PayControl is a software platform that performs digital signature in a smartphone to confirm any types of operations, including transaction confirmation or e-documents signing right in your mobile device.
- User-friendly — no more passwords retyping from SMS
- Secure — trusted service based on cryptography
- Cost-effective — reasonable economy on SMS and OTP
Technology is already used successfully by more than 60 banks.
PayControl consists of two parts: backend part, which takes place in IT infrastructure of the Bank and clients part that is an app for a smartphone iOS (8.0 and above) and Android (4.0 and above). On the decision of the Bank clients’ part can be in a form of embedded libraries for integration into his mobile app.
We use asymmetric cryptographic algorithms in PayControl to create a ‘digital signature’, which means that a bank does not have their clients’ digital signature keys and technically does not create a signature from a client’s name.
Features of PayControl that support the security of transactions:
- “digital signature” in PayControl has formed on the basic four components: to linked to payment details, the time it was created, user’s key and fingerprint. Hence, intercept fraud of confirmation codes is useless for intruders;
- Isolated backend app storage of PayControl protects from unauthorized access from malware or usage of a smartphone by intruders in case of loss of mobile device;
- possibility to integrate PayControl with systems of fraud monitoring significantly increase accuracy to detect any attempts of fraudulent transactions.
Security of key user’s information:
- A key is generated in a user’s smartphone and stored safely in an encrypted form;
- Two independent communications channel are used to activate PayControl app in a user’s smartphone.
Non-repudiation for transactions performed:
- PayControl use asymmetric cryptographic algorithms, thus bank doesn’t have access to a client’s key to generate a digital signature