Overview
Tranwall Transaction Control (Tranwall TC) enables issuing banks to provide their cardholders with increased levels of security and convenience.
Tranwall TC provides the ability for card based transactions to be either allowed to proceed for approval or declined using rulesets. These rulesets are defined by the issuing bank and managed by the cardholder in real-time on their mobile phone.
Benefits
Tranwall TC dramatically reduces the window of opportunity for fraud by:
» Allowing cardholders to manage when and what transactions can occur
» Keeping cardholders informed on authorised and declined transactions
In the event that a transaction is declined, Tranwall TC will inform the cardholder of the event and provide the required information to authorise the transaction.
Implementation
Tranwall TC works with existing cards, and can be deployed as an opt-in service to reduce initial adoption challenges, or as a mandatory service for security focused cards.
Whether issuing a VISA, MasterCard, Amex, Diners, JCB, CUP, Discover or a private-label card, card issuers are able to control card usage per card or range of cards. Existing cards can be Tranwall enabled without reissue.
Prevent Fraud
Tranwall TC empowers your cardholders in the fraud prevention process, enabling them to either allow or disallow specific transactions types by using their mobile phones.
Only the transactions types that the cardholder has enabled for their respective card at that point in time will be allowed by Tranwall TC to continue for authorization, whilst other transactions will be declined by Tranwall TC.
This allows cardholders to reduce the time and available channels that a card can be charged, effectively reducing fraud.
Improve Approval Ratios
Fraud detection systems often incorrectly decline transactions as fraudulent. These false positives are lost revenue opportunities for the issuer as the cardholder will often resort to using an alternative card.
Tranwall TC converts these lost opportunities into legitimate approvals that are vetted by the cardholder, allowing legitimate transactions to be authorised.
Reducing the false decline ratio contributes to your bottom line by enabling a higher volume of legitimate successful transactions to be carried out by your cardholders, for large, irregular and international transactions.
Convenient & Empowering
Let your customers control which card-based transactions are permitted using their mobile phones. Facilitating control over your card base provides your cardholders with the comfort and independence of time and place to transact securely, building trust and encouraging more use of their cards.
Granular permissions defined on Tranwall TC are managed by cardholders through a multitude of channels on their mobile phones; ranging from the Tranwallet smart phone application (or your custom mobile banking app) through to simple SMS or USSD messages for feature phones.
Two Party Model
Off-the-shelf fraud prevention systems often require expensive tokens deployed with the cardholder, and costly infrastructure changes at the merchant, acquirer and issuer. These three / four party models introduce many points of failure, are complex, cumbersome, costly, and do not effectively scale.
Tranwall TC enables issuers to rapidly and effectively create a two-party-model involving only the issuer and cardholder. This model ensures complete worldwide coverage without requiring the cooperation of any other party in the transaction chain.
Product Creation
Tranwall TC’s ability to differentiate one transaction from another and compare the permissions of individual cards, provides the ability for issuers to create differentiated card products with rapid turnaround times. For Example:
– Teen cards – Parent/Guardian Controlled
– Corporate Cards – Financial Department Controlled
– Student Bursary Cards – Campus Limited
– Secure Internet cards – Enabled at time of purchase
– International Travel Cards – Enabled per Country
Turnkey Technology
Giving your cardholders the power, convenience and security of Tranwall TC is possible without changing your current infrastructure.
Tranwall TC is designed to work within your current card ecosystem and integrates with little effort through an adaptor layer that translates protocols to a normalized version of ISO8583.
Tranwall TC is available for deployment for both virtualised environments and dedicated servers, packaged as an appliance ensuring simple and rapid deployment.