Consumer Payment Card News

Rapid Alerts

Allowing you to better manage and track your spending, Wells Fargo Bank and Visa are making available “Rapid Alerts.” Offering ‘near real-time’ detection of potentially fraudulent activity, “Rapid Alerts” by Wells Fargo function on Visa’s transaction alerts platform, which then send alerts from the VisaNet processing network within seconds of a transaction. When transactions meet certain criteria you customize yourself, “Rapid Alerts” alerts are delivered via text message or e-mail so you can take immediate action if you suspect potentially fraudulent activity. The alert contains the amount, time and date of the transaction, as well as currency conversion and information relating to the merchant, such as name and location. Criteria for transaction alerts you may choose include transactions that exceed a dollar amount chosen by the cardholder; transactions initiated internationally ; card-not-present transactions; cash withdrawals from an ATM machine; declined transactions; and gasoline transactions.

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