Payment Solution

PGuardian Technologies Inc.
The Privacy and Security Solution

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Payment Solution

The U.S. online population has grown exponentially in the past few years and reached 120 million at the beginning of 2002. Despite this remarkable growth of the online population, some problems have emerged that impede the adoption of e-commerce and prevent the full potential of e-commerce from unfolding:

Missed sales due to privacy concerns cost merchants on average 14% of their revenues. A recent Federal Trade Commission (FTC) study reports that 67% of consumers are “very concerned” about the privacy of their personal information. Two third of online buyers have recently abandoned their purchase plans because of privacy concerns. In 1999, online privacy concerns resulted in lost B2C sales revenues of approximately $2.8 billion. This figure is expected to rise to approximately $18 billion by the end of 2002, equivalent to 18% of total e-commerce revenues.
Fraud costs merchants on average 3% of their revenues
85% of merchants store their customers' information on their server; only 45% of stored credit card numbers are encrypted. Only 32% have a designated risk management team and 30% have designated a privacy officer.
According to de-La-rue-Card-System, 66% of consumers trust card payment systems to make brick-and-mortar purchases and only 7% to make online purchases.
According to PricewaterhouseCoopers, 79% of sampled individuals voiced reluctance to make an online purchase due to concerns over credit card security, 77% due to concerns over privacy and 48% due to distrust of web retailers.

In recent years a growing number of B2B players have expressed similar concerns for privacy and an interest in keeping certain corporate transactions confidential. Users of recently established P2P marketplaces have similar concerns about privacy and security of transaction data.

Merchants understand the need to find solutions to solve the above issues. They consider an acceptable investment in fraud management system to be on average 4% of online revenue.

PGuardian Payment Solution - The software solution safeguards consumers’ privacy during online financial transactions and will help vendors increase their revenues by reducing potential consumers’ security and privacy concerns. PGuardian’s Payment software solution anonymizes on-line payment transactions, provides total security of information provided during a transaction, and lowers merchants' exposure to online fraud costs. This solution protects buyers’ privacy at all levels, regardless of payment method and the nature of the transaction. The solution will also lower the cost of maintaining and processing sensitive information on the merchants server. PGuardian’s web-based software can be used in B2C, B2B, P2P, and P2G markets. PGuardian’s solution has several competitive advantages:

PGuardian Payment Solution does not affect the user's online experience, with the benefit that each customer’s personal information will remain anonymous through a seamless payment process. And yet, the vendor is still able to keep personalized customer accounts, track online customer behavior and serve targeted advertisements.

PGuardian's payment solution has the following competitive advantages:

Complete Anonymity – PGuardian's solution enables secure and completely anonymous online transactions. This solution conceals customer’s identity from the vendor, from financial institutions, and from Private James itself.
Independence of Payment Method – The technology supports any method of payment (e.g. debit accounts, credit cards, money orders, etc.) in wired and wireless infrastructures, protecting the anonymity of customers and securing the transmission of their personal and financial information.
Reduction of Identity Theft – PGuardian's technology significantly reduces the risk of identity theft.
Simplicity – PGuardian's solution is seamless, transparent and easy to use. Use of the service does not involve any software downloads or installations on part of the customer.
Legal Compliance – PGuardian's technology complies with all laws and regulations – including those that address privacy and identity theft, as well as money laundering.

A list of Q&A can be found by clicking here.