The creator of Mobile Card Services, Ondot Systems has come up with its new software that allows you to control credit card security with the help of a smartphone.
Ondot Systems is a San Jose-based startup called the software CardControl.
The user can decide where to use that card can be utilized; whether to use in city or specific span of telephone area by utilizing their bank application.
If the credit card transaction is inside the endorsed region then it is ok if your card is used elsewhere, it’s declined.
Founder of the Ondot system, Rachna Ahlawhat said, “It’s a stage in halting the awful folk, I’m more responsible for where it can be utilized.” Further, Rachna said, “So card turns out to be less useful for a fraudster than a card which is open for utilizing anyplace.”
“My Location” is one of the highlight features of the software just permits a charge card to work if the exchange occurs close to a mobile phone.
Several tests were performed to see whether the software correctly operated or not.
The company explained that a sweep of a few miles, for the present, is the correct adjust of security and battery life.
Ahlawhat said, “The algorithm optimized to a point when there is no significant drain on the battery, but the location of the user is still so precise that you can apply these location risk controls.”
CardControl is the most recent Silicon Valley innovation to enable you to keep up, and perhaps remain one-advance ahead, of the awful folks.