With the launch of TranSecure, Ricoh has marked its entry into the service solutions space for financial institutions. TranSecure is a security solution for banks. The company will take this service across the financial institutions in the Indian market, which will allow banks to detect suspected fraud transactions and arrive at a more intelligent decisioning methodology to reduce false positives.
TranSecure, a geolocation technology-based payment security solution from Ricoh India, is used to help in the prevention of e-and m-commerce fraud. The service enables a bank to authenticate a user’s identity based on their mobile phone location at the point of transaction, which can be an ATM Machine, Merchant Outlet or e-commerce website. As a result, a bank can effectively and proactively determine a potential fraud transaction and take necessary precautionary measures. The solution is easy to adopt as it does not require any mobile application installed by the end-user. The service protects both the bank as well as a customer from ever-increasing card fraud. It also ensures less false positives and card declines, improving customer satisfaction…Read more