Legacy mobile phone fraud fighting technologies operate within a network, as is the case with Visa and Mastercard, as well as on a card issuer’s back-end processing platform where authorization requests are either approved or declined. Typically, these back-end systems fight mobile fraud using algorithms created to fight plastic card-based fraud. A fundamentally different approach is available from start-up Paygilant — on-device security. Paygilant’s risk engine and fraud detection product learns and maps the spending behavior of each wallet user and spots fraud on in-store (NFC and Q...