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Stop Losses Due to Credit Card Theft & Fraud
The First & ONLY Proactive Credit Card Fraud Prevention System
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Product Opportunity/Summary

This site will introduce the Sentry Card™, a newly patented technology available for licensing. The Sentry Card™ is a credit card fraud prevention system that provides immediate and reliable indication that theft, fraud or unauthorized use of a credit card has occurred, and begins an immediate procedure that cancels and reorders the cards in question. The Sentry Card™ looks and feels like a real credit card and when used by a thief, immediately begins the process of theft management. The Sentry Card™ system effectively protects a user’s credit and works to deter criminals, detecting identity theft before loss occurs.

The Cost of Identity Theft:
Identity Theft costs almost $53 billion. The total loss to merchants and individual victims for all types of reported identity theft--both new account and existing account frauds is almost $53 billion dollars annually. In 2007 $16.8 billion was lost to lost and stolen credit cards alone, accounting for over 37 percent of all fraud cases.

Americans spent 300 million hours resolving issues related to identity theft. Between individual and business identity theft victims--an average of 30 - 60 hours per victim was spent on handling various matters related to identity theft including new accounts, existing account and other frauds.


The Sentry Card™ is a new weapon against identity theft that provides participants a “trigger” card or dummy card that looks like an actual credit card. The Sentry Card™ can have an issuing bank’s logo, a Visa®, MasterCard®, American Express® or Discover® logo and cannot be identified by a thief. The trigger card waits among live cards and if used, immediately triggers a chain of actions that aid in the capture of the assailant and the restoration of all accounts. Because the Sentry Card™ participant is aware of the function of this card the only potential for use is by a thief.

Once activated the are several functions/actions triggered by
the Sentry Card™ service
:

  • Cancellation of all credit and debit cards registered with the system by the cardholder.
  • New cards are automatically ordered for the victim and sent to a pre-verified address.
  • The Sentry Card™ system notifies any third party with an interest in the event such as credit card issuers, banks and governing federal agencies.
  • The Sentry Card™ offers real-time notification to credit reporting companies, which in turn causes an immediate red flag being issued to stop the opening of new accounts and other actions, which is an integral part of preventing additional theft.
  • An optional service then attempts to gather information about the unauthorized user. This may include requiring the store clerk to request information such as I.D. or biometric data, such as a fingerprint. Usage could also initiate the focus of security cameras and the alerting of security personnel for immediate pursuant of thief.
  Sentry Card™ at a Glance  
Patent Number.........................................United States Utility Patent No. 6,955,294
  Industry...................................................................Commerce and Fraud Protection  
  Market...........................................................................Every U.S. credit card holder  
  Target Market size....................................................................................173 Million  
     
 

Key Benefits:

 
 
  • Early fraud detection and prevention
  • Automatic deactivation of stolen cards and issuance of new cards
  • Reduced losses to card holders, merchants and card issurers.
 

The Sentry Card™ has the potential to stop consumer identity theft before the consumer even realizes their belongings are missing. Immediate response to fraud by the cancellation, notification and issuance of new cards means less time life is interrupted and a quicker return to normalcy. In addition to these valuable benefits the Sentry Card™ has the potential to increase collected data on fraudulent users, reduce false fraud notifications and to save millions of dollars in claims.

Merchants, in particular, are adversely affected from the usage of stolen credit cards. Retail store merchants or online merchants that accept credit card transactions and provide a product or service, are often without recourse. Accepting a fraudulent credit card transaction means losing both the payment and the product, and often paying a penalty fee. While consumers and card issuers are offered a certain level of protection, merchants are offered none and rarely find the individuals who perpetrated the fraud and in most cases cannot even interest the police in pursuing the theft. A merchant simply has no real credit card fraud protection. The Sentry Card™ not only offers consumer protection and peace of mind but also allows the merchant increased confidence in the practice of accepting credit cards.

A survey sponsored by CyberSource Corp, a leading provider of risk management and electronic payment solutions, and independently conducted by Mindwave Research revealed the following

  • 41% of merchants say the issue of credit card fraud is “very serious” to their business
  • 57% cited loss of revenue as most significant negative business impact related to fraud,
    followed closely by loss of staff time and loss of customer goodwill
  • 73% cited inability to accurately detect fraud as key concern

Online merchants are especially vulnerable as thieves use the numbers of stolen credit cards to make online purchases. In these cases, liability for fraud shifts from the card issuer to the merchant for a ‘Card Not Present’ sale. Because this issue has such a negative impact on merchants, the licensee of this technology will have immediate allies in the widespread distribution of this phenomenal prevention method.

The target market for the Sentry Card™ consists of every U.S. citizen with open credit card accounts. According to the latest information provided by the U.S. Census Bureau, in 2007 there were 173 million Americans with open credit card accounts and that number is projected to grow to 181 million by 2010. There are nearly 1.5 billion credit cards in use in the U.S.

Licensing Opportunities
& Patent Information
 

What We Are Looking For:
Currently, we are seeking a licensing arrangement involving the patent to make, use, manufacture, market, and distribute Sentry Card™.
Please contact :

Mark Seegar,
Managing Partner,
Sentry Card International L.L.C.
at (817) 808-1836 or
e-mail at mseegar@gmail.com
to discuss this rare and lucrative
new product opportunity.

W e are not opposed to other arrangements such as Venture Capital or outright assignement of patent. If you have an idea on what would work best for you and your organization please let me know. I am available to discuss all options.

Patent Information
Mr. Seegar holds United States Utility Patent No. 6,955,294 B1 filed on August 6th, 2004, and issued on October 18th 2005.

.

The patent for the Sentry Card™ expires in 2024 commensurate with the filing date. This patent has twenty-six claims that protect the exclusive design and function of the Sentry Card™ known as the patent for Apparatus and Method or Preventing Credit Card Fraud.

 

Sentry Card Prospectus (PDF)

 
   

 

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