Dollars in Transactions
In the digital era, consumers expect to be informed and in control all the time, especially if it comes through a device like smartphone that already serves as their companion to inform, alert, guide, protect, locate and pay.
Ondot's real-time service oriented architecture (SOA) based platform powers payment solutions at more than 4,000 financial institutions across four continents to protect, engage and accelerate commerce for their customers.
These services have delivered tangible returns of over 20% increase in revenue and 15% in profitability (lower fraud and service costs) per cardholder. Here's how:
Consumer demand real time information – enable real-time visibility and two-way messaging related to their cards, accounts, transactions, and messages on their preferred channel – apps, bots, SMS, email, IVR, etc.
Consumers want to be in control – empower cardholders with app-based real-time controls based on history, context and preferences such as location, region, transaction and/or merchant type, spend limits, and instant on/off switch.
Consumers want responses now, not in minutes but in seconds – provide on-the-go card management (notify travel, report lost/stolen, activate card, increase limits), fraud alerting, and dispute capabilities from the mobile app.
Consumers expect smart protection – predictive analytics over user shared location and user initiated notifications lowers fraud and false declines.
Consumers love instant gratification – digital issuance of new and replacement payment cards allows users to immediately transact and pay online and/or with mobile wallets with virtual card number, and dynamic CVV.
Consumer behaviors are evolving rapidly – Ondot's extensible SOA platform brings user preference, context, and interaction into the payment stream to rapidly develop and deliver unique payment journeys with agility.
[Ondot] is part of what's called the on-demand economy – Consumers are now trained to expect convenience. And Card Control is as convenient as it gets.
I think this is a brilliant way for people to help protect themselves against card fraud. Even though the customer isn't typically responsible for fraud charges, it's a huge hassle when you’re dealing with fraud.
Card Controls, the latest Silicon Valley innovation to help you keep up and stay one step ahead of the bad guys!View News Segment
* Average results reported by customers or through internal data mining; Your results may vary.