US Bank adds location service to mobile banking app
U.S. Bank has added location services to its mobile banking app, enabling Visa credit and debit card customers to use their phone’s location to help verify that their mobile devices and credit or debit card are in the same location, according to a report from Mobile Payments Today sister publication ATM Marketplace.
By using the mobile device’s location in the authorization decision, U.S. Bank can help give consumers the confidence that their transactions will be approved, minimizing disruptions and further reducing the risk of fraud, a press release said. The bank’s app automatically provides this protection; customers who prefer not to use it must opt out.
“During the holiday season, consumers frequently make large purchases outside of known locations when traveling, and the location services feature gives our customers more control of their card activity, both domestically and internationally,” John Steward, president of the retail payment solutions division of U.S. Bank, said in the release.