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Industry News

Visa aims to make credit card processing safer, more financially responsible with transaction alerts

By Lauren Lindberg

18/11/2009 - Security and financial management concerns are two of the biggest barriers to consumer credit card spending, two things that Visa has attempted to address in its recent expansion of Visa Transaction Alerts.

The company announced Tuesday that Visa cardholders in Canada and the U.S. will now be able to enroll in the transaction alerts program, which provides them with real-time alerts detailing each of their credit card processing transactions.

Within seconds of making a transaction, Visa will send an alert via email, text message or the Visa mobile application with the amount, time and date of the transaction, as well as details about the merchant name and location.

Consumers will also be able to select only specific types of transactions to receive alerts about, such as card-not-present transactions or declined transactions.

"Visa is empowering cardholders to take an active role in managing and protecting their Visa account," said Elizabeth Buse, head of product at Visa. "Participating Visa cardholders can typically receive alerts before they walk out of the store, rather than hours or even days later."

If Visa delivers on its promise of increasing credit card processing security and providing financial management benefits, merchants will likely see an uptick in credit card processing activity from confident consumers, at least with Visa transactions.ADNFCR-2514-ID-19466532-ADNFCR

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