MasterCard has unveiled plans to raise the bar on everyday peace of mind, creating global consistency across a series of controls and alerts offered to cardholders.
The features – which deliver greater convenience and real-time access to account information — are offered to help protect issuers, merchants and cardholders from fraud.
To reduce frustrations associated with potential declines when using their card outside of “normal” routines, MasterCard is making verification of the cardholder as easy as turning on your mobile phone. In partnership with Zumigo, MasterCard will offer a mobile app-based solution that delivers location alerts triggered by pre-set digital boundaries whenever cardholders travel domestically and internationally.
This adds to the company’s ongoing activities with Syniverse which leverages mobile network roaming data to verify the cardholder’s location. Currently available for UK cardholders with phones through EE and other key mobile network operators, the program continues to expand to additional markets across the globe.
Each payment card has an expiration date to help ensure the ability to update to the latest technologies and security protections. However, this has also meant that cardholders would need to update their account information for recurring subscriptions, monthly gym memberships and other recurring bill payments when the new card is issued. To eliminate this inconvenience – and the potential for an interruption in service – MasterCard will offer its Automatic Billing Updater (ABU) service globally to seamlessly provide the new account information.
Since 2007, MasterCard has offered the In Control platform, providing real-time account alerts via SMS or e-mail that help cardholders set spending limits and “turn on” or “turn off” their credit, debit and small business cards at certain merchants or in certain geographies.
Each issuing bank can choose the most appropriate features and benefits for their cardholders. The cardholders can then access In Control either through the bank’s mobile app and website or at a standalone site.
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