Tag: location based technology

The credit card giant will be working with Syniverse on this location based verification checking.

With the explosion in the number of smartphone users that there are around the world, MasterCard is working to capitalize on these consumers – particularly those travelling internationally – and to encourage them to use their services without the risk of losing time, patience, and money to security problems, by using geolocation technology for verification.

A new security system is now being implemented to confirm credit card payments through customer smartphones.

This is not an entirely revolutionary process, but instead uses geolocation technology as a variation of the current standard two step process of authentication. However, instead of requiring the smartphone user to enter an additional login code, as is the case with certain web services, the proposal of MasterCard is to use the GPS function from mobile devices, which has become a standard function in most smartphones.

The idea is to use geolocation technology to show that the card and user are in the same place.

What this means is that if the smartphone of the credit card user is located in the same place as the card when it is being used, then the transaction receives approval. MasterCard has said that this helps to shrink the chance of both unauthorized attempts to use the card and of declined transactions that are actually valid.

The one problem that has been identified that could cause a considerable problem to this mobile security system is that when users travel internationally, the odds are that they will have shut off their data service in order to help to reduce the chance of building up expensive roaming charges. This would eliminate the benefit of the concept behind MasterCard’s validation service.

MasterCard has not failed to recognize this issue. The company is, therefore, working to offer prepaid data packages that can be purchased directly through their own mobile devices from the moment that they arrive in another country. This is meant to help to encourage users to keep their data connection enabled so that they will be able to use the added security based on geolocation technology.

AR is the next step that the major Canadian bank is doing to compete within its market.

Royal Bank is updating its mobile application to help to incorporate a number of new state of the art features to appeal to customers who enjoy location based mobile services, but with a unique twist in the form of an augmented reality app element.

All a user needs to do is to open the map in the application and the AR feature will display the results of the query.

The augmented reality app is meant to help to make it easier for customers to be able to find the nearest Royal Bank (RBC) ATM or bank branch. The AR function provides a live streetscape that uses icons to guide the customer to the nearest location, including the distance to get there. The key to this update is to make the location feature easier and more convenient for the customer to use.

The bank’s augmented reality app is only the latest in its many smartphone friendly options.

According to the head of the emerging payments division at RBC, Jeremy Bornstein, “Making continuous improvements to our mobile app to allow our customers a smooth user experience is a priority for us.” The tool that allows customers to locate branches and ATMs is among the most commonly used in the existing mobile app from the bank, he added.

The bank believes that by combining this popular feature with a live street view that incorporates various location based elements, it has enhanced the usability and effectiveness of this tool in a very practical and appealing way.

In order to use the augmented reality feature, the latest version of the mobile app is required. The “Find a Location” function needs to be opened and the icon the icon can be tapped to turn the smartphone’s camera feature on . The application then links the compass in the device with the live image and its location based service with the RBC location database in order to guide the customer to the nearest branch or ATM location.

That location is presented on the screen and then the augmented reality app provides on screen directions to bring the customer from his or her present location to that of the desired ATM or branch.