Zumigo has expanded its Assure suite of mobile device location and identity verification products to offer services designed to mitigate credit card fraud when card numbers get into the wrong hands.
The cloud-based service 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. Discrepancies are flagged as possible fraud, and can save merchants and banks expenses ranging from fraudulent purchases and chargebacks to reissuing credit cards.
Zumigo Assure Identity now offers services that 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, retailers can compare the name and address of the purchaser to the name and address on a mobile account as well. Additionally, retailers can obtain the location of a mobile phone 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.