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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: 4, Informative) by Angry Jesus on Sunday March 02 2014, @01:07AM

    by Angry Jesus (182) on Sunday March 02 2014, @01:07AM (#9309)

    If you have ever paid with a credit card or a check then you have lost any privacy you had with that loyalty card. They cross-reference payment methods to figure out who you are because, from their perspective, trying to cloak your identity with a false address / name / phone-number is the same as someone who has moved and didn't tell them.

    FWIW, I make it a rule to simply avoid all stores that have loyalty cards - they simply don't get my money. Part of the problem is that they jack the prices up so that the loyalty card price is "normal" - compare to places like Trader Joes, ALDI, Sprouts or a Super Walmart (with grocery store inside) and you'll see that their prices are roughly the same as the loyalty-card price at the other places. Of course you can pay a premium at a place like Whole Foods, but in theory you also get a premium product for the money unlike the typical loyalty-card grocery store.

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