The location based tech will help merchants to be able to better verify transactions over mobile devices.
Mobile geolocation technology services provider, the Zumigo Corporation, has now introduced a new and groundbreaking service that is meant to use smartphones to allow merchant payments to be validated in real time.
This service was also created to help to verify the identity and credit card credentials of a customer.
The purpose of this geolocation technology based service is to help in the prevention of fraud over e- and m-commerce. The official launch of the Zumigo Assure Payments mobile solution took place in Las Vegas, last week at the Mobile Risk Council (MRC) Vegas 2015 conference. There, the mobile payments security tech was described in detail to show merchants how this type of service can add to their security and reduce the losses that they could currently be experiencing.
Merchants face considerable expenses from losses due to fraud, but this geolocation technology seeks to overcome that.
The shape of the current system states that if the processors of the merchant confirm the authorization of a payment, then if the credit card credentials are later found to have been stolen, the merchants do not receive any protection against charge-backs. Should fraud occur and the purchased merchandise has already been shipped, then there is little to nothing that the merchant can do to be able to stop the recipient from receiving the goods and from the money from being charged back to the credit card. Therefore, the merchant faces a complete loss on that fraudulently purchased sale.
However with Zumigo, the idea is that merchants are provided with an additional verification and, therefore, protection layer against the use of stolen credit card credentials in order to purchase products and services.
This geolocation technology based system allows merchants to add additional verification for the transaction using information that has been supplied by the legitimate credit card owner (such as a mobile number, address, name, etc), so that fraudulent purchases can be prevented even before they have the chance to take place. Therefore, the loss doesn’t have the chance to occur and the merchant saves his or her money.
There will be over 1,000 Apple iBeacons installed throughout the event for a spectrum of alerts, meet-ups, and other info.
This year, the SXSW music festival, which is taking place in Austin, Texas, will use geolocation technology in order to provide its attendees with a wide range of different types of onsite features, so that the people in attendance will always know exactly what is going on, and where they want to be.
The location based tech will offer alerts, information about meet-ups, and additional ways to connect with people.
This will be accomplished through the installation of iBeacons. That geolocation technology was first used by the event, last year, but to a much more limited degree. This year, though, the organizers have significantly boosted their use of location based tech. The Gimbal-created iBeacons use Bluetooth Low Energy to be able to give people attending the festival a whole new way to make connections with other people who are closeby.
The new SXSW Go app will include an “Around Me” feature based on geolocation tech so users can interact.
That feature will make it possible for the mobile app users to be able to introduce themselves to other people who are close by, through a quick message. This will help other people who use the same application to be able to find them and meet them if that is what they want to do. This iBeacon based feature has cross-platform support, being compatible with recent Apple iPads and iPhones 4S and newer, as well as the Android based Samsung Galaxy S4 and S5 and the Nexus 5 and 6.
Users of the app will also be able to receive location based alerts and messages about who may have recently arrived at the festival and who can be found nearby. The iBeacons and the Bluetooth Low Energy technology are the same type of tech that Apple uses within its own retail stores so that it can provide customers with the latest updates, product reviews, and even upgrade eligibility for their devices.
To make this geolocation technology work, event attendees will need to download and launch the app, and ensure that their Bluetooth and proper notifications are enabled.
