PHOENIX, Jan. 7, 2014 /PRNewswire/ -- With customer data breaches at retailers across the country on the rise, consumers are increasingly turning to an innovative mobile payment solution to protect themselves. mCards, a mobile payment system launched by New Media Insight Group, Inc. ("New Media" or "the Company") (OTCBB: NMED) in November, helps users prevent their personal information from falling into the wrong hands by generating credit card numbers that can only be used once and expire after 20 minutes.
"In the wake of recent breaches at major retailers, it has become more important than ever for consumers to proactively secure their sensitive personal data," said Michael Palethrope, CEO of New Media Insight Group. "Our mCard solution not only protects users from identity theft, but also provides them with an easy-to-use way to shop. Merchants, meantime, can also benefit by providing their customers with a secure mobile payment solution without the burden of storing and securing personal data."
Creating an mCard account is fast and simple. When consumers sign up, they link their mCard to an existing bank account or credit card, which allows them to add money to their account. They will then be able to access a virtual credit card on their smartphone that they can use to make purchases at any merchant that accepts MasterCard. Because the mCard functions similarly to a prepaid credit card, even if someone did steal the number, the thief could only access the available balance.
And, unlike other mobile payment solutions, the mCard doesn't require hardware. To process payments from the mCard, merchants can either key the card number into their existing credit card terminals or use a NFC or QR code scan. As a result, there is no risk of data being stolen from swiping the card.
Data security breaches are widespread and can be costly for both consumers and organizations. According to the Privacy Rights Clearinghouse, since January 2005 over 600 million records containing personal information have been stolen in over 4,000 attacks in which the retail sector has been particularly susceptible.
About New Media Insight Group, Inc.
New Media Insight Group, Inc. (OTCBB: NMED) is an innovative mobile payments company. New Media Insight recently launched mCards, a system that allows merchants to accept mobile payments without any additional hardware other than an existing terminal that takes MasterCard. New Media Insight is employing a grassroots strategy to increase mCards adoption, focusing its efforts on building alliances with non-profits that already have strong relationships with merchants.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to any future sales of mCARDS, the features and security related to the mCARDS, any benefits that mCARDS may provide to medium and small businesses, and the company developing, acquiring and scaling solutions that monetize social and mobile media more effectively than traditional advertising.
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SOURCE New Media Insight Group, Inc.