Has shipped 300,000 encrypted readers that prevent card fraud demonstrated at the Blackhat security conference last week
BOSTON, MA — August 9, 2011 — ROAM Data, the leading mCommerce platform provider that extends both physical POS and eCommerce to the mobile environment, today announced that it has become the #1 provider of secure mobile phone card readers in the world.
ROAM Data has sold approximately 300,000 secure readers to leading merchant service providers (MSPs), making ROAM the largest supplier of encrypted mobile card readers by an order of magnitude. It expects to have shipped over 1 million units by this time next year. The reason for ROAM’s success is in part due to its patent pending hardware and software design that make it easy for MSPs to deliver secure mobile POS solutions to merchants quickly and cost effectively. ROAM’s mobile readers prevent card fraud that normally plague other unencrypted reader solutions, the readers also provide a more robust read rate and are compatible with the largest number of mobile devices in the industry.
“ROAM’s entire system was designed with PCI security from the start,” said Will Graylin, CEO of ROAM Data. The two hacks demonstrated on Square’s solution at the Blackhat conference last week would not work on ROAM’s solutions, because ROAM’s readers fully encrypt the track data before it reaches the phone and the data can only be decrypted by a secure payment server, never exposed on the phone. By design neither ROAM’s app nor server would recognize third party audio signals from recorded files. ROAM had the security foresight to design our solutions to protect our customers and partners against these types of card fraud.”
According to Mr. Graylin, “some may deflect this problem as a general mag-stripe issue, and some have argued for chip cards or other more secure means to be implemented. The reality is that, for a variety of reasons, mag stripes in our wallets will be around for a long time to come, (we have not even gotten rid of cash yet after decades of trying). Therefore, those providing payment services with mag stripe have a serious responsibility to make their services as secure as they possibly can. ROAM has taken the steps to do so, and will continue to innovate and lead on providing secure solutions, be they mag stripe, EMV or NFC. For a deeper comparison of ROAM vs. Square readers, see our blog atblog.roamdata.com with photos of the internals of each reader along with a head to head comparison.”
ROAM’s team has years of experience delivering mobile phone POS solutions to market, and ROAM owns or has licensed a number of granted and pending patents in this space, including exclusive rights to certain IP that are critical for development of these readers.
ROAM Data further provides a full turnkey software solution that can be branded for its MSP partners, from app to provisioning to support portal. ROAM also provides a set of APIs and tools that allow developers to build their own apps using ROAM’s secure reader and mCommerce infrastructure that is tied to the vast majority of payment providers in the country.
ROAM Data is the leading mCommerce platform provider that extends both physical Point of Sales (POS) and eCommerce to the mobile environment. It provides patented mCommerce software-as-a-service, payment peripherals, and a platform of development tools that enable scalable mobile commerce applications to help merchants win customer spend and loyalty.
ROAM partners with payment providers, integrators and app developers — who are incorporating mobile commerce into their offerings — to distribute its solutions. These customers and partners include First Data, Chase Paymentech, Intuit, Global Payments, Sage, Ingenico and hundreds more. ROAM won the 2010 Technology Innovation Award sponsored by the Electronic Transaction Association and is the leader in providing scalable mCommerce platform that extends both POS and eCommerce to the mobile environment. Visit us at http://websitestaging.com/roam