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Digital Identity, Security & Online Fraud

Zumigo rolls out credit card fraud prevention solutions

Wednesday 25 October 2017 | 09:56 AM CET

Zumigo Corporation, a mobile device location and identity verification provider, has released a suite of products at Money 20/20 Las Vegas.

The company’s global location and identity SaaS platform is a cloud-based service that integrates with banks’ and merchants’ processing systems to verify the identity and location of a user’s mobile device along with credit card ownership to prevent fraudulent transactions. Zumigo Assure Identity services search the consumer’s credit file using their name and address to match the credit card to their credit report. If the card is not found, it is likely that the name and address are not a match to the card.

With the Zumigo service running and using a consumer’s mobile number during an online purchase, merchants have an improved approach to detecting fraud. First, the name and address of the purchaser can be compared to the name and address on the mobile account, and any discrepancies may indicate fraud. Second, the location of the mobile phone can be obtained using only the phone number. The location can then be compared to the location of the purchasing device, the billing address, and the shipping address.

Through partnerships with mobile operators, Zumigo discovers real-time information about the ownership and location of the phone readily available with the consumer’s consent.

The mobile phone acts as a beacon for where the cardholder and credit card should be. The Zumigo cloud-based service is enabled with simple API integrations to banks’ and merchants’ processing systems to verify identity and location of a user’s mobile device to prevent fraudulent transactions. Beyond consumer consent to verify data, there are no extra steps, such as PINs to enter.

More: Link
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