Syniverse and First Performance Global Launch Joint Venture, SyntraPoint, LLC

Consumers receive real-time, cross-channel payment card transaction alerts and controls

TAMPA, Fla. and ATLANTA, Ga. – April 20, 2016 – Consumers will soon be better positioned to shield themselves from fraud and identity theft as a result of real-time mobile transaction alerts and dynamic card controls from SyntraPoint, LLC, a joint venture that has been announced today between Syniverse and First Performance Global Corporation.

Transaction alerts have become increasingly important in the payments industry, with major U.S. payment companies like Visa and MasterCard launching mandates that require users to receive some type of transaction alert on every purchase.

“These mandates, coupled with consumer demand have raised the bar for industry standards and customer expectations, and having immediate access to information regarding the status of payment activity is just one factor in the battle to protect cardholders. Today’s consumers want real-time alerts with the ability to control their card usage activity,” said Wayne Johnson, Chief Executive Officer, First Performance Global. “The capabilities of SyntraPoint will couple real-time alerts with the ability for end-users to control how and when their payment cards can be used as a comprehensive strategy for risk mitigation.”

Institutions that use SyntraPoint will be able to allow their cardholders to receive real-time alerts through multiple cross-channel delivery mechanisms, including in-app push, SMS, phone call and email. Additionally, transaction controls on purchase limits and locations will allow cardholders to define how, when and where payment transactions may occur.

“SyntraPoint’s ability to provide cardholders with real-time mobile transaction alerts and card controls exceed the minimum mandate requirements set by card issuers,” said Dave Ratner, President, Enterprise Solutions, Syniverse. “We are enabling a set of tools that increase cardholder satisfaction with the added security benefits that are necessary in today’s market while laying the foundation for future use cases to enable financial institutions to engage their members and cardholders via mobile anytime, anywhere.”

Payment card mobile transaction alerts through SyntraPoint will be available for all global, major card brands and transaction payment channels, including point of sale, mobile pay, online and ATM transactions worldwide. The technology also works in full complement with EMV and chip cards as a way to overcome traditional industry challenges in protecting transactions made online.

Both Syniverse and First Performance Global have a history of enabling technology solutions for a global marketplace across a variety of industries. Syniverse recently announced its work to help several financial institutions engage their users, including Western Union’s loyalty program, Banco Santander’s customer communications and MasterCard’s travel alerts. First Performance recently announced a partnership with G-Xchange (GXI), a subsidiary of Mynt and a wholly-owned financial services subsidiary of Globe Telecom that operates the operator’s flagship mobile commerce product GCash. The partnership enables the launch of GogoNogo, a mobile security app that allows users to turn on and turn off payment capabilities of their prepaid, debit or credit cards through their mobile devices, therefore increasing user security and purchase control.

Author: Dylan Jones

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