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Wells Fargo, Visa launch text-alert system for mobile-banking customers
March 30, 2010
Finextra reports that Wells Fargo and Visa are introducing an automated alerting system that will notify credit card customers of transaction activity via SMS/text messaging and e-mail. The Rapid Alerts system sees notices sent on behalf of Wells Fargo directly from VisaNet, Visa's global processing network.
The alerts are triggered when the transaction meets criteria set by the account holder. Customers can choose to be alerted to a variety of card usages, including ATM withdrawals, international transactions, Internet or phone payments and transactions that are made above specified amounts.
The free e-mail and text alerts 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.
Visa first announced plans to pilot the system in 2008 with eight North American banks, including Wells Fargo, which is now the first to launch the service on a commercial level.
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