PSCU Financial Services is the first CUSO to start offering participating credit unions the Visa Transaction Alert service, according to a Visa executive.
Speaking to credit union and CUSO executives attending PSCU's Member Forum, Bill Sheedy, president of Visa Americas, said that Visa saw rolling the technology out to CUSOs like PSCU as instrumental to helping strengthen the brand's fraud prevention effort.
Alerts are delivered through Visa's transaction alerts platform and are usually sent within seconds of transaction authorization and can be delivered by e-mail or text. Members can elect to receive any or all of the following alerts: transaction declined; out of country or card-not-present transaction; gas station charges or transaction exceeding an amount set by the cardholder, the brand and PSCU explained.
"We are fully committed to empowering our credit unions and their members with new technologies to reduce the risk of fraud. This new transaction alert service allows Visa credit cardholders to detect potential fraudulent use, providing credit union members more control over their accounts," said David J. Serlo, President, PSCU Financial Services in a statement accompanying the announcement.