Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Travel » Enhanced Security for International Travelers

Enhanced Security for International Travelers

By
Add to Favorites:
Enhanced Security for International Travelers
February
28

MasterCard and Syniverse, a telecommunications company, are piloting a new program using smartphone technology to provide cardholders with enhanced security and easier approvals for customers using their credit card overseas. The partnership was announced at the Mobile World Congress in Barcelona this week.

Declined transactions are commonplace for travelers due to heightened security. Up to 80% of the transactions declined were legitimate, according to MasterCard. With this new opt-in program, when a cardholder’s mobile device is switched on in a foreign location, their credit card transactions will be enabled.

Syniverse’s system will keep track of the individual’s location through the use of geotagging to make sure they are actually present when they use their card. This information is then factored in when making the decision on whether to approve or deny a payment reducing the risk of card cancellations and payments being blocked unnecessarily.

Will peace of mind cost you?

There is one snag though. The smartphone user will have to turn their phone on and keep it on during their trip in order to use their credit cards. Many people traveling internationally turn their mobile phones off to avoid racking up overages and roaming fees.

To help with this issue, cardholders will have access to prepaid data packages when they arrive in another country, which can be bought directly through their phones in order to keep charges down and avoid surprises.

More opportunities

Using the geolocation feature in cardholders smartphones opens the door to more opportunities for issuers and consumers down the road. A research report developed by the Strategic Economic Engineering Corporation for Syniverse suggests that this technology offers issuers a way to increase their revenue by providing customers with targeted offers based on their location.

In the future consumers who opt in may begin receiving special offers via their smartphone when passing by a particular clothing store, restaurant or a car rental company. Personalized travel rewards may also be part of this package, offering cardholders coupons or special discounts based on their location and personal preferences.

Syniverse is technology and business services company, that provides roaming, messaging, business intelligence, database, and network services to the telecommunications industry. MasterCard has over 2 billion credit cards in circulation worldwide.

Add to Favorites:

Related News:

MasterCard Steps Up Fraud and ID Theft Prevention

By Elizabeth Nelson, Posted: June 17, 2014

In the face of several recent major data breaches and increasing consumer concern about payment security, MasterCard is putting in place new measures to protect cardholders. Continue reading
Freeze It! Disover's New Feature

By Dar Dowling, Posted: April 20, 2015

Have you ever lost or misplaced your credit card and wished you could freeze your account without having to make a call to your credit card company? Discover has now turned that wish into a reality with a Freeze It, a new feature on their ... Continue reading
MasterCard Helps Small Businesses Moving Toward EMV Technology

By Dar Dowling, Posted: May 08, 2015

MasterCard has rolled out its 360° campaign designed to give small businesses a leg up when it comes to preparing for the EMV and chip card technology conversion. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 50,000 bonus miles after you spend $3,000 on purchases in the first 90 days — that's enough to redeem for a $500 travel statement credit
For Excellent/Good Credit
For a limited time, earn 50,000 American Airlines AAdvantage® bonus miles after making $3,000 in purchases within the first 3 months of account opening
For Excellent/Good Credit
$250 Air Travel Credit each year
For Excellent Credit