Of Special Interest
13th September 2011
Monitise virtual card anti-fraud offering
Monitise is to launch a virtual card system. This allows users paying for items on the internet to enter alternate card account details therefore not endangering security of their main cards. Monitise has been granted a UK patent on the system.
Monitise say that, "The virtual card, in effect a prepaid digital voucher, can be created for a fixed amount or for a specified period of validity. The risk of fraud is further minimised because the consumer can shop without having to share their bank and credit card account information if they prefer not to."
"Our innovative technology allows consumers to shop in situations where they have credit and debit cards but don’t want to use them or they don’t have access to such cards," said Alastair Lukies, CEO.
He added: "Whether it is a consumer setting up a prepaid voucher for themselves, a family member or friend to shop, or a consumer without access to bank accounts, we help people shop when they want and how they want securely and simply."