MasterCard Protects Purchases Via Location

MasterCard is debuting a new program that protects purchases made on credit cards based on smartphone location. In partnership with Syniverse, the program lets customers protect purchases made in foreign countries unless their smartphone is also in that location. It limits fraud, and takes the toll off of call centers, in that customers don’t have to call banks to alert them to travel plans. The system simply sees that you’re in the same place as your purchases, and clears them. As far as privacy of location is concerned, MasterCard says that the program is only opt-in, so there’s no automatic activation. It’s also said that it will be combining the program with select offers for specific locations, so users in the program can expect to see coupons and offers for things around them, a key step forward for brands looking to work with MasterCard on digital campaigns.