Card Shield

With the increase in use of cards, we are witnessing an increase in skimming of cards as well. As pe...

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Created by Chirag Saigal | April 27, 2017

Version 1 | April 27, 2017
Cost: USD | Feasibility: Slightly Complex | Reproducible: Yes

Problem Statement

With the increase in use of cards, we are witnessing an increase in skimming of cards as well. As per a Nilson Report, the card fraud has reached $21.84 Billion worldwide in the year 2015 with a forecasted loss of more than $30 Billion a year by the year


With the help of FinTech, we can apply layers of anti-fraud measures to a credit/debit card. Using Geo-tagging, we can track and match the location from where the transaction is requested as well as where the pin is generated and in case of any mismatch, the transaction can be either blocked or ask for additional level of authorization. Using the data from the time of use of the card, we can generate the spending behavior and in case the card is used for any abnormal transaction, it can alert the owner as well as ask for an extra layer of authorization. With the use of a secure mobile app, any user will be able to control the features of the card, control spending, perform card-less transaction or even block the card for any further use.


The purchase volume using credit/debit cards is witnesssing continuous increase.

Card Purchase Volume Worldwide

With that the card fraud is also increasing substantially.

Card Fraud Worldwide

Hence, the need to increase the layers of anti-fraud protection.

Protection Layers/Shields to be added:

  • Location Shield using geo-tagging
  • Behavior Shield using transaction data of the user/account holder
  • Multiple levels of authorization than a 4-digit pin -OTP, Mobile App Code.
  • Control using a mobile app

Challenges Foreseen

Add levels/layers of security can be perceived as an added hassle by the users.