LockByMobile Is Working With Visa APIs to Enhance Consumer Transaction Controls

Announced at the Mobile World Congress: Voyager Innovations, the largest digital financial solutions provider in the Philippines, is utilizing application programming interface (APIs) from global payments technology company Visa, via its recently launched Visa Developer platform, to make enhancements to its anti-fraud card control solution "LockByMobile".

 Voyager Innovations, the largest digital financial solutions provider in the Philippines, is utilizing application programming interface (APIs) from global payments technology company Visa, via its recently launched Visa Developer platform, to make enhancements to its anti-fraud card control solution "LockByMobile".

Voyager is now in the process of using the Visa Consumer Transaction Control (VCTC) APIs to develop a solution that will provide Visa cardholders from participating banks in the Philippines and key markets worldwide with spend control functionality. This could include greater visibility of their money, the ability to receive transaction alerts, or even temporarily suspend their accounts using a simple lock and unlock feature.

“The more card users derive comfort from the security of their cards in whatever form they may be, the greater their usage and money velocity. Security is definitely intrinsic to our digital life,” said Manuel V. Pangilinan, PLDT, Smart and Voyager Innovations chairman.

The more card users derive comfort from the security of their cards in whatever form they may be, the greater their usage and money velocity. Security is definitely intrinsic to our digital life.

Manuel V. Pangilinan, PLDT, Smart Communications, Inc. and Voyager Innovations chairman.

“By using Visa Consumer Transaction Controls, Visa card issuers can provide their consumers peace of mind through innovative spending controls, and more effective fraud prevention,” said Joe Cunningham, Head of Risk, Asia Pacific, Visa. “With new digital commerce experiences emerging daily, it’s important that we provide easy and convenient ways for consumers to direct and monitor how their accounts are used and help better secure the payment system.”

“Visa is committed to working with innovation partners like Smart and Voyager to provide consumers with secure, faster and more convenient ways to pay. We are looking forward to using our expertise in innovation to develop solutions that will enhance the payment experience and make everyday transactions safer and easier for our Visa cardholders,” said Stuart Tomlinson, Visa Country Manager Philippines and Guam.

LockByMobile is regarded as the world’s first mobile-based anti-fraud solution, which allows a cardholder to lock/unlock his prepaid, debit, and credit cards in real-time with a simple swipe of his finger. The patented lock/unlock feature, which started in Smart Money in 2008 was internationally recognized in 2009 by winning the “Best mobile-based security feature for online purchases” award at the GSMA Global Mobile Awards in Barcelona.

LockByMobile is Payment Card Industry-Data Security Standard (PCI-DSS) certified, a global security standard for organizations that handle branded credit cards from major card schemes including Visa, MasterCard, American Express, and JCB.

“Security is a top concern for consumers, merchants and card issuers alike. Strengthening of transaction security without compromising the consumer’s seamless shopping experience is a major opportunity for banks to empower their customers,” said Lito Villanueva, Head of FinTech, Digital Inclusion and Alliances at Voyager Innovations, and managing director of LockByMobile.

From the simple and intuitive user interface, cardholders are empowered to limit which transaction channels can be used (ATM, In-store purchases, eCommerce or online); define a daily transaction amount threshold; limit international transactions; take control of their supplementary cards by limiting their usage (children, dependents, employees, etc.); and by receiving real-time notifications through the mobile app, cardholders can monitor every detail of their transactions and if they have been approved or rejected based on their lock settings.

For more information about LockByMobile, visit www.lockbymobile.com

About Voyager Innovations, Inc.
Voyager Innovations, Inc. is the digital innovations unit of leading Philippine telecommunications company PLDT and its mobile services subsidiary Smart Communications Inc. (Smart), the largest mobile network operator in the country with more than 67 million subscribers as of end-September 2015. Its Fintech Division introduced award-winning financial innovations including digital lending platforms such as the Landbank Mobile LoanSaver, and Lendr loans marketplace; and Government-to-Person (G2P) disbursements, among others. Its parent company, PLDT is part of the First Pacific Co. Ltd. (HKEx: 142, ADRS: FPAFY) based in Hong Kong with business interests relating to telecommunications, consumer food products, infrastructure, and natural resources operating across Asia Pacific.


Categories: Security Services and Solutions, Information Technology, Banking, Finance, Insurance

Tags: anti-fraud, cards, digital, fintech, LockByMobile, Mobile World Congress, MWC2016, payments, security, telco, Visa, Voyager Innovations


About Voyager Innovations

View Website or Newsroom

We are building platforms for the digital economy.
Digital Commerce + Digital Payments + Fintech + Next Communications + Digital Media + Digital Marketing + Data Access

Nick Wilwayco
Voyager Innovations
Voyager Innovations
12F, 23 ADB Avenue, Anson's Bldg. Ortigas Center
Pasig City
1650
Philippines