Article#3 - System Verifies Transactions by Phone's Location

Article#3 - System Verifies Transactions by Phone's...

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Unformatted text preview: Vladimir Milosavljevic CIS 1200N Article #3 Wolf, Daniel (2008, March, 5). System Verifies Transactions by Phone's Location. American Banker , 173 , Retrieved March 15, 2009, from http://0-proquest.umi.com.library.dowling.edu/pqdweb? did=1443822721&sid=4&Fmt=3&clientId=4341&RQT=309&VName=PQD The banks have been offered system that will enable verification of cards transactions by determining the location of cardholders mobile phone, and whether are they physically close to the point where sale took place. The system developed by one Israeli company uses information about customers purchasing behavior and information about customers mobile phone location to create a risk score for transactions. Tennessee based company, Security Identity Systems LLC, is expected to gain exclusive license on this product for U.S. market. Before using this system, banks customers must agree that they are allowing the banks to use information about the positioning of theirs mobile phones. This system is expected to be banks to use information about the positioning of theirs mobile phones....
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Article#3 - System Verifies Transactions by Phone's...

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