MasterCard and Syniverse launch geolocation card verification service

MasterCard and Syniverse have launched a number of mobile and payment services for mobile users to use while travelling abroad.

During Mobile World Congress in Barcelona this week, the two organisations announced a pilot for an opt-in service which will only enable card transactions when customers have their mobile devices switched on in specific geographical locations.

This service aims to relieve the frustration of having transactions unnecessarily declined in other countries and reduce fraudulent payments when cards are stolen.

Hany Fam, president of global strategic alliances at MasterCard, said: “By leveraging the speed and intelligence of our global network and combining it with geolocation solutions, we are enabling your MasterCard to uniquely work where you and your phone are, anywhere in the world.”

Approximately 75 million mobile phone users travel abroad each month, but 70% of these users still switch off their mobile data function when they arrive to avoid costly roaming charges. The partnership could lead to users having a choice of prepaid data packages they could purchase from their phones.

Additionally, the partnership could implement targeted marketing from certain brands relevant to the location of mobile devices.

Research has discovered a market value of $44bn for operators providing services to brands based on mobile context – opted-in information based on mobile users’ behaviour and location.