MasterCard to Allow Card Purchases Based on Location
MasterCard today announced a new program that will use customers' cell phone location data to help determine if it should or shouldn't approve purchases. The opt-in program is meant for travelers who often visit other countries. Customers register their cell phone number with the program and allow MasterCard to track the location of their phone. If the customer travels to another country and activates their registered phone in that country, MasterCard will approve transactions made there. The program does not actually facilitate mobile payments through cell phones, but ties consumers' phone number and location to their credit card. MasterCard believes it will help prevent fraud, as well as offer travelers peace of mind in knowing that when they need to make purchases abroad, their card won't be declined. MasterCard also sees it as an opportunity to offer targeted offers. Syniverse is providing the location data to MasterCard.
Samsung Pay Launches In the US
Samsung today made its mobile payment service, Samsung Pay, available to U.S. consumers.
AT&T to Use Phone Location Data to Help Curb Fraud
AT&T today announced a trial that will see the company use customer location data to help credit card companies make better decisions about whether to decline or approve certain international transactions. The pilot, which kicks off this summer, follows a similar one being tested by MasterCard and Syniverse.
Mastercard Adds Retail Mobile Payments to Bank Apps
Android owners will soon be able to use their own mobile banking app — rather than Android Pay or Samsung Pay — to make tap-and-go payments in stores. Mastercard has expanded its Masterpass program to mobile devices so consumers can make contactless payments at various retailers.
Visa to Use Phone Location to Verify Card Purchases
Visa says it is offering banks a new smartphone-based tool that will cut down on the number of declined transactions when people use their credit cards abroad. The service, called Mobile Location Confirmation, is opt-in and uses phone location to verify the cardholder's presence at or near the point of sale.
Microsoft Wallet Gains Tap-to-Pay Functionality
Microsoft today updated its Microsoft Wallet app and gave Lumia smartphone owners the ability to make mobile payments at supporting retailers. Windows Mobile has long included a Wallet app, but until today it was reserved for loyalty cards and other retail programs.
Scheme to collect more personal data