Hi. It would be good to be able to block certain types of transactions as an anti fraud measure. Examples here could be non UK transactions, card not present transactions, mag stripe transactions, ATM transactions. This would allow customers to tailor the functionality to their usage and reduce the risk of compromised card details being used fraudulently. For example the mag stripe is inherently insecure and rarely used as a fallback in the UK so I could choose to accept the potential minor inconvenience of the odd decline because my card will not be accepted for mag stripe transactions but my card is now less susceptible to being compromised.
It is worth bearing in mind that banks are responsible for any fraud on your card. So even if money was taken from you due to use of insecure technology, you won’t end up out of pocket anyway.
Of course but it’s a massive pain sorting it out especially where there’s ambiguity around who was responsible for the transaction. Depends on individual banks but I’ve had to fill in and post back forms in the past.
Thanks Jonathan! I think it is a cool idea. We have discussed this previously at Mondo and will likely do something more sophisticated in the future than just offer to freeze the card entirely.