The solution is delivered to consumers either as a card issuer branded stand-alone application, or integrated into the issuer's existing mobile/online banking and digital wallet applications.
"Ondot is at the confluence of the payment and mobile channels, thereby bringing the power of the user's choice, user's location, and real-time user interaction to the payment authorization stream," said Rachna Ahlawat, Executive Vice President of Ondot Systems. "Consumers feel safe. Card issuers lower fraud, increase card usage, and drive contextual engagement. What's not to like when everybody benefits?"
The need to provide consumers with transaction visibility is being recognized industry-wide. Visa and Mastercard have issued mandates requiring card issuers to support the capability for cardholders to sign up for transaction alerts. Effective October 14, 2016, for Visa, and April 21, 2017, for Mastercard, every U.S.-based card issuer must give cardholders the option to register for some basic alerts. With Ondot, card issuers can meet and leapfrog the mandate requirements while offering their own branded solution that gives consumers the confidence of being in control, and drives instant engagement at point of purchase.
For more information, visit us online at www.ondotsystems.com or email us at email@example.com
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About Ondot Systems
Ondot Systems provides mobile payment card control services that decreases fraud and increases card usage for financial institutions worldwide. The white-labeled solution allows cardholders to be in control of when, where, and how their credit and debit cards can be used through their phone. Seven of the top ten card processors in the United States and 1000 financial institutions worldwide trust Ondot Systems to put fraud prevention in the hands of their cardholders.
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SOURCE Ondot Systems