Dyneti Technologies is a San Francisco-based software development company that is developing products to prevent credit card fraud and to process payments faster.
The company's first product is called "DyScan". Users can download the application onto their mobile phone and integrate it into their default payment add flow. Then they hold up their credit card to the camera on the mobile device to prove that they psychically have the card. The application is capable of scanning expiration dates in addition to the credit card numbers and the application follows payment card industry compliance by enabling the cards to be scanned on device. This step is necessary so that DyScan can validate that the card is non-fraudulent because fraudsters usually make purchases using stolen credit card numbers and would normally not have possession of the actual card.
For businesses using DyScan, the company claims to reduce fraud by 50% and to increase payment conversions by 5% because of the sped-up checkout time due to not having to manually enter the credit card numbers.
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What is DyScan?
November 30, 2018