| Website | kanatait.com |
| Blog | kanatait.com/blog |
| Category | Consumer Web |
| Phone | 613-859-4490 |
| Employees | 4 |
| Founded | 10/07 |
| Description | eCommerce payment method |
KanataIT has created a financial and authentication product, called the PayTC or Pay Token Card, that replaces the plastic credit card for online transactions to reduce fraud and eliminate identity theft. Consumers are provided with a PayTC by a financial institution or credit card issuer, and use it to conduct 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 analogue of the credit card. KanataIT is researching the use of its PayTC capability for contactless smart cards and mobile devices.
The PayTC is initially targeted to consumers that have never done an online transaction, and to pure online banks that would like to expand their financial portfolio with the safest credit product in the market.
Integrating the PayTC system into the existing online transaction chain is done via PayTC plugins to web merchants and the delivery of back-end services to online banks.
| Website | kanatait.com |
| Blog | kanatait.com/blog |
| Stage | Alpha |
The LoginTC is an add-on feature of the PayTC™, allowing financial institutions, banks, and internet sites to provide a secure two-factor online authentication service.
The LoginTC capability offers a true multi-factor authentication process as recommended by the FDIC (Federal Deposit Insurance Corporation) and the FFIEC (Federal Financial Institutions Examination Council).
KanataIT plans for LoginTC release include compliance with SAML (Security Assertion Markup Language) standards. Using the LoginTC as an authentication method assures Service Providers (i.e. protected portals and websites) that a user has a two-factor authentication credential.
The PayTC™ and LoginTC™ are easy to deploy, have a low cost of maintenance, and provide bullet-proof credit and personal data protection capability.
The PayTC is a USB device that replaces plastic account cards for online transactions.
The PayTC main characteristics include:
The PayTC provides optimal versatility for online transactions – USB tokens are portable and widely used by consumers. It also offers exceptional capabilities to enhance the online user experience with a single secure token. Financial institutions can issue the PayTC™ for secure online transactions and/or the BankTC™ for online banking with a single token issuance.
