Credit card fraud has reached dangerous proportions today. It has directly affected the credit card business since consumers are reluctant to use credit cards, especially on the Internet, for fear of potential fraud on their cards.
CardAlerts uses the latest in wireless technology to bring relief to all parties involved in credit card transactions. The system instantly notifies the cardholder via SMS on his mobile phone for every authorization on his card. In case of misuse, the cardholder is alerted immediately and he can report it to the bank without any loss of time.
The services are not confined to transactions alone and are extended to diverse notifications. An indicative list of services is given below. The system is flexible for customization and addition of new services to suit the specific requirements of banks.
'Plug and play' operation to all authorization notifications - no integration with any acquirer or issuer system
Cardholders can personalize and configure services as well as define transaction limits
Cardholders can maintain multiple cards and multiple mobile numbers
Easy to add services
Powerful Notification Server to handle messages
As and when a charge is made
Hot listing notification
When a statement is raised
Reminders for payment on due date
Limit reaching a certain low level
Acknowledgements of hot listing request
CardAlerts has three core modules to manage activities of cardholders, system administration and message handling:
System Administration Module