About the Company
Ondot’s real-time platform, built upon an API based services oriented architecture, gives financial institutions a competitive edge by increasing mobile engagement and empowering their customers to personalize, manage and control how payments are made, resulting in higher usage of payment instruments while lowering fraud incidents.
Ondot provides a set of mobile-based services that provides cardholders with the ability to control when, where, and how their cards are used. These services can be exposed within an issuer’s mobile application, lowering fraud by 40% and increasing card use by 23%. Because cardholders can turn a card on/off as well as set parameters around amounts, merchant type, and location, digital engagement increases while false declines decrease by an average of 16%. Ondot’s turnkey implementation services have helped us successfully deliver these types of results to issuers around the world, including the United States where we power 85% of all mobile-based card services.
Switch It Off. Lock or unlock cards with a single touch. With ultimate control comes peace of mind.
Control By Location. Specify location preferences for “active around me” or a region on a map. Presence of cardholder at merchant location is proof positive, and absence of cardholder is strong indicator of potential fraud.
Control Preferences. Set merchant types, transaction types, and spend limits. Cardholders can personalize preferences according to their unique spending behavior.
Instant Transaction Alerts. Act instantly on real-time transaction alerts and offers. Higher engagement drives consumer loyalty and increased card usage.
Self Service. View available balances, analyze spending, and manage transactions – tag, annotate, capture receipt images, email for reimbursement. Self-service increases customer satisfaction and lowers support cost.