Consumers can shop worry free using the new payment platform
LOS ANGELES, May 24, 2011 /PRNewswire/ -- Tycoon Unlimited today announced the development of a new system for mobile payments that can eliminate up to 99% of consumer credit card fraud and identity theft. Called NO MORE CARDS, the system allows consumers to use their mobile device or smartphone to pay for goods or services instead of carrying and using their physical credit and debit cards. Additionally, NO MORE CARDS allows for the immediate transfer of funds worldwide from one NO MORE CARDS user to another. Working for both physical store locations and online businesses, NO MORE CARDS maintains the consumers' financial information in a secure environment for them to conduct their transactions.
Arthur Torossian, CEO of Tycoon Unlimited, explains the key problem and how NO MORE CARDS approaches the issue. "Today, people are worried about Identity Theft and Credit Card fraud and they do everything they can to protect their personal information, but they freely hand over the most damaging piece of personal information they possibly could to anyone that asks, ... their credit and debit cards or their account numbers. NO MORE CARDS keeps that information private. All of the consumer's information is maintained securely in an outside system with only the final authorization given to the retailer. At no time is any of the consumer's actual information given to the retailer. Doing this, in the way we do, can eliminate up to 99% of current Credit Card fraud and Identity Theft situations."
NO MORE CARDS is capable of being used with any credit, debit, store, or gift card and requires no additional hardware for either the consumer or vendor in order to take advantage of the NO MORE CARDS platform. As consumers and vendors adopt future wireless technologies, the payment platform is designed to be compatible with this new hardware as well. Once registered on the NO MORE CARDS website, consumers and retailers are able to begin using system to process and accept payments immediately. NO MORE CARDS is designed to work in conjunction with existing consumer and commercial banks to offer their clients the best, most reliable, and most secure payment environment possible for consumers and retailers and is aimed for a Q3 2011 initial launch.
About Tycoon Unlimited
Tycoon Unlimited, Inc. was founded in 2003 to provide production and development solutions to the fashion industry. With a management team possessing over 30 years combined experience in the retail, financing, and wholesale marketplaces, Tycoon Unlimited was rapidly recognized as an innovative problem solver who companies could depend on to support their needs. As Tycoon Unlimited grew, they began to extend their services to a range of other industries and outlets from medical technology to food production. In 2007, they began the initial development of the OWWTS Project, aimed at revolutionizing the way B2B marketing and sales are conducted. In 2010, development began on NO MORE CARDS, an application based mobile payment system for smartphones that eliminates the key scenarios for credit card fraud and identity theft.
To Contact Tycoon Unlimited
Direct inquiries to:
David Maxwell
Media and Investor Relations
Tycoon Unlimited
Phone: 323.589.5999
E-Mail: media@tycoonunlimited.com
Website: http://www.tycoonunlimited.com
Direct inquiries to:
David Maxwell
Media and Investor Relations
Tycoon Unlimited
Phone: 323.589.5999
E-Mail: media@tycoonunlimited.com
Website: http://www.tycoonunlimited.com
SOURCE Tycoon Unlimited
