With hacks, stolen credit card data, and identify fraud constantly on the rise, some credit card companies are looking into how to better beef up security.
MasterCard announced Tuesday that it has partnered with mobile technology company Syniverse to make it more difficult for unauthorized users to buy goods with nabbed credit cards. While working to heighten credit card security is nothing new, MasterCard's most recent plan is a bit different because it involves users' smartphone geolocation while they're travelling abroad.
The idea is that a users' credit card cannot be used unless it is within close range of their cell phone. For instance, if someone is travelling in Mexico, but their card is supposedly swiped in Canada, the transaction will be declined.
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