CardSwitch has developed a technology which enables cardholders to electronically lock their card accounts, if they want their card not to be used for ATM transactions in another countries, thus preventing hackers attempts to skim their cards. This technology can be applied to card-not-present transactions, out of country card payments and local ATM transactions. If a cardholder wants to set user limits to his card account, he must send an SMS command with a mobile phone and specify particular limits, by mentioning which countries the card will be used in, the period of time, as well as a certain number of transactions. Cardholders can also set these parameters online.
OpenCard currently has customers in Colombia, Costa Rica, Puerto Rico, Venezuela, Panama and the United States.
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