Ondot empowers consumers to control payment cards from mobile phones.
Consumers can set control preferences to match the desired usage profile for their own cards as well as their dependents' cards, and change it instantly when needed, all with a touch on a smartphone app.
Switch Cards On and Off Instantly.
Turn your card on and off with a single touch, and the status is changed immediately. With ultimate control comes peace of mind.
Correlate Mobile Phone and Transaction Location.
Leverage the power of mobile to keep your card active around you, or only within a specified region on a map. Presence of your phone in the vicinity of the transaction is proof-positive, and its absence is a strong indicator of potential fraud.
Choose Merchant Categories.
Enable specific categories of merchants, depending on expected card usage. For example, you can enable groceries and fuel for everyday purchases, but disable entertainment and travel until required.
Customize Transaction Types.
Enable specific types of transactions, depending on expected card usage. For example, if you do not shop online often, you can disable eCommerce but turn it on instantly when required.
Card Control works for all types of payment cards – debit, credit, and pre-paid – and all payment methods – in-store, online, and auto-pay. Financial Institutions can add Card Control to existing cards without having to reissue new cards to their customers.
According to your peers:
“Engaged card holders are more loyal, have higher deposits, and also come to us for loans and other financial services, which drives additional pull-through revenue.”
Chief Financial Officer, Lone Star National Bank
Industry research shows:
Direct fraud costs for financial institutions exceeded $11B in 2013.