Financial institutions are under assault as a direct resultof data breaches and the increasing fraudulent use of consumer’s credit anddebit card information. Certainly the eventual implementation of EMVand implementation of tokenization will help to reduced fraud access to andfraudulent use of cardholder payment information – but full implementation isstill years off.
These are long-termsolutions to reducing fraud, but there is a new category of payment cardprotection that is near at hand and getting strong results in pilot tests –cardholder account controls – controlled through applications on yourcardholder’s smartphones. This newcategory of technology-based solutions for the payment industry has been discussedin a recent research NOTE, CardholderAccount Controls via Mobile Devices, by Mercator Advisory GroupDebit Analyst Ron Mazursky.
On September 17, at 12:00 – 1:00 P.M. EDT, Vantiv is hosting a Webinarcalled Empower Your Cardholders, where Mercator Analyst Ron Mazurskyand Vantiv Senior Product Manager Mobile Solutions for Financial InstitutionsMick Oppy, will talk about the coming products, Vantiv’s Card Control solution,service providers and the future of cardholder account controls managed throughtoday’s smartphones.
Cardholders willnow be able to control their payment cards like they would use a TV remotecontrol to change stations and turn the TV on and off. This category is morphing quickly andcardholders are reacting well to this solution.
Learn more about this new andevolving cardholder self-service by registeringfor the conference here andplanning to attend the webinar this coming Wednesday at noon.
Overview by Ron Mazursky, Director, Debit Advisory Service