In a statement released yesterday, ATM manufacturer Diebold announced the launch of its new security product, MobiTransact Card Lock, which enables a cardholder to send text messages to the service to either “lock” or “unlock” the user’s card, preventing unwanted or unauthorized usage at the ATM or point-of-sale. The new card access service is a feature of Diebold’s broader MobiTransact mobile banking product suite, which facilitates enrollment in a financial institution’s mobile banking service right at the ATM.
Part of Diebold’s MobiTransact mobile banking offering, Card Lock utilizes the mobile channel as an out-of-band authentication tool for ATM and POS transactions. The application enables users to send Short Message Service (SMS) text message commands that control the usage status of their ATM debit cards. By texting “lock” to a designated number, the user locks his or her card for all future ATM and POS transactions, preventing use until he or she unlocks the card. Texting “lock ATM” locks the card for just ATM withdrawal transactions. Sending an “unlock” command opens the card for use in any transaction until the user locks it again. Using these simple commands, Card Lock users gain direct control of their accounts for access when and where they want it.
The mobile banking platform also informs mobile banking users about all transactions that have been attempted with their ATM debit card. The alert message explains that a transaction has occurred or why the transaction was denied. This message is helpful for users who may have forgotten that their cards were locked. It will remind them to simply send a command to unlock their cards. More importantly, the message serves as an important tool to alert a user of suspicious or fraudulent activity and allows them to stop unauthorized withdrawals by locking their card.
“The Card Lock application is designed to empower consumers to further protect their own accounts against unauthorized use,” said John M. Deignan, vice president, chief marketing officer, Diebold. “By putting consumers in charge of their own security, Card Lock helps them actively participate in fraud mitigation.”