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AnonTechie writes:
"MasterCard is partnering with mobile technology company Syniverse. The two will deliver a service to fight credit-card fraud by linking the user's card with the user's mobile phone. This will be an opt-in service and it is still in pilot-phase. Geolocation data will be key in making this work; the person will need to have both the phone and card. In order to complete any card transaction the user will need to have that mobile device switched on to a specific geolocation while abroad. A credit card user's point-of-sale details will be correlated with the geolocation of the mobile device. The true location will be identified, reducing the likelihood that criminals are able to buy goods with stolen cards."
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MasterCard, Syniverse to Use Geolocation for Cards
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Everyone hates me because I'm paranoid.
(Score: 3, Interesting) by FakeBeldin on Saturday March 01 2014, @07:53PM
Apart from the obvious privacy problems, this scheme kind of needs a data connection to work.
Does Mastercard have any idea how high data roaming fees are?
(Score: 2) by frojack on Saturday March 01 2014, @09:42PM
Well, its opt in.
If data roaming is something you can't afford, just opt out.
Chances are the transaction will go thru if they can't reach your phone at all, and would only be blocked if your phone was in Iowa and your card was swiped in Las Vegas.
But realistically, data roaming is just not that expensive anymore, and the amount of data they would have to send is probably already collected and uploaded to either Google or Apple.
No, you are mistaken. I've always had this sig.
(Score: 1) by Hawkwind on Saturday March 01 2014, @09:49PM
Like grandparent I see this as a problem. My family's biggest issue with credit card companies is getting transactions to go through when overseas. OK, actually when we're in one specific country where my wife and kids are dual citizens. I wonder if we could have two cell phones ties to one card?
(Score: 3, Informative) by frojack on Saturday March 01 2014, @10:17PM
Have you ever looked into Chipped card? [visa.com]
On her last trip to the UK, my wife was advised to get a chipped card. Pretty much everywhere but the US uses these, and its going to be mandatory in the US soon too.
No, you are mistaken. I've always had this sig.