M2 Obtains Patent for One-Time Security Code Technology
May 26, 2011
Muscato Group, Inc., a Maitland, Fla.-based processor that operates as M2, has secured a U.S. patent for a single-transaction security code technology for credit and debit cards. The company said Secure Access for E-Commerce (SAFE) enables a cardholder to generate a unique, one-time use card security code for card-not-present transactions. “SAFE has been extraordinarily successful in reducing online transaction fraud for cardholders worldwide since being introduced in 2009,” said Mike Muscato, CEO. “We are very confident SAFE technology can and will cut online credit and debit card fraud worldwide.” M2 said it plans to license SAFE technology to issuing banks, payment card networks, card program managers, and other card processors.