About Us
QRedit was conceived in 2013 by a team of cryptography, cyber security and counterfeit protection specialists. !
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Our mission is to provide an innovative solution for
protecting the consumer’s identity and credit card details
The Pitch
QReditCard is designed to allow consumers to complete
transactions securely online and through Facebook, even on an infected computer (virus,
malware, keylogger), all while expediting the online check-out process.
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B2B Target Segments
Banks Payment Gateways Credit Card Issuers E-Commerce M-CommerceThe Problem
Current Online Check-Out
• Time consuming process.!
• Voluntarily provide data. !
• Bank and e-Commerce
site subject to breach. !
• Personal device may be infected with malware or virus.
Online Credit Card Theft
Data breaches. According to the Privacy Rights Clearinghouse, over 600 million records have been stolen since 2005. If a company or website that has your credit card information has a data breach, then it is likely that your credit card number can fall into the wrong hands.!
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Keystroke logging. Another common way that a thief can get your credit card number is by installing a so-called
keylogger on your computer without your knowledge and record every
keystroke you make, including credit card numbers and security codes.
!
The Solution
QRedit
• 360 degree Secure Payment Solutions.!
• B2C – Provide consumers with a
platform to secure their existing bank and/or credit card details, to protect their identity when shopping online. For FREE.!
• B2B – Provide Banks and Issuers with
a white labeled security solution to offer their clients. Provide customary fee based QRedit’s Secure Processing Service to merchants. Profit share
with Payment Processors who license QRedit’s Secure Processing Service.
Consumers entire credit card details, billing address, cell phone
number and email address are
Expedite Online Check-Out
Experience
• Eliminates the need to manually enter any
information on an e-Commerce site.!
3-Step Process
Align barcode side of the credit card to your webcam!
Select “ Pay-by-Barcode”! option on ! e-Commerce site!
Confirm SMS authentication token received from bank!
Step 1
!
Step 2!
Step 3!
Once the transaction is confirmed by the credit card holder, the QRedit’s processing server will send an authorization code and shipping details to the
Secure Payment Application
with QRedit (Pay by Barcode)
Pay by Barcode
!
• By-pass manual entry with “Pay by Barcode
option.”!
• Clicking on “Pay by
Barcode” will initiate the
camera on any device.!
• Scan barcode on backside
of Credit Card to complete the transaction
Secure Payment Application with
QRedit (Confirm Security Code)
• After scanning the
encrypted barcode, you will receive a one time use (OTP) code via SMS or
Email to verify purchase.
Secure Payment Application with
QRedit (Confirm Transaction)
• Enter Confirmation Code, click “Submit” and receive
status: “Valid Code”!
• Confirm e-Commerce site and amount. Click “Pay”
button.!
• Secure transaction is complete!
Benefits to All
!
• QRedit benefits consumers who refuse to shop online to due
credit card fraud. It enables them to secure themselves when shopping online. !
• QRedit benefits the merchant by expediting the online check
out experience by up to 98%. Reduces chargebacks, and provides an additional layer of security to PCI-DSS.!
• QRedit benefits banks and issuers by helping to reduce the
possibility of a data breach, reduce fraud, and increase card usage.!
• QRedit benefits insurance companies through a reduction in
payouts.!
• QRedit benefits governments by providing traceability for
every transaction while monitoring, in real time, potential money laundering activities. !
Benefits to Partner
•
Attract customers from competing banks.
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•
Expand international reach.
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Provide innovate solutions in the secure payment space.
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Add to product/solution offerings.
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Future Products
QRedit Card is at the forefront of Cryptocodex’s Secure Payment Solutions. This flagship system is the product of more than 10
years of R&D, culminating in the development of the most
advanced encryption technology in the world. !
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Future products may include, but are not limited to the following:!
!
- Brick and mortar payment solution. Any merchant that uses a
smart phone or tablet and a dongle to accept payment is QRedit Card ready.!
- EMV Integration!
- NFC Integration!
- Mobile Wallet!
Encryption
Encryption technology is the only symmetrical,
polymorphic, non-mathematical encryption method in the world. Its key strength (minimum 1 million bit key size) is truly chaotic and based on a innovative, patent pending technology called PHR Pure Human Randomization. PHR replaces the structuring and use of a pseudo-random
calculative hash function. PHR is protected against Rainbow Crack, Dictionary Attack, Cryptanalysis and
Brute Force.!
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Key Strength – 1 million bit or more!
Performance 400% faster compared to AES.!
MPU use – Mathematical Process Unit in CPU use 3% – 7% only.!
Overhead of the file from original 5% +/- (original+5%) +/-! !
! !
Micro Database Less
Encapsulation (MDLE)
Other encryption algorithms have a bit overhead of between 300-700% when
encrypting small amounts of information. PHR on the other hand uses an
unparalleled, non dictionary compression ratio operational technique which has a bit overhead of 5-7%. Because of this, we are capable of encrypting relevant information into one 2D barcode. A process referred to as MDLE – Micro Database Less
Encapsulation.!
