SOURCE: Zumigo

Zumigo

August 26, 2015 03:05 ET

Zumigo Introduces Breakthrough Mobile Location Technology for Securing and Enabling Payment Transactions in India

Zumigo Assure Radius Mobile Location Technology Now Available to India Banks and Merchants for Improved Consumer Protection and Better Customer Experience

SAN JOSE, CA and MUMBAI, INDIA--(Marketwired - Aug 26, 2015) - Zumigo Corporation, a leader in mobile device location and identity verification, today announced that it has launched its innovative Assure Radius™ solution into the India market to protect both consumers and merchants in the fast growing credit, debit and mobile payments market. Already proven in North America, Zumigo's first-of-its-kind global location and identity platform uses mobile location technology to authenticate users when making credit card purchases or ATM transactions. Zumigo is working with major banks and partners in India, with further details on developments forthcoming.

With both in-store and online credit card payments, consumers and merchants are susceptible to fraud from stolen cards, and consumers face inconvenience of card declines when travelling. Zumigo's platform delivers a passive, non-invasive security solution to verify the consumer via their real-time mobile phone location in relation to the transaction. Now, consumers are safe to use non-cash methods of payment for their purchases, and their bank accounts are secure from ATM skimmers that have been scamming consumer accounts globally. In addition, merchants can reduce losses due to fraudulent transactions.

"Zumigo is bringing new technology based on mobile networks and phones that is unique not just for the India market, but globally as well," said Zumigo Founder and CEO Chirag Bakshi. "As India and the rest of the world expand with mobile and online technology, non-cash payment methods, plastic cards and mobile wallets, security becomes extremely important for a smooth adoption to the new digital economy."

Zumigo Assure Radius passively validates that a consumer is where the ATM or payment transaction is occurring. Since it works with any mobile phone, without an app and without altering consumer behavior, there are no barriers to adoption. It can even identify transactions while roaming domestically or internationally using Zumigo's patent pending innovative technology, reducing consumer frustration due to card declines while traveling.

Zumigo's cloud-based services are enabled with simple API integrations to the bank's payment processing system or into a merchants' existing shopping cart to verify identity and location of a user's mobile device to prevent fraudulent transactions. Solutions can be deployed by a bank for the benefit of all its customers or by a merchant to a traditional website, mobile web or mobile app. Beyond consumer consent to verify data, there are no extra steps, such as PINs to enter. Zumigo uniquely authorizes transactions through customer location and identifies the right customer with the right device, using location and network data across all global networks and mobile devices.

About Zumigo India
Zumigo India Private Limited, a subsidiary of Zumigo Inc., is located in Pune, India. Those interested in Zumigo technology and services for India can contact the company at bizdev@zumigo.com or +91 9999812233.

About Zumigo
Zumigo is pioneering a new generation of mobile services predicated on providing a richer experience for customers through more relevant, context- based information. Its global solutions support marketing to customers with location in context, and securing financial transactions using mobile infrastructure. Zumigo is led by veterans of the mobile and financial industries with years of experience in developing and managing mobile solutions for some of the world's largest carriers and enterprises. Headquartered in San Jose, Calif., with a subsidiary in Pune, India, Zumigo is a venture backed company. For more information, please visit www.zumigo.com.

Zumigo is a registered trademark of Zumigo Corporation in the United States and other countries. All other trademarks are the property of their respective owners.

Contact Information

  • Contact:
    Dan Spalding
    Zumigo US
    (408) 960-9297
    Email Contact

    Naheed Contractor
    Perfect Relations Pvt. Ltd.
    +91 9324541187
    Email Contact