View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
January 21, 2016

O2, MBNA trial new service to mitigate card fraud overseas

Mobile operator O2 has partnered with British credit card issuer MBNA to trial a new automated service to prevent card fraud abroad.

By Verdict Staff

Mobile operator O2 has partnered with British credit card issuer MBNA to trial a new automated service to prevent card fraud abroad.

Known as Travel Alerts, the new service will eliminate the hassle for customers to notify their bank when travelling overseas.

Instead customers need to opt in to the service, which will automatically detect consumers’ mobile roaming in a foreign country and notify their card issuer.

The issuer is more likely to accept a transaction made overseas, if the card transaction and mobile location are in the same country. Conversely, an issuer can review the transaction request if the transanction and mobile location do not match.

The operator said that this will reduce fraud, as well as mitigate the possibility of banks declining transactions due to suspected fraud.

The new technology has already been trialled with thousands of MBNA customers. Plans are on to roll out the service to the wider public before mid-2016, irrespective of their bank or mobile provider.

O2 global product development head Glyn Povah said: "We’re very proud to have created this world-first new technology to help address the growing issue of card fraud. Travel Alerts completely reinvents the process of liaising with your bank to update them on travel plans and using digital technology gives customers the power to update their bank in real-time."

 

 

 

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International