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. (OTC: 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/.
Safe Harbor:
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
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Chris Jackson
612.961.4536
Chris@CyberloQ.com