The Members Group, a card processing CUSO affiliated with the Iowa Credit Union League, has announced a new interface and tool that should enable its member CUs to more easily use Visa's transaction alerts.
Transaction alerts send participating cardholders messages when they use their Visa cards. The service both enables consumers to better track spending and alerts the cardholder to unauthorized transactions, according to Visa.
“With text alerts, cardholders become active participants in fraud prevention,” said Brian Day, TMG product development architect. “The alerts give them a much earlier view of attempted fraudulent transactions as compared to waiting for a statement–or even checking their account online.”
The new service will enable cardholders from participating TMG member CUs to sign up for transaction alerts through TMG’s MyCardInfo.com website or a through a financial institution’s own online banking system, the CUSO said.