VeriSmart Visa cardholders can now withdraw cash using PIN authentication

 VerifySmart(TM) Corp.: ("VerifySmart" or the "Company"), a global leader in secure and fraud free credit and debit payment processing services, is pleased to announce the successful implementation of its patent-pending PIN authentication system, VerifyNGo(TM), for immediate worldwide use with its VeriSmart(TM) Cards. VerifySmart customers in Europe, Asia and North America can now instantly and securely disburse funds through VeriSmart Visa cards using their own personal PIN to authenticate transfers.

"This fundamental integration between our transfer system, VerifyTransfer(TM), and our authentication protocol, VerifyNGo(TM), was a natural and necessary evolution to provide our customers with the security they've come to rely on from VerifySmart. It is truly the first of its kind in the world especially coupled with VeriSmart(TM) Cards. Consistent with our goal, we are hard at work to continually advance our technology to ensure transactions we facilitate remain fraud-free thus protecting merchants, financial institutions, and consumers alike." Ralph Santos, VerifySmart CEO and President, has also been in multiple discussions of late with strategic companies interested in VerifySmart's offerings. "We are excited to be in this space marking our leadership position as we progress our dialogue with potential partners and customers equally excited with the prospect of dramatically increasing their value proposition by eradicating fraud from their core business," he adds.

The Process

Using VerifyTransfer(TM), senders can securely and instantly send money worldwide on the VeriSmart(TM) Visa Cards. Recipients receive an authentication message on the cell phone number provided by the sender requiring PIN validation to complete the transaction. Only when the correct PIN is entered does the transaction go through. When the card, the cell phone, of the PIN is compromised, the transaction fails and fraud is averted.