KanataIT

KanataIT has created a product that replaces the plastic credit card for online transactions to reduce fraud and eliminate identity theft.

We call the product the PayTC or Pay Token Card. In essence, a consumer is provided with a PayTC by a financial institution or credit card issuer, and uses it to conduct secure and fraud-free online transactions with PayTC enabled merchants.

KanataIT has filed a provisional patent that outlines the end-to-end solution, which challenges the disclosure of credit data to intermediaries, the weakest link in the security of an online transaction.

In its initial release, the PayTC is a USB device presented as the online analoque of the credit card itself, but KanataIT is researching the use of its PayTC capability for contactless smart cards and mobile devices.

Integrating the PayTC system into the existing online transaction chain is done via PayTC plugins to intermediaries and the delivery of back-end services to the financial institutions.