented Joe Ryan, III, President of IDS. “Often times even the best technology solutions fall short due to the human factor, with DDP we are helping retailers deploy new technology while maintaining compliance with the execution.”