TSYS, a US-based processor of merchant acquirers and bank credit card issuers, is launching a new product TSYS Authorization Controls that allows credit and debit card holders to turn their accounts on or off from any user interface.
TSYS Authorization Controls also has the capability to integrate with existing mobile and other customer service tools.
The product also allows financial institutions to provide their customers with a platform where they can manage their own account preferences such as controlling the use of card account, temporarily disable the account, set an account to permit next transaction only, enable recurring payments, and receive alerts for every transaction.
TSYS global product group executive, Paul Bridgewater, said TSYS Authorization Controls is part of their broader strategy to empower consumers by putting them in control of their accounts and allowing them to set their own account preferences on demand from almost anywhere through any device.
"This solution demonstrates TSYS’ commitment to people-centered payments, and we are now available to engage with clients on this product and its future phases.
"We are also planning additional enhancements like geo-location, time window, transaction type and other consumer controls," Bridgewater added.