Welcome!

News Feed Item

A safer way to online shop

New online payment method would eliminate fraud, help secure Cyber Monday sales

DALLAS, Nov. 16, 2012 /PRNewswire-iReach/ -- As soon as Kara Miller spotted the Kate Spade handbag on eBay, she knew she had to have it.

But when the bag arrived, it bore little resemblance to the online photos she had studied. It was clearly a fake. Miller lost the money and has not purchased anything from eBay since the incident several years ago.

"It was disappointing," said Miller, a marketing executive in Dallas. "Honestly, I didn't even bother trying to get my money back because I figured it would be a losing battle."

Miller's experience has long been a frustrating downside in consumer-to-consumer sale sites. But a new tool developed by an Olympic gold medalist could have prevented the fraud from occurring while providing protection to buyers and sellers.

Called Secure Trans, this new payment and inspection method could change how sales are made on sites such as eBay or Amazon.

Here's how it will work: Rather than shipping an item directly to the buyer, the seller would ship it to a neutral location, such as a retail store. The buyer would go to the store and inspect the item while being monitored by cameras and store employee. The buyer could accept the item and finalize the payment, or reject and have it shipped back to the seller.

Steve Lundquist, an Atlanta businessman and 1984 winner of two Olympic gold medals in swimming, developed the idea for Secure Trans after a friend purchased tickets to an Aerosmith concert. The tickets arrived too late, and the friend missed the concert. It took three months for him to recover the money.

"I thought, 'There has got to be a better way,'" Lundquist said. "A lot of people avoid person-to-person sales websites because they are worried about fraud."

Lundquist enlisted the help of Scott Hemingway, a Dallas attorney, who secured patents for Secure Trans.

"This patented technology will fundamentally change how consumers make online transactions in the future," said Hemingway, who specializes in intellectual property cases. "This eliminates fraud on both ends and provides consumers with a safer, more secure way to shop online."

Lundquist and Hemingway plan to implement the program with jewelry, watches, and collectibles but hope to expand to other high-end items, such as electronics and valuable memorabilia.  The patented method could eventually help further the reach of sites such as Craigslist and online classifieds that now tend to involve local sales.

The partners are meeting with executives from various carriers and large retail stores that could serve as neutral inspection sites.  Businesses would receive a small fee, Lundquist said, but the real benefit would lie in the additional foot traffic.

"People would come in and remember they need milk, bread or whatever," he said. "Businesses would need no extra staffing to do this, but would see more foot traffic."

Currently, companies such as eBay and Amazon have procedures for sellers and buyers to appeal cases, Hemingway said, but the process can be lengthy and often unsatisfying.

Secure Trans would streamline the process and protect buyers, sellers and companies. 

"This will revolutionize person-to-person sales and guarantee safe, secure transactions with immediate dispute resolution."  Lundquist said.  "This takes fraud out of the picture."

About

Steve Lundquist is an Atlanta business executive. Lundquist won two gold medals in 1984 in the 100-meter breaststroke and the 400-meter medley relay. He is a graduate of Southern Methodist University, and he earned an MBA from Northwestern University.

Scott Hemingway is a partner in Hemingway & Hansen, an intellectual property law firm in Dallas. In his 20-year career, Hemingway has litigated patent, copyright and trademark disputes in U.S. Federal Court. Hemingway has extensive experience patenting semiconductor and computer-related inventions but also has worked on cases related to thermoelectric storage containers, aluminum baseball bat designs and frozen food preparation techniques.

Media Contact:

Scott Hemingway Hemingway & Hansen, 214-292-8301, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Hemingway & Hansen

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyer belt between the Software Factory and production stages. Artifacts are m...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Cloud resources, although available in abundance, are inherently volatile. For transactional computing, like ERP and most enterprise software, this is a challenge as transactional integrity and data fidelity is paramount – making it a challenge to create cloud native applications while relying on RDBMS. In his session at 21st Cloud Expo, Claus Jepsen, Chief Architect and Head of Innovation Labs at Unit4, will explore that in order to create distributed and scalable solutions ensuring high availa...
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, d...
Internet-of-Things discussions can end up either going down the consumer gadget rabbit hole or focused on the sort of data logging that industrial manufacturers have been doing forever. However, in fact, companies today are already using IoT data both to optimize their operational technology and to improve the experience of customer interactions in novel ways. In his session at @ThingsExpo, Gordon Haff, Red Hat Technology Evangelist, shared examples from a wide range of industries – including en...
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
In his session at @DevOpsSummit at 20th Cloud Expo, Kelly Looney, director of DevOps consulting for Skytap, showed how an incremental approach to introducing containers into complex, distributed applications results in modernization with less risk and more reward. He also shared the story of how Skytap used Docker to get out of the business of managing infrastructure, and into the business of delivering innovation and business value. Attendees learned how up-front planning allows for a clean sep...
Detecting internal user threats in the Big Data eco-system is challenging and cumbersome. Many organizations monitor internal usage of the Big Data eco-system using a set of alerts. This is not a scalable process given the increase in the number of alerts with the accelerating growth in data volume and user base. Organizations are increasingly leveraging machine learning to monitor only those data elements that are sensitive and critical, autonomously establish monitoring policies, and to detect...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chie...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. Jack Norris reviews best practices to show how companies develop, deploy, and dynamically update these applications and how this data-first...
Intelligent Automation is now one of the key business imperatives for CIOs and CISOs impacting all areas of business today. In his session at 21st Cloud Expo, Brian Boeggeman, VP Alliances & Partnerships at Ayehu, will talk about how business value is created and delivered through intelligent automation to today’s enterprises. The open ecosystem platform approach toward Intelligent Automation that Ayehu delivers to the market is core to enabling the creation of the self-driving enterprise.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., discussed how these tools can be leveraged to develop a lasting competitive advantage ...