Secure Identity Systems (SIS) has a new technology it is offering to US banks that will be free of charge to bank customers. The technology is called mConfirm and is a method of preventing credit card fraud by stopping transactions when the card holder isn’t present.

The technology uses any cellular phone to confirm that the card owner is in the same physical location as the credit card at the time of a transaction. SIS says that the service doesn’t require a GPS enabled cell phone or changes to any of the existing credit card processing infrastructure.