Mobile on the cards for Union Bank of India
Shri Arun Tiwari, Union Bank of India
Union Bank of India has launched Ucontrol, a solution which lets customers control credit card usage with a mobile application.
The solution is powered by payments provider Worldline, and Union Bank cardholders can manage usage of all their Union Bank of India credit cards from a single mobile application.
Shri Arun Tiwari, chairman and managing director, Union Bank of India, says it wants to “expand the reach of banking services to more customers” and that Worldline “is helping us build this solution for secure transactions”.
Deepak Chandnani, CEO South Asia and Middle East, Worldline, adds that frauds are “becoming increasingly sophisticated” and its solution “allows cardholders themselves to participate in the authorisation of payments made using their cards”.
Cardholders need to upload the card details on the mobile app which will enable them to manage the card in “various ways”.
Union Bank of India says users can enable and disable transaction channels like POS, ATM and the internet, as well as activate/deactivate the card(s) itself and enable/disable foreign transactions for particular countries and currencies.
Apart from controlling usage, the cardholder can also receive transaction alerts for payments made through the cards registered on the app. The bank says the Ucontrol app also allows “him” (maybe women can’t use it?) to analyse spends of the last three months. Depending on the card uploaded, the customer can monitor and analyse “his” personal spends as well as that of dependants or joint cardholders (children, spouse etc).
