In an attempt to deal with card frauds and help money management, credit card provider Visa is to kick off trials of a new SMS notification service, which will notify a card holder via text every time his or her card is used.
Cardholders can opt to receive the updates via various modes, including text messages, mobile email, as well as to apps running on smartphones, like Apple’s iPhone and Android-based handsets.
The trial is being carried out with the Visa UK staff and its member banks, and the service will be made available to Visa cardholders if the test is successful.
Using SMS notification for alerting the customers isn’t a new concept at all, as First Direct has been providing such a facility to UK users for many years. But, citing the huge customer base of Visa, the move would surely offer a pace of mind to many users.
Sandra Alzetta, senior VP of innovation and new product development at Visa Europe, asserted that such notifications help cardholders monitor their card activity on a regular basis.
“We want to offer cardholders the reassurance of knowing, in real-time, exactly where and when their card is being used. If something looks suspicious, this will give them the power to put a stop to any fraud taking place on their cards”, she added.
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This is a great little service that Visa is offering to its customers for free. This will allow customers to monitor their usage and act as an early warning detection system which will help reduce financial fraud as it happens. Expect card companies to come up with more peripheral features as the number of paid-for cards increases.