Visa has announced a new trial that lets Visa cardholders know instantly when a transaction using their card has been made, through a text message.
The idea is to give consumers peace of mind should they be out and about and accidentally lose their card, when they will instantly be let known someone else is using it illegally.
The trial is taking place in the UK along with Visa's member banks, who will in turn make the tech available to consumers.
Power to the people
Sandra Alzetta, Senior Vice President of Innovation and New Product Development at Visa Europe says: "With Visa's mobile alert service, we want to offer cardholders the reassurance of knowing, in real-time, exactly where and when their card is being used. 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 it's 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 Visa's solution unique."
Visa has also hinted that this mobile integration could be extended in the future, with things like currency conversion when abroad available instantly.
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Gareth has been part of the consumer technology world in a career spanning three decades. He started life as a staff writer on the fledgling TechRadar, and has grown with the site (primarily as phones, tablets and wearables editor) until becoming Global Editor in Chief in 2018. Gareth has written over 4,000 articles for TechRadar, has contributed expert insight to a number of other publications, chaired panels on zeitgeist technologies, presented at the Gadget Show Live as well as representing the brand on TV and radio for multiple channels including Sky, BBC, ITV and Al-Jazeera. Passionate about fitness, he can bore anyone rigid about stress management, sleep tracking, heart rate variance as well as bemoaning something about the latest iPhone, Galaxy or OLED TV.