Software company launches StagedPay™ at National Retail Federation Show January 13 - 16
Boerne, Texas – Cybercrime is so rampant experts say hackers target a business every 14 seconds. The average cost to a company is $2.4 million. Worldwide, the damage is expected to hit $6 trillion this year. The Global Risk Report calls cyber-attacks the top concern for businesses. Texas-based company Red Maple has created a revolutionary solution to protect companies and customers across the globe. StagedPay Card Not Present and StagedPay eCommerce protect customer information by storing and locking-up credit card information in different locations.
Currently in beta testing, Red Maple will officially launch StagedPay during the National Retail Federation’s national show January 13 – 16 at Booth #1028.
“We are offering a new way for companies to securely process credit card data. With this hosted solution, merchants no longer have the customer’s entire credit card number, and the safest transaction is the one where the business never has the credit card in the first place. It also prevents employees and third-parties from committing fraud and theft,” said Patrick Hodo, CTO of Red Maple.
StagedPay is a hosted credit card solution which uses a two-step authentication process for secure payment transactions. It works like a combination lock by allowing merchants to accept and process credit cards using only part of the card number. It requires multiple keys to authenticate, verify, and open the purchasing vault. To open the lock and complete the purchase, the customer must enter the rest of the card numbers on a secureStagedPay site via text, email or phone. The merchant is notified when the order is authorized and complete.
This two-step process means the merchant does not collect the full credit card number, making it less vulnerable to a data breach. As a result, the merchant never has the entire credit card number. The customer must provide traceable information associated with the credit card, such as an email or phone number, to verify and complete the transaction. StagedPay also allows the credit card information to be tokenized and inserted into a company’s ERP system to be re-used securely on future transactions.
“We designed StagedPay to be easy to use. It has been in beta testing and it is ready to go. We can integrate it into merchants’ current systems, so they can start using it right away. StagedPay is good for merchants and good for customers,” added Hodo.
StagedPay Card Not Present and StagedPay eCommerce work with small, medium and large merchant payment systems already in place. The program also ensures businesses maintains PCI compliance. For medium and large businesses, StagedPay can eliminate SAQ audits and the cost of PCI compliance as it requires more information from the consumer than Card Verification Data and Address Verification for authentication.
Red Maple will showcase StagedPay during the National Retail Federation’s Big Show January 13 – 16. You can find them at Booth #1028. Learn more by visiting www.Stagedpay.com.
StagedPay delivers revolutionary security from the Texas-based software vendor Red Maple.Since 1997, Red Maple has been developing turnkey solutions which natively expand the capabilities of Microsoft Dynamics™ AX and Dynamics 365 for Operations. In 2002, Red Maple released its credit card product for Axapta 2.5. Later, Red Maple released credit card products for Axapta 3.0, Axapta 4.0, Microsoft Dynamics™ AX 2009, Microsoft Dynamics™ 2012 and Microsoft Dynamics 365 for Finance and Operations.