Here’s a pretty slick solution for preventing credit card fraud

I’ve known the team over at Intelium for years now, and if you’ve been reading my blog for a while you’ve probably heard me talk about one of their products quite a bit – EstiBot. Well I recently found-out about a new solution that Intelium initially started using internally, and, after seeing it work for themselves, decided to roll out as its own product.

I am a big fan of software that is born out of internal use because this honestly is where some of the best software is born. Think about it – if you find yourself running into a problem over and over again, and you have a development team that can built custom software, why not solve the problem yourself if the current solutions on the market aren’t getting the job done?

That’s exactly what Intelium has done with VerifySpot and I think they’ve come up with a pretty slick solution for preventing credit card fraud.

verifyspot-site

So what’s so special about it?

VerifySpot uses the realtime GPS location of the customer to make sure the person using the card is who they actually say they are.

“After checkout, the customer is instructed to download the VerifySpot app and confirm possession of their card. The app asks the user to take a picture of the front and back of their credit card which is uploaded to the VerifySpot servers along with the user’s realtime GPS location.”

I don’t know about you, but I’ve had different credit card numbers stolen and used more times than I can count. I can also tell you that in most cases the person didn’t have a physical version of my card and they weren’t in the same location as me.

verify-spot-dashboard

Right now Intelium is actually giving VerifySpot away for free and I couldn’t find any fancy upsells on their site so it looks like they really are just letting people use a solution they built for themselves, saw working, and made it publicly available. That’s pretty darn cool IMO, which is why I’m writing a post about it.

Congrats to Intelium and team, as someone who also runs a software company I commend them on taking something they used internally and letting the rest of the world use it.

Have you ever had your credit card number stolen and used by someone else? If so do you think a solution like this would have prevented it from happening? I want to hear from you, comment and let your voice be heard!

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{ 6 comments… add one }

  • Domainer September 5, 2018, 8:42 am

    Sounds great but what about people using gps spoofing apps? How will they desl with that?

    Reply
  • Luc September 5, 2018, 9:25 am

    GPS spoofing is detectable on Android and iOS. We detect it, and then flag the verification as GPS spoofed. This lets the merchant know that the transaction is likely fraudulent since a normal customer would not try to spoof their location. Also, the app doesn’t support jailbroken iOS devices.

    Reply
  • BullS September 5, 2018, 10:05 am

    My bank already has that feature 2 years ago.

    Reply
  • Luc September 5, 2018, 12:04 pm

    oh yeah? what bank? too bad banks don’t work with merchants directly otherwise a lot of fraud could be prevented. when i call a credit card company / bank to report fraud they always say they will wait for their customer to report it… except for amex. they get them on the phone right away.

    Reply
  • BullS September 5, 2018, 1:49 pm

    My BFA and Amex credit cards are linked to my phone GPS
    Since I travel alot, that how they can keep track of my purchases via my location.
    If my phone is off, they will send a text /email alert to verify the purchase .

    Free!!

    Reply
  • Luc September 5, 2018, 1:57 pm

    Sweet! American Express was always VERY GOOD at security. Unfortunately, Visa, Mastercard and Discover couldn’t care less and they have about 91% marketshare compared to about 7.5% for Amex.

    Reply

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