California-based startup Ondot has rolled out a new application known as CardControl to enable cardholders control almost every aspect of their credit or debit cards use directly from their smartphones.
Called the remote control for credit cards, the new application will thwart possibility of credit card frauds by allowing users to set controls that determine how each card can be used from their smartphone.
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Ondot’s CEO and cofounder Vaduvur Bharghavan was quoted by Mashable as saying, "You use your card at a merchant the way you normally would, but you use your phone as a remote control to determine when, where and how the card can be used."
"We’re putting intelligence into the card without touching the card in any way," Bharghavan told the publication.
Using the application, the card members can set specific locations for where transactions can be executed. Furthermore, they can also select, what type and in which area, the card should be used for transactions.
Equipped with ‘around me’ feature, the application can allow a credit or debit card to only work when a user’s phone is nearby.
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