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MasterCard, Syniverse to Use Geolocation for Cards

posted by LaminatorX on Saturday March 01 2014, @07:30PM   Printer-friendly
from the two-factor-indebted-nation dept.

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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  • (Score: 5, Insightful) by RobotMonster on Saturday March 01 2014, @07:59PM

    by RobotMonster (130) on Saturday March 01 2014, @07:59PM (#9207) Journal

    This location-based system doesn't seem like it can work with online retailers, either.
    Your message-based suggestion, on the other hand, would.

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