ROCHESTER, NY— February 10, 2014 — Document Security Systems, Inc. (“DSS”) (NYSE MKT: DSS), a leading developer and integrator of security technologies, announced today that DSS’s AuthentiSuiteTM 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 AuthentiSiteTM, 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.
AuthentiSite has been endorsed by Brides Magazine in the fashion and apparel industry and DSS’s AuthentiGuard product has been endorsed by NADDI (National Association of Drug Diversion Investigators) in the pharmaceutical industry.
To learn more about how to identify counterfeit websites and product, as well as see additional products from Brand Owners that have recognized the value of AuthentiSuite technologies, visit www.AuthentiGuard.com.
This survey was conducted online within the United States by Harris Poll on behalf of Document Security Systems, Inc. from January 2-8, 2014 among 1,015 U.S. smartphone owners ages 18 and older. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please call the DSS Corporate Office at 585-325-3610
About DSS (Document Security Systems, Inc.)
Document Security Systems, Inc.’s (NYSE MKT: DSS) products and solutions are used by governments, corporations and financial institutions to defeat fraud and to protect brands and digital information from the expanding world-wide counterfeiting problem.
DSS continually invests in technology to meet the ever-changing security needs of its clients and implements these patented solutions through the Company’s operating groups.
DSS Technology Management, Inc. (“DSS TM”), a wholly-owned subsidiary of Document Security Systems, Inc. (“DSS” or “Company”), provides strategy for DSS’s IP portfolio, as well as legal expertise and investment capital for pioneering inventions.
DSS provides counterfeit deterrence and authentication technology coupled with licensing and IP monetization solutions. When implemented, DSS technologies help ensure the authenticity of both digital and physical financial instruments, identification documents, sensitive publications, brand packaging and websites.
Forward-looking statements that may be contained in this press release, including, without limitation, statements related to the Company’s plans, strategies, objectives, expectations, potential value, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act and contain words such as “believes”, “anticipates”, “expects”, “plans”, “intends” and similar words and phrases. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results projected in any forward-looking statement. In addition to the factors specifically noted in the forward-looking statements, other important factors, risks and uncertainties that could result in those differences include, but are not limited to, those disclosed in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2013, filed with the Securities and Exchange Commission on November 13, 2013. Forward-looking statements that may be contained in this press release are being made as of the date of its release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.