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MasterCard Fights Fraud With Cell Phones |
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MasterCard Fights Fraud With Cell Phones
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By Allen Tsai | Wed Feb 09, 2005 9:05 pm |
MasterCard is developing a SMS fraud alert system using cell phones to clear up card-usage questions. In partnership with mBlox, a mobile messaging infrastructure provider, registered customers will receive text messages should a high-risk transaction be detected, and can then either approve or block the transaction.
"It is an add-on module that will work as a turnkey or plug-and-play solution to easily give banks the ability to reach more customers rapidly and reliably at a lower cost," says Johan Gerber, associate vice president of MasterCard's risk products division. "Instead of every bank trying to do this on their own, this SMS option is ready to use and can be installed in about an hour."Already in use in parts of Eastern Europe and Sound Africa, MasterCard plans to roll out the service worldwide; spending the past 12 months developing and testing the SMS service. MasterCard is advising banks to offer the service on an opt-in basis; requiring a registration process.
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Thu Feb 09, 2012 1:29 pm | By
Google is prepping a cloud-based service, called "Drive," to compete in the fast growing business of virtual storage.
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Thu Feb 09, 2012 12:56 pm | By
Google aims to take a percentage of every iPhone sold after completing its Motorola acquisition, raising questions over whether current patent fair use standards support fair business practices.
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Thu Feb 09, 2012 12:41 pm | By
Apple may shift litigation strategies, attacking the process of "copying" rather than products, after losing a critical patent battle to Samsung in Germany, raising questions of the iPad maker's costly and aggressive tactics.
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Thu Feb 09, 2012 12:30 pm | By
Mobile payments are far from secure, as a Google Wallet security breach illustrates even major mobile companies struggle to protect privacy.
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Thu Feb 09, 2012 12:06 pm | By
A proposed bill in Congress would strip the FCC's power to monitor spectrum auctioning, potentially opening up the airwaves to Verizon and AT&T and hobbling smaller carriers like Sprint.
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Editorials & Opinion
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The 54th Grammy Awards is just days away, and the show will harness mobile and social media technology as old media tries to keep pace with new trends among its viewing audience.
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