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Use registered mobile GPS location and POS GPS location to verify online and credit card transaction to prevent fraud

IP.com Disclosure Number: IPCOM000246368D
Publication Date: 2016-Jun-02
Document File: 2 page(s) / 26K

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The IP.com Prior Art Database


Use GPS location of registered mobile and point of service (POS) device as an added authentication method to secure online/credit card transaction. If the GPS location of both devices matches then authenticate the transaction. This will help to prevent any fraudulent transaction made using the stolen/duplicate credit card.

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Use registered mobile GPS location and POS GPS location to verify online and credit card transaction to prevent fraud

Disclosed is a system where GPS location of user's registered mobile device and point of service (POS) device will be used as a parameter to authenticate the online/credit card/ATM transaction. Although we have pin as well as password for debit and credit cards, but still in many cases thieves are able to steal this information and were able to do transaction from others account using those information.

Here we are talking about adding another level of security where only having the card and PIN etc. will not be enough. However the user does not have to remember any additional things or need to do any extra step for their transactions. They just have to be in possession of their registered mobile phone which these days as per research - people carry all the time.

Every bank account and the card are associated with registered mobile number. When any transaction is happening online (like fund transfer, credit card purchase etc etc) where money is deduced from the user account, normal authentication step will be followed as it is. Credit card swiping machine, ATM will have GPS capability within it. GPS location of the machine and the registered mobile location will be matched for extra step of authentication.

So, just by grabbing user information, no one will be able to take money from others account. Also, user do not have to provide any information manually (like OTP or security question answer) for this addition...