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Bulgarian tech company comes up with new device against bank card fraud

Wed, Sep 29 2010 10:01 CET

byDnevnik.bg

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Bulgarian tech company comes up with new device against bank card fraud

Photo: Julia Lazarova

Bulgarian tech company Megatex has come up with a new technology that it says guarantees complete security of bank card operations.

The Revolution Security Card (Revsec) technology, which will be showcased at the international fair Essen 2010 in Germany early in October 2010, effectively prevents bank card frauds, according to the developer.

It marries three separate, existing protection measures, which have not been combined before.

"We’ve been developing Revsec for about a year," company chief executive Nikolai Zarkov said.

Revsec targets financial institutions as well as organisations seeking to beef up information security.

Megatex has estimated that installing the technology by a Bulgarian bank could cost a one-off investment of no more than 20 euro cents a customer, whereas fraud could be curbed by more than 95 per cent.

Source: Dnevnik.bg

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