Added Security With BYNDL
FACT #1:
Credit cards, debit cards or other payment source account numbers cannot be physically intercepted or stolen while making a transaction with BYNDL, because they’re never transmitted or exposed when a purchase is made. With BYNDL, payment account information is not required at the point of purchase. The payment connection between merchants and their customers actually happens in a secure data center, far away from the point of purchase.
FACT #2:
BYNDL is more secure than mobile payment providers who swipe your credit card. Experts in card data security believe the best way to maintain the security of your credit and debit card numbers is to minimize the number of places numbers are used and stored. We agree. That’s why we store payment card numbers in a secure data center, and never—ever— transmit them back to any smartphone or merchant systems.
FACT #3:
A lost phone does not mean lost identity, lost BYNDL data, or that someone can steal your money. As long as your BYNDL account is secured (set to access with a PIN), it’s safe—because all that info is stored in the cloud. A BYNDL account only needs to be set up once—replace the phone all the BYNDL account settings and data easily load right back to the new one. Even if the phone were hacked, the data on that phone is unusable to someone trying to use your bankcards and accounts once the phone is disabled. No calling credit card companies to report lost/stolen cards. In short, no hassles. (Other than replacing the phone, of course.)
FACT #4:
Information is more secure using BYNDL than when using any Social Network, because BYNDL stores less personal data than Social Networks do. Account settings are entirely private—no one can see that data.
FACT #5:
All personal and transactional information is kept secure at all times. Merchants can only see transactions or activity related to them. Customers can opt in or out of the data collection, but opting out means they get the great payment options but lose reward opportunities. Opting in means customers get great rewards targeted to the things that they like. BYNDL never sells customer data. BYNDL only uses customer data in any way but to enable the merchant and consumer to have a better relationship.
FACT #6:
Every BYNDL account is protected by two sources of identity verification—the mobile phone number and a personal identification number (PIN), which is tied to that phone number. All BYNDL accounts automatically lock with too many failed login attempts, making it impossible to physically hack into any account. Each mobile phone number is verified at the time of registration.
FACT #7:
All communication between merchants, consumers and the BYNDL system are secured with industry standard SSL/TLS encryption. The system complies with PCI Data Security Standard (PCI-DSS), Level 1. BYNDL servers are housed in a PCI compliant data center, monitored around the clock by dedicated security staff.
FACT #8:
When using BYNDL’s stored value feature, it is not possible to “cash out” by transferring the balance to another account or by using an ATM. To cash out, the funds are sent only to the user’s verified bank account. (This is standard with e-money systems.)
FACT #9:
BYNDL software is developed using industry-standard security best practices.