Mobile card control functionality is converging at the intersection of fraud management and cardholder empowerment. Not surprisingly, card controls are expanding in an environment driven by people-centric mobile experiences.
As a result, consumers are finding their card networks and issuers offering a wide-ranging choice of customized card controls that can be activated at the touch of a smartphone keystroke.
Data security breaches at some large retailers in recent years stoked consumers’ worries that their debit or credit card numbers and other private information were vulnerable to hackers.
Tens of thousands of cardholders awoke to the reality that their financial data had been compromised and used for multiple purchases, especially for online, card-not-present transactions. Responding to this new reality, software developers began working with the payments industry to offer cardholder-driven control features on credit, debit, and prepaid cards.
Mercator Advisory Group’s latest research note, Mobile Card Controls: Do-It-Yourself Fraud Management, examines the evolution of mobile card controls and the increasing array of card control features being introduced by payments industry players.
The research note also addresses how card networks and issuers can benefit by presenting their customers with additional fraud management protection.
Highlights of the research note include:
Background of mobile card control development
Key industry players and card control features
Cardholder control preferences
Strategic opportunities for card networks and issuers
This document contains 14 pages and 6 exhibits.
Companies mentioned in this research note include: American Express, Chase, Discover, Elan Financial Services, Fidelity, Fiserv, FIS Global, Intuit, Malauzai Software, MasterCard, Merrill Lynch, Ondot Systems, Prosper Daily, SyntraPoint, Visa, and Yodlee.
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