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Mastercard and Syniverse protect against card fraud with phone geolocation |
February 25, 2014
Mastercard and roaming infrastructure company Syniverse have come up with a way to protect credit card transactions abroad with help from a phone’s location.The two companies are piloting a service that 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 percent of transactions that are declined are actually legitimate transactions, but they are declined by financial institutions for security reasons,” said Hany Fam, president of Global Strategic Alliances at MasterCard.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2101781/mastercard-and-syniverse-protect-against-card-fraud-with-phone-geolocation.html#tk.rss_all
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