The Global Cash Card Global Protect System has been enhanced to include a set of fraud detection tools that add geographically marked layers of fraud protection for all cardholders. This protection is added to every card automatically. The cardholder is also given additional capabilities that allow them to further enhance and customize this protective tool. The Geo-Fraud system has three basic components:
Time-based-geo-block - The time-based-geo-block analyzes consecutive card-present transactions to keep track of the location and time stamp of each transaction. If the coordinates and timelines do not add up, the transaction is blocked.
Spending zone - Geographic boundaries are established as the cardholder begins using the card. If a transaction occurs that deviates from the cardholder’s spending zone or evolution pattern, the system takes action. This action can be in the form of an internal alert to our fraud team, an alert directly to the cardholder via text, an automatic phone call or a real time block of the transaction.
Spending radius - Cardholders can go to the Global Cash Card cardholder website, mobile interface or even text and enter a zip code or city, and a mileage value. As long as the cardholder uses their card within this radius, all is good. If a transaction attempt occurs outside of the radius, the transaction is blocked.
Why Global Protect Matters
Based on market research, Global Cash Card found that standard fraud algorithms for other prepaid programs were not well suited for a paycard because spending patterns of paycard cardholders are typically not similar to those of prepaid cardholders. Paycard cardholders tend to have significantly more transactions and in varying geographic locations. GCC saw the need to build a fraud detection system from the ground up for a different algorithmic process that was more tailored to the paycard environment.
As always, Global Cash Card is passionate about offering industry-leading security and has specifically enhanced this app with their cardholders in mind. The Global Protect app is available now in the iTunes and Android App Stores.