SoylentNews

MasterCard, Syniverse to Use Geolocation for Cards

posted by LaminatorX on Saturday March 01 2014, @07:30PM   
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."

• Re:Excessive Complexity (Score: 3, Insightful) by mojo chan on Sunday March 02 2014, @11:54AM

  by mojo chan (266) on Sunday March 02 2014, @11:54AM (#9535)

  Inside of buildings is pretty hopeless, especially on malls and places that use big metal buildings.

  Not at all. Even though it can't get your exact location it knows the general area you are in, not least by which cell mast it is talking to. This information is enough to provide local results for Google searches or allow a website to give you the nearest branch of a shop. For credit card transaction verification as long as they can tell you are not miles away from where the retailer is that should be good enough to prevent a large amount of fraud.

  --
  const int one = 65536; (Silvermoon, Texture.cs)

  Parent

  Starting Score:	1		point
  Moderation		+1
  Insightful=1, Total=1
  Extra 'Insightful' Modifier		0
  Karma-Bonus Modifier		+1
  Total Score:		3