TSYS to release new account control solution

The solution can be integrated with existing mobile and other online customer service tools, and will help financial institutions allow their consumers to manage their own account preferences and reduce fraud.

With TSYS Authorization Controls, consumers will be able to:
• Control the use of a card account from any device or location,
• Temporarily disable the account to prevent unauthorized use,
• Set future authorizations for an account to ‘on’ or “off’,
• Set an account to authorize only the next transaction (allowing for a single use),
• Enable recurring payments despite account status,
• Receive alerts for every transaction attempted while an account is in an ‘off’ status,

TSYS provides merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip and healthcare.

In recent news, TSYS and predictive analytics and decision management software company FICO have teamed up to prevent card fraud in Brazil.