Security Hero Rotating Header Image

Mobile phone location technology fights card fraud

Mobile phone location technology fights card fraud

Ericsson is courting major banks with a security service the company thinks could cut down on credit card fraud as well as eliminate an inconvenience for travelers using cards overseas.

Banks are increasingly blocking credit card transactions in certain high-risk countries due to increasingly levels of fraud. A business traveler who lives in the U.K. but goes to Russia can likely have a transaction rejected if the person hasn’t informed the credit card company of their travel plans. It’s embarrassing and inconvenient.

Ericsson’s IPX Country Lookup service uses a person’s mobile phone to provide a confirmation that a person is actually in the country where the transaction is carried out, said Peter Garside, U.K. and Ireland regional manager for Ericsson’s IPX products.

URL: http://www.hackinthebox.org/index.php?name=News&file=article&sid=31467

Leave a Reply

Powered by WP Hashcash

Spam Protection by WP-SpamFree

Bad Behavior has blocked 376 access attempts in the last 7 days.