Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
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."