The card processor is called an eCAT (e-Commerce Authentication Terminal). The eCAT is low cost, small, light and portable and consists of a Smart Card Reader/Writer with PIN pad using a standard USB connector compatible with internet access devices such as Laptops, PCs and Netbooks etc. The eCAT bypasses the need to use a computer keyboard/touch screen for entry of card details thereby securing all transactions from the risk of being compromised by computer viruses and Trojans. The tamper-proof eCAT uses 3DES to encrypt the relevant card details and this encrypted data is then transmitted from the eCAT to the backend key management software residing in a secure environment provided by Financial Institution or a 3rd Party Transaction Processor.
Consumer initiated transactions such as e-Banking, internet purchases and secure logging onto websites typically require that the User Name and Password be entered or details from an ATM card, Credit Card or Debit Card be used to authenticate the user and/or to permit the completion of a financial transaction. Although multi-factor authentication is used, the risk is that this sensitive personal data or card data, which is entered via a computer keyboard/ touch screen, is already exposed to viruses or Trojans residing in the internet access device thereby negating any other factor of authentication used.
The eCAT, by its very function, bypasses the keyboard/touch screen and completely removes the risk of data being compromised.