Monkeetech announced today that their patent pending â€œEyeWatchâ€ System, which uses iris scan biometric technology to combat credit card fraud, has been expanded to encompass ATM transactions as well.
June 10, 2013
Jeffrey N. Dinardo, Jr. CEO of Monkeetech,LLC, a subsidiary of Quality Door & Hardware, Inc., today announced that the companyâ€™s existing patent pending â€œEyeWatchâ€ credit card fraud prevention system has been expanded to include a patent pending system to prevent ATM and wire transfer fraud as well.
Monkeetechâ€™s patent pending â€œEyeWatchâ€ System incorporates iris scan biometric technology to prevent credit card fraud at point-of-sale transactions; internet purchase transactions and purchase transactions over mobile devices. In an amendment to that provisional patent granted today, Monkeetech expands its â€œEyeWatchâ€ System to include fraud prevention at ATMs and for wire transfer transactions.
â€œThe granting of this amendment today allows Monkeetechâ€™s â€œEyeWatchâ€ System to effectively close the loop on almost all credit card payment and funds transfer transactionsâ€ states Jeffrey N. Dinardo, CEO of Monkeetech. â€œIt represents a major step in our overall strategy to prevent credit card fraudâ€.
Kenneth Carnesi, who sits on the Board of Monkeetech and also the Board of The Lazarus Organization, a private international business consulting firm which is advising Monkeetech in its global marketing of â€œEyeWatchâ€, calls this latest development â€œabsolutely brilliantâ€. â€ â€˜EyeWatchâ€™ now has the potential to impact several different segments of the market and affords a genuine opportunity to put a real dent in credit card fraud, a truly global plagueâ€.