Credit Card Issuers To Send Out Text Messages | Ramblings of an e-trader

Thursday, 21 April 2011

Credit Card Issuers To Send Out Text Messages

I read in the papers recently that soon it will be an automated process to receive a text message from the bank each time we charge our credit card. This will make it easier for us to track if our card has been stolen or misused. With the text message alert, we would be able to cancel the transaction, hence it will no longer be easy for fraudsters to steal or clone credit cards.

This is only one of the many steps taken to curb credit card fraud and it's a good step forward. Credit card owners can set the minimum charge amount they would like to be alerted. As for me, I would prefer to know each time my card is charged, even if I charge it myself. One can't be too careful!


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