Reduce
fraud and ensure cardholder authentication in Mobile
Macro Payment
Mobileway's Mobile Transaction
Tracker solution is an interactive platform for mobile
authentication. With global reach to 400 million mobile
users (Two-way messaging) worldwide, Mobileway's
solution is ideal for credit/debit cardholder
authentication following an SMS or telephone order,
utility bill payment or any other high value transaction
including fund transfers or stock trading services. The
solution will be offered to issuing banks as a
cost-effective way to authenticate their cardholders via
their mobile phone.
The Mobile Transaction Tracker employs 2-way messaging
technology to enable consumers to validate a transaction
on their mobile phone. In basing the solution on
messaging, a technology readily available on the vast
majority of the World's mobile phones, banks across the
globe can deploy the service immediately with minimum
investment as Mobileway's Mobile Transaction Tracker
does not require any modification to the handset or to
the user's SIM card.
Mobileway's solution works by managing a request and
response tracking mechanism. For each new transaction, a
unique service number is dynamically allocated in order
to originate the message sent to the consumer and track
the response from the consumer. To confirm the
transaction, the consumer only has to hit the REPLY
button this avoids having to re-type any transaction
number in the response. This is both quick and reliable,
particularly as most consumers are already familiar with
responding to text messages.
In today's increasingly mobile environment, issuing
banks are looking to mobile phones as the means to offer
customers a trusted and convenient channel for remote
payments.
