Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Visa issuers pilot fraud-warning system
NEW YORK (8/21/08)--Visa Inc. and eight credit card issuers are piloting a system that notifies cardholders of suspicious transactions by sending them e-mails and text messages. Announced Monday, the test is part of efforts to expand its mobile capabilities, Visa said. These type of alerts could make consumers more comfortable using their phones for financial services, analysts said (American Banker Aug. 20). Visa employees started testing the alerts last year. The company is expanding the tests to 2,000 employees of eight issuers in the U.S. and Canada, including Vancouver City Savings CU in British Columbia. For transactions made with Visa cards, the service lets consumers set up as many as four triggers for transactions, including:
* Cash withdrawals at ATMs; * Purchases that exceed a set limit; * Purchases made abroad; and * Online purchases.
The cardholder will receive an alert by e-mail or text message if a transaction trips any of the triggers. The alert thresholds can be set with a mobile phone or at the issuers’ online banking sites.
Other Resources

RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
10 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
11 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
11 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
12 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
13 hours ago