[MONEY 20/20] Korea’s SSenStone Unveils Single-Use Credit Card Number Technology for Ultimate Security

[MONEY 20/20] Korea’s SSenStone Unveils Single-Use Credit Card Number Technology for Ultimate Security



[THE INVESTOR] SINGAPORE – Korean digital security start-up SSenStone on March 14 launched a whole new way to use credit cards securely online: a one-time credit card number that changes every time a new transaction is carried out.

The technology, called Virtual One Time Code, or VOTC, creates virtual numbers that cannot be duplicated for more than a million uses. More importantly, the company said, the number recognizes the cardholder every time without any network connection.

“We are in talks with several credit card companies for possible partnerships,” SSenStone CEO Yoo Chang-hun told The Investor on the sidelines of Money20 / 20 Asia in Singapore this week.

“A unique credit number is the ultimate solution in the fight against credit card fraud. ”

SSenStone was one of the top five security solutions companies to attend the startup launch event at the three-day Asian edition of the world’s largest fintech trade show which ended on the 15th March.

According to the CEO, smart cards and improved security solutions may have significantly reduced offline credit card fraud, but cardless online transactions have become increasingly vulnerable to crooks.

Of the total losses from credit card fraud worth $ 21 billion worldwide, more than 70% now comes from CNP fraud, mostly on e-commerce transactions.

“The beauty of our technology is that you don’t have to install additional machinery or infrastructure to apply it. We can block all CNP fraud cases, without more complicated token methods, ”Yoo said.

The company hopes to provide the solution to card issuers or card companies and charge them a license fee on each card account, while seeking a strategic alliance with online payment service providers and security companies to create a new business model based on revenue sharing.

“Our goal is not to compete with existing solutions. We want to work with them to create a new payment security ecosystem, ”said the CEO.

SSenStone, established in 2015, develops next-generation authentication solutions and its Fast Identity Online or FIDO-certified platform called StonePASS has been widely adopted by Korean financial and public organizations.

The company’s annual sales are estimated at 50 billion won ($ 46.5 million) this year. Its main investors are SparkLabs and Lotte Accelerator. Last year, Lee Joon-ho, former chief information security officer at Korean internet giant Naver, joined the company as co-CEO.

By Lee Ji-yoon ([email protected])


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Help me, laptop: my PC knows my credit card number!

Addresses, credit card information, social security numbers – we give our technology a lot of information. And it’s always important to have a sense of privacy. So when the reader kathydenise1981 wrote to us, worried that their computer would remember their credit card number, I understood why they were worried.

Every time I put the first number, my entire card number is displayed,“they wrote. Our reader had made a purchase online, and now it’s popping up everywhere.

There are several ways to resolve this issue, depending on your operating system and browser, but the best first step is to blow up your cache.

Fortunately, we have tutorials for this out of the box. Here’s how to clear your cache and history for all major browsers:

Make sure to clear both your history and your cache. If this does not work, the credentials may be stored in the operating system.

In Windows 10, go to Control Panel> User Accounts> Saved Credentials to view a list (or delete) of items that the operating system has stored. For macOS, go to Applications> Utilities> Key ring for a list of stored credentials.

Finally, some online stores will remember your credit card details after a purchase. In these cases, you will need to log into your profile in each store and delete them on a case-by-case basis.

Credit: Shutterstock


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A man gave this woman her credit card number, so she bought an inflatable house

Sometimes the internet is a wonderful place – and today it gave us this: a wife bought a bouncy castle after a guy his credit card, and the screenshots documenting the whole story are invaluable. The context is important: he had apparently offered her a date, to which she said no. However, he persisted, choosing at that point to give her her credit card information and tell her to buy whatever she liked.

You can probably guess where this is going.

The woman in question here is Leagan, a 17-year-old from Lubbock, Texas, who tweets under the handle @leagalicious. On September 20, she tweeted the world saying simply, “You are all invited to my bouncy castle party funded by the guy who sent me his credit card after I said no to a date ”- with screenshots explaining exactly what happened.

It begins with a text message reading, “I want you to have something.This message is followed by two images: The front and back of a credit card. (Leagan erased the actual information on the map before posting it.) “Just in case you need anything. Anything, “the following reads – and just in case there is any doubt as to what that means, another tweet reads:” Anything your heart desires. “

The following text is invaluable. It starts with a screenshot of an email inbox, with the first message from a sender called “Jungle Jumps”. “Welcome to Jungle Jumps,” the subject line reads.

“Baby, what is this?” Asks the poor boy.

“You said rubbish, didn’t you?” answers our intrepid hero.

Then there’s another screenshot – this time of an order confirmation – and the words “Did you just buy a fucking bouncy house”.

HAS SHE EVER.

Specifically, she bought this inflatable house:

As you may have deduced from the screenshots of Leagan’s tweet, the bouncy palace is Jumps in the jungle, which is apparently “the largest American manufacturer of inflatable play structuresAccording to the company’s website. He is based in Pacoima, California, in the San Fernando Valley area of ​​Los Angeles. Incidentally, the Pink bounce house with sign, as it is called, is on sale now; you can get the 10 x 10 x 12 size for $ 938, for $ 1,145, and the 13 x 13 x 15 size for $ 1,143, for $ 1,395. Read the product description:

If you are looking for a bouncy house for sale, look no further. Check out our princess pink inflatable bouncer, designed like a castle with a parapet along the front roofline and four inflatable turrets, one at each corner. The durable, commercial grade vinyl that we make our products from is pictured here in a gorgeous pink color, accented by bright yellow window frames and a rich purple base. A centrally located entry ramp makes getting in and out easy, and the sturdy construction ensures your bouncer will last for many years of use, with every product we provide a step-by-step illustrated manual and repair fixes.

It also comes with an air blower, utility tarp ground cover, heavy duty 18 inch stakes, double D-ring straps, vinyl patch kit with glue, and a manual with instructions. on how to assemble the house. (Never underestimate the value of a good instruction manual.)

Is it possible that this is all a hoax? I mean yes; screenshots and text messages are easy to forge. For what it’s worth, however, here’s Leagan’s response to someone wondering if this was all real or not:

I mean, just.

Overall, however, people don’t question Leagan; they just want to be his friend:

And / or mark party invitations:

Speaking of, in an email to Cosmopolitan, Leagan said she actually does. plan to have a party in a bouncy house (as long as his unfortunate suitor does not cancel the order); “Everyone is welcome and I will give the details once the bounce house arrives!” ” she said. The guy, meanwhile, was “understandably annoyed with my purchase,” Leagan wrote, “but after realizing he actually said ‘whatever’ we were cool.”

Let this be a lesson on the importance of language precision. And also by graciously accepting a “no” when someone refuses your romantic overtures.



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