Tag: zumigo

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.

E-commerce fraud could be put to rest with the new service from Zomigo

Zumigo, a leading developer of device location and identity verification technology, has announced that it will be launching a new service that could help in the fight against e-commerce fraud. The company suggests that the service will be the first of its kind, having the ability to validate merchant payments using real-time location data from a consumer’s mobile device. Such a service could go a long way in improving the security of the e-commerce field, as well as make mobile payments more attractive to merchants.

Merchants continue to combat fraud in the digital world

Conventional payment processors can confirm payments with little issue. These processors do not protect merchants from fraudulent charges, however, especially when they come in the form of charge-backs made at a later date. In the event of fraud, merchants have typically already shipped products to their buyer. If the purchase was fraudulent, then the merchant must find some way to recover the cost of the lost product, as well as the shipping costs associated with the purchase.

New service uses real-time mobile data to verify user identity

The new service from Zumigo aims to provide a solution for this problem. The service is designed to verify a consumer’s identity through the use of mobile billing records, which are obtained through Zumigo’s partnership with Equifax. The service matches credit card information with the mobile data that is available in an attempt to confirm that the consumer is who they say they are. In the event of fraud, merchants will have the ability to pursue legal action and recover their losses because of the information that will be made available to them.

Service may help bolster faith in mobile commerce

This service could be a boon for the mobile commerce field, wherein fraud has become a serious problem. Merchants have shown interest in embracing mobile commerce, but they are wary because of the high prevalence of fraud in this sector. Zumigo believes that its new service could spur some growth in the mobile commerce field by making it safer for merchants o participate therein.