Maximus Raksha – to secure cards

Payments technology firm Maximus has launched ‘Maximus Raksha’, a secure mobile application that allows customers to have tight, personal control over their debit and credit cards. A card control application, Maximus Raksha is offered as part of the company’s switching platform MAXIMUS S360. It will enable customers to take care of usage of multiple cards belonging to a particular bank. Using it, one can block or unblock a card and set transaction limits for different channels – ATM, POS and online. Customers can also check latest transactions and take a decision on setting the limits as per their requirement. It also displays a record that acts as a mini-statement showing the last five transactions.

The application was launched in Dubai at The Cards & Payments Middle East 2016 Conference & Exhibition. Venkat Shankar, MD and CEO of Maximus, said recent enhancements have put payment cards in nearly everyone’s wallet. “Despite the convenience and popularity of cards, there is a risk of fraud. It is important to protect and have control over the payment cards, just as anyone would have over his cash”, he added.

He also said that a card is active for around a minute in a day, on an average, for most customers. Raksha lets users block and unblock cards and also allows them to set limits, depending on the requirement, for specific transaction channels such as ATM, POS & online and the card status is modified immediately, with just a touch of a button on the mobile phone. The total transaction limit can further be broken up into individual limits for the different channels. In case the user does not set specific limits, the default limit set by the bank will apply, Venkat Shankar added.

Maximus Raksha is noted for its easy installation, purpose-specific usage, monitoring card transactions and 24×7 control.