MobiTransact Card Lock, a new solution from Diebold Inc., allows consumers to lock and unlock their bank cards to permit or deny account use at ATMs and point-of-sale devices. Diebold unveiled the new solution at the BAI Retail Delivery conference in Chicago held Oct. 11-13.
Part of Diebold's MobiTransact mobile banking offering, Card Lock uses the mobile channel as an out-of-band authentication tool for ATM and POS transactions. The application enables users to send SMS text message commands that control the usage status of their ATM debit cards. By texting "lock" to a designated number, the user locks his or her card for all future ATM and POS transactions, preventing use until he or she unlocks the card.
Texting "lock ATM" locks the card for just ATM withdrawal transactions. Sending an "unlock" command opens the card for use in any transaction until the user locks it again. The mobile banking platform also informs mobile banking users about all transactions that have been attempted with their ATM debit card. The alert message explains that a transaction has occurred or why the transaction was denied.
"The Card Lock application is designed to empower consumers to further protect their own accounts against unauthorized use," said John M. Deignan, vice president, chief marketing officer, Diebold. "By putting consumers in charge of their own security, Card Lock helps them actively participate in fraud mitigation."
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