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VISA is coming up with a unique way to keep you safe!

by grace grace edens (2020-02-04)

To reduce the threats and related hazards that come along with credit card frauds, VISA is working out a way to work with your cellular provider and alert you on your smart phone of an impending fraud instance. VISA will notify you if there has been an unsolicited attempt made at using your credit card from unusual locations. To trace this, it will deploy a location-tracking app that will help it figure out if you are out of your home zone. With this app in place, the payment processing company is devising newer means to secure your money and help you avoid falling in the trap of credit card fraudsters.


While you are taking every possible step to make sure you don’t land up in soup, cyber crooks are also trying their level best to catch up with you and prove you wrong. In the midst of this, finance organizations are also working hard to provide you technology-based solutions for easy and safe transactions. So, you are not alone in this battle; finance companies too want to join hands with you to spin and toss the crooks across.


Here’s an fraud alert for all you credit card users…


To avoid credit card frauds, payment processing company VISA is coming up with new features that will automatically notify it when a user is traveling.

This will help it promptly create and send fraud alerts to users whose cards have been used in unsolicited ways in strange locations.

To avail of this benefit, users will have to opt for the location-tracking software services of the bank.

The software will track the user’s home location (about 50 mile radius) and treat other locations as foreign territory and consider them as ‘high-risk’ for fraud.!

So, depending on the distance between the places, all transactions made using the card will be treated as high or low risk zones and accordingly alerts will be sent out.

The bank’s app will rely on the phone’s cellular data or connected Wi-Fi network to comprehend that a user is traveling to a foreign territory; thereafter if any transaction is made using the card, the company will not consider it as high risk.

This way it will keep users notified of their transaction statuses (fraudulent ones) and also prevent the banks from bearing the brunt of credit card frauds.

However, it will be the user’s onus to notify the company in case of a lost or stolen card. This will help prevent frauds while there is still time. Fraud Alerts view this step as progressive and just the answer to credit card fraud instances. By using technology, if the entire process of tracing and alerting concerned parties of fraudulent transactions can be streamlined, there would be nothing better. There are still some months before this benefit is rolled out to the public; for more updates,