Real Time Fraud Prevention in Cashless Payment Channels

Introduction of plastic cards commonly referred to as Debit or Credit cards have enabled the world to make quick and easy transactions for the purchase of goods and services. However, one cannot avoid the fraud and theft asociated with plastic card.
Debit or Credit fraud includes the compromisation of customer’s card and account related information to unwanted personals and authorities, which can be used for execution of unauthorized monetary transactions to purchase goods, pay for services or to obtain funds from an account via theft.