GEOACL

One of the biggest concerns today's consumers have is the risk of fraud when they're shopping online. With highly sophisticated malware and savvy cybercriminals, customers' card and bank information can easily be stolen if a merchant doesn't take the proper security measures. The GEOACL service helps prevent fraud by verifying request location of the online transaction. 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 engage in ecommerce. Banks also avoid losses by not paying for unauthorized transactions.

Learn more about GEOACL's ability to provide two factor authentication authentication for e-commerce applications by clicking here

The GEOACL solution is a flexible authentication and authorization solution that works transparently during an online transaction. GEOACL's service based architecture makes it easy to integrate its multi-factor authentication into current online payment approval process regardless of platform.

User have full control over where their eCommerce accounts can be accessed and upto what amount purchases can be made from valid locations. Hackers cannot just steal credentials and make purchases on behalf of users.

Allow customers to decide from where they can do ecommerce and other online transactions using their credit/debit/ATM/Gift/Virtual Cards and set limits for transactions and spending limits for valid locations.

Sample GEOACL Configuration & Working for Securing eCommerce Transactions

John Smith wants to use his credit card with overall credit limit $10000 for online 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 given location's centre. He doesn't want to allow his credit card to be utilized from any other location for online shopping. Also he wants to further security by limiting amount of invoice during online payment to $1000 maximum if credit card used from ‘times square, NYC’ area. Based on this requirement, when ever John does online payment, our system will check his credit card details and current geographical location against locations configured in system by John himself. 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 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 $1000.

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.