Fight credit card fraud with SMS

(Via Smart Mobs:) Forget all the complicated stuff to eliminate credit card fraud – welcome to the mobile world! In Hungary, credit card users receive a text message confirming each transaction, and showing their card balance. Ingenious! That’s what paybox did with mobile payment, and I loved it. Paybox also did it for money transfers, and even better: the recipient also got an email from paybox telling him his was being sent money – now why can’t banks do this? Just add a field for the email address to money transfer forms, and off you go. Costs pennies. No big deal.

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