November 2, 2016
Elan Financial Services is now offering a Geolocation Service app that will match the location of a credit card transaction with the location of the user’s phone.
The VISA-developed Geolocation Service is a new, opt-in technology available through Elan partner credit unions via the Elan mobile app that will show that the user is actually in the location of the transaction. By matching the location, Elan can help ensure that transactions on customers’ cards are approved, minimizing disruption and further reducing the risk of fraud.
John Owens, senior vice president and general manager, Elan Credit Cards, said, “When your member’s phone is on and they’ve opted-in for geolocation, Elan can validate that the expense is legitimate and avoid member frustration. The last thing your members want to worry about when they’re away on vacation is whether their credit card will be declined because the transaction is in New Orleans and the customer lives in San Diego.”
The technology is being offered to Elan’s credit union partners to help them deliver a more convenient and more secure payment experience wherever consumers might travel.
"When your member’s phone is on and they’ve opted-in for geolocation, Elan can validate that the expense is legitimate and avoid member frustration."