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Visa tests out text fraud warnings

Started by Ewan · 10 months ago

Visa has announced a new scheme to warn customers about potentially fraudulent transactions by SMS.

Using 2,000 guinea pigs, Visa is testing a new service which will send out text or email alerts to bank customers when certain transactions are carried out on their accounts, such as when a payment is made over a certain [...] ... Continue reading »

6 comments

  • TerenceEden

    10 months ago

    I'd say this should be as standard. Every time a transaction is made on my card, I should receive an SMS straight away.

    "£12.34 @ Waterstones, W1. 0955am on 18/08/2008. Reply with FRAUD to place your card on hold."

    Or, if you're busy, a digest at the end of every day.

    Of course, this would be a lot easier if credit card companies had .mobi sites to let one check their balance.
    reply
  • Ricky Chotai

    10 months ago

    that is a fantastic idea, I agree this is what they should be implementing.
    reply
  • Ewan

    10 months ago

    We should have had this in 2003... why has it taken them X years to get off
    their arse?
    reply
  • Ben Smith

    10 months ago

    Visa's the payment processor it's you bank that would need to implement this, at least in the UK. Not sure how / if it differs in the US.
    reply
  • sevendotzero

    10 months ago

    They've stolen my idea! I blogged this here on Mobile Industry Review a few weeks back.
    reply
  • Nir

    10 months ago

    I have had this service in Israel for about 6 months. Works great! I get an SMS within seconds of the transaction with all the details and a phone number to call if the transaction wasn't mine.
    reply

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