19 Aug 2008
Card issuer Visa has launched a trial to instantly alert customers about credit or debit card transactions.
The firm has teamed up with eight US and Canadian banks to run the pilot with 2,000 customers who will receive SMS or email alerts each time their card is used.
The anti-fraud alerts are triggered against a set of criteria chosen by the user including cash withdrawals, online or by telephone transactions. The alerts also cover cross border transactions.
In a statement Visa said: "Based on Visa's state-of-the-art transaction authorisation system, and its ability to analyse and conduct risk score transactions in-flight, the service allows Visa cardholders to set thresholds that will trigger a transaction alert."
Visa has been exploring the use of mobile technology for payments, alerts and money transfers since 2007 in Brazil, Canada, Germany, India, Malaysia, South Korea, Taiwan, the United Kingdom and the United States.
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