MasterCard uses geolocation to make sure you are you

If someone steals your credit card, they’d probably have little trouble racking up a hefty bar tab or buying a new TV with the plastic. But MasterCard MA+0.01% is experimenting with a new technology to change that by using your smartphone’s geolocation to verify that you are in the same location as your credit card at the time of sale.

“We can actually make sure that when we see a transaction we can confirm you are actually where you say you are,” says James Davlouros, vice president of global strategic alliances at MasterCard. Currently, MasterCard’s pilot program is available in Europe, with a commercial launch scheduled later this year in North America, Europe, and Asia.

Read more at The Wall Street Journal

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s