Visa Europe has
embarked on a trial of a new mobile service that sends instant
confirmation of a card transaction to the cardholders mobile when they
use their debit, credit, or prepaid card. The notifications provide
increased peace of mind by instantly sending the time, location and
amount of each transaction to the handset. Consumers will be able to
choose to receive the alert via an SMS or email on any mobile device,
or to an application downloaded to a Smartphone.
Visa
is currently trialling the real-time alert service with its staff in
the UK and working closely with member banks through which it will make
the technology available to consumers.
With Visas mobile alert
service, we want to offer cardholders the reassurance of knowing, in
real-time, exactly where and when their card is being used, says
Sandra Alzetta, Senior Vice President of Innovation and New Product
Development at Visa Europe. If something looks suspicious, this will
give them the power to put a stop to any fraud taking place on their
cards.
We have chosen the summer holiday season to test this
proposition, as its the period when people travel most. Feedback from
our current pilots indicates that consumers often receive the alerts
before their cards are even handed back to them at the point of sale.
This real-time capability makes Visas solution unique. 
Visa
says that in the future, cardholders may be able to customise the
format and content of alerts to fit their individual needs. For
example, instant conversion into the users home currency while abroad
will make it easier to keep on top of budgets.