“Finally someone has come up with pre-fraud technology. This is the best thing I have ever seen.
–MasterCard Worldwide
How will the associations handle this? The App is downloaded from the issuing member bank which it is registered to. This will include a card number or an encrypted token of one. When the AntiFraudCard® button is pushed on the smart phone, the time is sent along with the token card number. The association then sends this information, if the transaction is done on time, via DE 48 to the issuer.
Communication with the smart phone App is better suited for MasterCard, Visa, and Discover. The association can put the expertise and the programming into the phone App which frees up the issuing bank to concentrate on the decision. It gives the power to the issuing bank from the request of the cardholder.
