Mastercard to introduce geolocation protection for credit cards
01/03/2014 12:19 pm EDT

share with your network:

Mastercard and roaming infrastructure company Syniverse have developed a protection method for credit card transactions abroad with help from a phone’s location, PC World has reported. The service will enable card transactions for users only when they have their mobile device switched on in a specific geolocation abroad. The aim is to reduce fraud and decrease the number of real transactions that are declined. “Between 50 and 80% of transactions that are declined are actually legitimate transactions, but they are declined by financial institutions for security reasons,” said president of Global Strategic Alliances at MasterCard, Hany Fam.

About the Author

share with your network:

Share your view

© 1996-2015 Media quest FZ LLC A media and entertainment company
Middle East Main Office
[email protected]
© 2015 Dubai Business | Ameinfo . All rights Reserved.