Identity and Location Verification for Card Not Present (CNP) Fraud Prevention
LocationSmart® provides the trusted mobile device location verification, presence detection and identity verification that optimizes your financial services security. Use reliable network-initiated cross-carrier location to assist with transaction verification for e-commerce and m-commerce card not present (CNP) transactions. When traditional fraud methods are not available due to the card not present nature of online and mobile transactions, the fact that the consumer most likely always has their phone in hand is a huge benefit.
According to Javelin Strategy & Research, card not present (CNP) fraud is now 81 percent more likely than point of sale fraud and it still represents one of the largest categories of losses for merchants. Using multi-source and network-initiated location of the user’s device ensures trusted results. In the event that an account is already compromised, using secure location data for post-transaction review provides cost savings and increases processing accuracy. Incorporate location insights into fraud prevention and risk management algorithms for enhanced safeguards and optimum online shopping, e-banking and mobile transaction experiences.
Whether geolocating mobile devices for CNP transaction verification or reviewing suspect fraudulent cases, LocationSmart enhances financial services security measures and increases consumer confidence.
Put LocationSmart to work for your business and recognize the benefits of integrating location intelligence into your financial services.
LocationSmart helps financial companies, merchants and intermediaries provide superior fraud management and transaction verification to enhance customer confidence and satisfaction. Assisting financial service companies with multi- factor location transaction authorization helps banks and merchants save significant time and money.
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