Consumer Finance
Company Overview of SHAZAM, Inc.
Company Overview
6700 Pioneer Parkway
Johnston, IA 50131
United States
Founded in 1976
Key Executives for SHAZAM, Inc.
SHAZAM, Inc. Key Developments
TCM Bank, N. A has entered into a referral agreement with SHAZAM, Inc. Through this alliance, SHAZAM will refer its participating financial institutions to TCM's credit card services.
SHAZAM, Inc. announced that it has launched the Adaptive Payments Pentagon mobile point-of-sale (POS) payments application. Pentagon is a mobile payments platform, which allows merchants to accept PIN debit, signature debit and credit transactions using iPhone(R) and Android(R) mobile phone and tablet devices. SHAZAM will roll out Pentagon to its nearly 1,500 community financial institutions and their merchant customer base. The technology behind the Pentagon mobile payments application is unique to the marketplace as it uses Adaptive Payments' 5DSecure(TM) five factor-dual channel authentication technology to authenticate PIN debit transactions quickly and securely. The Pentagon solution breaks new ground by being the first and only solution to use the consumer's phone for PIN capture and using Adaptive Payments' patent pending, outside-of-band authentication technology. The PIN is captured in a second channel and is never stored virtually with the cardholder's card data or personal information. Security is a hallmark for Adaptive Payments and Pentagon is no different. In addition to accepting PIN debit, Pentagon uses 3DES to encrypt the magnetic stripe right at the read head. The transaction produces a Regulation E-compliant receipt that is delivered to consumers via SMS text message. Pentagon also captures and stores an image of the signed receipt. The mobile payments space is becoming crowded with many look-alike payers but Adaptive Payments stands alone.
SHAZAM, Inc. announced in partnership with Adaptive Payments development of a new mobile POS application known as Pentagon. Pentagon is a mobile payments platform, which allows merchants to accept mobile PIN- and signature-based transactions using an iPhone(R). The technology that supports the Pentagon mobile payments application is unique to the marketplace as it uses Adaptive Payments' 5DSecure(TM) five factor, dual channel authentication technology to authenticate PIN debit transactions quickly and securely.
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