VENICE, Fla., May 12, 2020 (GLOBE NEWSWIRE) -- CyberloQ Technologies Inc. ("CyberloQ" or the "Company") (OTC: CLOQ), a provider of advanced authentication algorithms and geofencing capabilities for data control, is pleased to announce a new collaboration with Transact Payments Malta Ltd. (“TPML”), a division of Transact Payments Ltd. (“TPL”) located in Europe.
E-commerce merchants are expected to lose $25 billion to online payment fraud by 2024, according to Juniper Research. The COVID-19 global pandemic continues to fuel the popularity of e-commerce, in turn driving heightened demand for technologies to eliminate fraud and enable secure transactions. For consumers and merchants, secure online payments are vital for the success of e-commerce.
Long considered a leader in the payments industry, TPML has built its reputation as an expert source of international payment and card solutions and regulatory compliance. The integration of this expertise with CyberloQ’s customizable data security solutions will enable the prevention of online payment fraud within multiple card networks in Europe and beyond.
“Now more than ever, the payment industry needs to be uber-vigilant in protecting client assets, personal information, while simultaneously offering a seamless user experience. This is the goal of CyberloQ as we collaborate with TPML and its network of program managers, processors, and ultimately the clients of each custom card program,” stated Chris Jackson, president of CyberloQ.
CyberloQ is a proactive, multi-factor authentication application for smartphones, tablets and laptops. The collaboration with TPML integrates CyberloQ’s customizable approach to data security, including geofencing protection, to provide an additional layer of security to TPML partners.
“CyberloQ's patented approach to data security help clients control of their data with little to no risk for fraudulent exploitation. Having a mobile app that puts the consumer in control, while simultaneously protecting our brand partners from fraud, is a huge benefit for consumers, merchants and e-commerce as a whole,” stated Aaron Carpenter, CEO of TPML.
About CyberloQ Technologies Inc.
CyberloQ Technologies Inc. (CLOQ) secures clients’ sensitive data and valuable information with a patented, aggressive and proactive approach. CyberloQ's advanced authentication algorithms, private blockchain and industry-leading geofencing capabilities give clients complete control of their data for real-time authentication and dedicated fraud protection. For more information, visit https://cyberloq.com/.
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