Two Dimensional Fraud Detection TM Platform

Vality 2DFD software platform gives each PAN two identities, creating a pair of PANs we call PAN+. Creation of PAN+ is based on the application of multiple patented inventions. Vality’s software gives the PAN a fingerprint as an identity that cannot be compromised. The 2 dimensional PAN, or PAN+, cannot be derived as it is not an algorithm or an encryption, so it cannot be reverse engineered. Even as PAN+ is unalterable, the regular PAN (Value part of the PAN+) can be seen and used for loyalty and routing purposes even when it is in the PAN+ form. Vality platform uses PAN+ in pairs – with issuer:PAN+ and cardholder:PAN+. The PAN+ pair enables Vality platform to detect and prevent multiple types of payment fraud.

Many current CNP fraud detection solutions use big data analytics and probability theory to derive the expected value of possible outcomes and are right about 80% of the time leaving about $7 billion hole in CNP fraud alone in the US. Our technology can detect fraud differently and so provides a solution to combat this fraud gap and also complements existing fraud solutions.

Technology

  • PAN+ is based on patented technology
  • The 2DFD Vality Platform uses the PAN+ pair to process its fraud detection checks
  • Issuer: PAN+ resides at issuer authorization database
  • Cardholder:PAN+ resides at the customer’s smartphone
  • The PAN+ identities enable Vality to check for fraudulent activities

Vality Issuer Software

  • Vality Platform has an API interface to the issuer card authorization system
  • Issuer: PAN+ and  Cardholder:PAN+ are checked
  • Origin of each PAN+ is used to detect any hacking of PANs
  • PAN+s can be refreshed together or separately without affecting the PAN
  • Vality Platform eliminates need to reissue cards when fraud is detected, or issuer’s database is hacked

Consumer Smartphone Software

  • Vality Consumer App is embedded in the issuer App or can be downloaded from web site
  • Receives and stores cardholder:PAN+
  • Responds to issuer requests for cardholder:PAN+
  • Cardholder:PAN+ can be refreshed by issuer
  • Cardholder:PAN+ is bound to smartphone ID

Fraudulent Transactions Identification

  • If the origin of either of the PAN+ pair is not as expected
  • Or if either one of PAN+ pair do not match the latest dynamic version
  • Any 2nd dimension tampering
  • If there is an attempt for “account takeover”
  • All issuer database hacks are detected