The mobile card management game just got a big new player.
Fiserv launched CardValet, a turnkey mobile app that gives cardholders significant awareness of and control over how and when their cards are used.
And for financial institutions, Fiserv said the app will improve customer engagement and help reduce fraud losses.
The app is available for download from the Apple App Store and Google Play Store, and lets cardholders turn their cards on and off, set spending limits, and monitor and receive alerts on transactions by category.
Jayne Berthelsen, SVP of market and product development, Credit & Debit Solutions for Fiserv talked about the in-house piloting program for the technology that helps guide development.
“Especially in light of the recent high-profile security breaches,” Berthelsen said, “our associates told us that they felt much more confident that if unauthorized transactions occurred on their card, they could detect the activity and turn their card off immediately in order to prevent fraudulent transactions.”
The company said it plans to bring CardValet’s card managing functionality to its solutions in other, digital and mobile, channels.
Founded in 1984 and based in Brookfield, Wisconsin, Fiserv last demoed at FinovateFall 2014. The company will present its latest technology at FinovateEurope 2015 in London next month. Find out more about the upcoming conference here.