Zumigo launches its mobile location technology in India
American mobile security firm Zumigo has launched its mobile location technology Assure Radius into the India market.
The product is designed to help protect consumers, banks, and merchants in the fast growing credit, debit and mobile payments market.
Zumigo’s platform uses mobile location technology to authenticate users when making credit card purchases or ATM transactions.
It validates that a consumer is where the ATM or payment transaction is occurring. It works with any mobile phone, without an app and without altering consumer behavior.
The Assure Radius can even identify transactions while roaming domestically or internationally using Zumigo’s patent pending technology.
Zumigo’s cloud-based services are enabled with simple API integrations to the bank’s payment processing system or into a merchants’ existing shopping cart to verify identity and location of a user’s mobile device to prevent fraudulent transactions.
According to the company, solutions can be deployed by a bank for the benefit of all its customers or by a merchant to a traditional website, mobile web or mobile app.
Zumigo said that it is already working with major banks and partners in India and further details will be made soon.
Zumigo founder and CEO Chirag Bakshi said: “Zumigo is bringing new technology based on mobile networks and phones that is unique not just for the India market, but globally as well. As India and the rest of the world expand with mobile and online technology, non-cash payment methods, plastic cards and mobile wallets, security becomes extremely important for a smooth adoption to the new digital economy.”