Zumigo Launches Location-Based Authentication for Online Retailers
March 26, 2015
San Jose, Calif.-based mobile technology provider Zumigo this week launched a product that will validate online payments based on the location of a user’s mobile device. It will also verify that information entered during an online shopping transaction matches device information. The company said the combination will prevent more fraud for online and mobile merchants. Zumigo leverages partnerships with mobile operators and credit bureau Equifax to match personal information entered by the user (including a mobile number), with information on file about their mobile account. It also compares the real-time location of the device with the IP address, shipping address and billing address supplied by the user.
“Since merchants own the risk of online purchases, Zumigo now offers a new way for them to mitigate that risk and prevent payments fraud and e-commerce losses,” said Zumigo founder and CEO Chirag Bakshi. “Consumers will opt for convenience over security if the security is too complex, and with Zumigo users don’t need to alter how they conduct online purchases. Merchant customers turn to us to help them identify and authenticate users and reduce fraud that is so rampant with e-commerce.”