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TheStreet Open House

DSS's AuthentiSuite Anti-Counterfeiting Solutions Featured On Fox & Friends

Stocks in this article: DSS

ROCHESTER, N.Y., Feb. 10, 2014 /PRNewswire/ -- Document Security Systems, Inc. ("DSS") (NYSE MKT: DSS), a leading developer and integrator of security technologies, announced today that DSS's AuthentiSuite TM anti-counterfeit solutions were featured on the Fox News Network's show Fox & Friends.

Jeff Ronaldi, Chief Executive Officer of Document Security Systems, provided Fox viewers nationwide with a live demonstration of both AuthentiGuard ®, DSS's smartphone-based solution to prevent and detect counterfeit product packaging and labels, and AuthentiSite TM, DSS's app to detect fraudulent and counterfeit websites. The segment, which can be viewed on www.AuthentiGuard.com, outlines the potential pitfalls of shopping for deals on Valentine's Day and illustrates how DSS's technology can be used to provide consumers with peace of mind.

Ronaldi, stated, "We thank the cast and crew of Fox & Friends for the opportunity to show how our technology can be used to protect consumers from counterfeits. Sales of counterfeit products are, by many estimates, over 5% of all global trade today. Our technology provides a new tool for Brand Owners everywhere to protect consumers from bad actors selling inferior and sometimes dangerous products."

While consumers are largely aware that fraudulent websites and counterfeit products exist, it is often difficult to verify if a website is an authorized retailer of a branded product or to confirm a product's authenticity once it is received. According to a recent online survey conducted by Harris Poll on behalf of Document Security Systems among US smartphone users (ages 18+),

  • 57% report that they or someone they know has received merchandise that did not match the product description.
  • 54% of smartphone owners report that they have decided against making an online purchase due to a concern DSS is capable of addressing such as; not knowing if the seller was "for real"/legitimate, they have never heard of the seller, worried the product they were looking at might be counterfeit or they didn't know how to make sure the product they thought they were buying was the product they would receive.
  • Roughly half of all smartphone owners say they would be much or somewhat more likely to shop online for electronics (55%), apparel (48%) or Luxury/Fashion items (47%) if there were a one-step way to verify that merchandise is legitimate when making an online purchase.

DSS's AuthentiSuite solution is designed to fill the need for consumers with a one-step process that allows them to shop online without fear of counterfeit or fraud.  Using the AuthentiSuite smart phone app, the consumer simply scans a mark on the website, prior to making a purchase, to verify that the site is legitimate. Then when the consumer receives a package, they can scan a mark on a product's packaging to verify that what was sent was authentic.

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