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Mobile technology could improve credit card security

Fraudulent credit card transactions will be easily identifiable using mobile phone technology developed by Ericsson IPX, according to SC Magazine.

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12 May 2009

Mobile technology could improve credit card security ”

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The technology will be able to determine what country a credit card is being used in and compare it to the country in which card holders' mobile phone is being used. If there is an inconsistency, it is possible that fraud is being committed.

It will take around two seconds for the IPX technology to determine the geographical location of the card user.

The technology is being developed after members of the IPX team fell victim of credit card fraud.

Peter Garside, IPX UK and Ireland director, told the magazine: "Generally everyone who has a credit card has a mobile phone, so it is easy to marry the two to a bank to say that the subscriber is 'here'."

According to UK payments association Apacs, losses on transactions on the UK high street have reduced by 67 per cent in the past three years since the successful implementation of chip and pin.

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