Control Over Where And How much Access Allowed

  HOME » SOLUTIONS » Secure Shopping And Payment

Secure Shopping And Payment

Retail Shopping And Payment Security has always been a challenge. Stolen credit card usage is difficult to track and stop in current scenarios. Two-Factor and Multi-Factor authentication by GEOACL service stops fraud by verifying request location of the transaction (Mall, Coffee Shop, any other place of payment using Merchant POS Terminal). It limits fraud by allowing charges only upto limit specified by user for given location. With reduced fraud transactions and less hit to bottomline due to unauthorized charges and losses resulting from stolen payment cards, businesses are able to confidently accept cards as mode of payment. Banks also avoid losses by not paying for unauthorized transactions as well as not having to spend resources to investigate them in first place.

Implement GEOACL Solution for your card customers, users

Allow customers to decide from where they can use their credit/debit/ATM/Gift/Virtual Cards for shopping at Mall, Coffee shop etc. and other retail (offline) payments at physical POS terminals and set limits for transactions and spending limits for valid locations.

Sample GEOACL Configuration & Working for Securing Retail Shopping And Offline Payments

John Smith wants to use his credit card with overall credit limit $10000 for offline payments from home area (Main street, Old Bridge, N.J.), office area (located at times square, New York city) using computing devices like PC or laptop or any other or using wireless devices and mobile payment platforms or any other means.

He wants this access from within say 2 mile radius from office location's centre and 50 miles radius from home location's centre. He doesn't want to allow his credit card to be utilized from any other location for offline shopping. Also he wants to further security by limiting amount of invoice during offline payment to $500 maximum if credit card used from times square, NYC area.

Based on this requirement, when ever John does offline payment, our system will help validate current geographical location of recipient/payment accepting merchant terminal (for e.g. POS terminal) to which payment is made against locations configured in system by John himself. Merchant terminal will transmit card details, amount details and its own location details to payment gateway which will handle card details and amount validation with help of card issuer and use our system to validate location. When card details are valid, amount is approvable and location match found, amount within location limit set if any, payment is allowed to succeed.

Now even if John Smith's credit card/credit card details get stolen anyhow, hacker must have to use it from locations configured by John Smith to be able to use it. So hacker would not be able to use it from any random location and if used from within 2 miles radius of John's time square location then he would get limited access cannot use for amount more than $500.

If John Smith receives alert indicating rejection or suspicious activity or become aware that his card/card details are stolen he can immediately reduce spending limit and or reduce radius and or cut down on locations allowed.