Wells Fargo & Visa team up against fraud
(25 March 2010 – USA) Wells Fargo & Company and Visa Inc. have announced the rollout of Rapid Alerts for Wells Fargo Visa credit cardholders. The free service allows consumers to better manage and track their spending while providing them with near real-time detection of potentially fraudulent activity.
Rapid Alerts by Wells Fargo are enabled by Visa's transaction alerts platform. Alerts are sent on behalf of Wells Fargo directly from VisaNet, Visa's global processing network, typically within seconds of a transaction occurring.
Rapid Alerts are triggered when the transaction meets certain criteria previously selected by the Wells Fargo Visa account holder and delivered via text message or e-mail. Rapid Alerts let consumers monitor their Wells Fargo Visa credit card account activity and take immediate action if they believe a potentially fraudulent transaction is taking place.
Wells Fargo believes that Rapid Alerts will give customers added peace of mind that they will be notified almost immediately when transactions occur, said Peter Ho, product manager for Wells Fargo Card Services and Consumer Lending.
Rapid Alerts was piloted in 2009 and received an overwhelming positive response from participants who said text alerts were an invaluable tool for monitoring their accounts. Wells Fargo wants to help its customers succeed financially, and this is just one more tool to help them get there.
Rapid Alert messages contain the amount, time and date of the transaction, as well as currency conversion and information relating to the merchant, such as name and location.
Rapid Alerts are triggered when the transaction meets certain criteria previously selected by the Wells Fargo Visa account holder and delivered via text message or e-mail. Rapid Alerts let consumers monitor their Wells Fargo Visa credit card account activity and take immediate action if they believe a potentially fraudulent transaction is taking place.
Wells Fargo believes that Rapid Alerts will give customers added peace of mind that they will be notified almost immediately when transactions occur, said Peter Ho, product manager for Wells Fargo Card Services and Consumer Lending.
Rapid Alerts was piloted in 2009 and received an overwhelming positive response from participants who said text alerts were an invaluable tool for monitoring their accounts. Wells Fargo wants to help its customers succeed financially, and this is just one more tool to help them get there.
Rapid Alert messages contain the amount, time and date of the transaction, as well as currency conversion and information relating to the merchant, such as name and location.
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