News

PSCU intros mobile-based Card Lock security

The latest version expands the online blocking and unblocking service to add mobile functionality.

February 22, 2016

PSCU, a credit union service organization, has announced an updated version of Card Lock security for mobile devices that gives consumers additional fraud-fighting controls over their credit union credit card accounts.

According to a news release, the new Card Lock mobile app lets cardholders use their mobile device to set transaction limits, block purchases, request alerts and more. Users can set up automated triggers and thresholds — such as purchase limits — that will block specific transaction types at the point of sale.

"Reengineering Card Lock for use in the mobile device is a natural evolution of this technology that provides members with a convenient, powerful and effective backup for the fraud protection measures already in use by credit unions," said PSCU COO Tom Gandre. "With Card Lock, instant transaction visibility and easy-to-use controls are surefire ways to lower fraud. This is a solution that directly addresses the concerns consumers have today about the security of their credit cards."

In addition to user controls, Card Lock functionality also includes alert management and preferences for setting up or editing the user's notification preferences on the go. Consumer data shows that members are more likely to use their card more and at a wider variety of merchants when they feel secure from and in control of fraud. It¹s a known fact that fraud losses rise significantly the longer the fraud remains undetected.