Cellphone maker Ericsson is pioneering a security service which will link the use of a credit card with the legal owners geographic location, as detected by the GPS system on his/her cellphone.
The company believes it could cut down on credit card fraud as well as eliminate an inconvenience for travelers using cards overseas.
Banks will no longer have to block card transactions in high-risk countries because they will be able to see from the cellphone location whether or not the card owner is actually there.
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