At it’s most basic level, the “Card and Account Protection System” can be installed and configured
to send an electronic message to the card holder’s
mobile phone (or other electronic device) each and every
time the holder’s card is used in a transaction.
In the event the card holder receives notice of an
un-authorized transaction, the card holder can immediately
call the issuing authority and query the transaction
or have the card suspended.
The Markets-Alert “Card and Account Protection
System” provides the card issuing authority and
the card holder the ability to select and set rules
relating to an electronic message alert.
Examples of the types of rules the authority or card
holder could apply are:
- Send an alert for all cash withdrawals
- Send an alert for any transaction over $xxx.xx
amount
- Send an alert each time a new merchant accepts
the card
- Send an alert whenever the card is used in a new
geographic area
- Send an alert detailing card balance at yy time
of the month
- Send an alert reminding the card holder of overdue
payments
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This feature allows card holders to apply parameters
to query pre-authorization data between the merchant
and the card issuer.
If the pre-authorization debit request has not
been authorized by the card holder, access to the
card holders account is denied.
A transaction declined message is returned to the
POS terminal.
Examples of the types of rules the card holder
could apply are:
- Block all cash withdrawals
- Block all transactions outside a specific geographic
location
- Block all card not sighted transactions
- Block transaction if the transaction is over
$xxx.xx
- Block all transactions outside saved parameters
- Block unauthorized merchants
- Text to Voice pin codes to block and unblock saved parameters
to allow for "spur of the moment" transactions
whilst card holder is out and about
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| This feature allows card holders to specify which
merchants can debit their card.
Examples of the types of rules the card holder could
apply are:
- Merchant name
- Merchant location
- Merchant ID
- Date, time and amount stamps
- Recurring or non-recurring payment
Any debit requests by merchants outside the card holders
preset parameters will be blocked at the pre-authorization
stage of the transaction process.
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