Telefónica and TeleSign launch “Travel Alerts”: a mobile service to verify credit card transactions abroad
This is a service whose use requires the client’s consent and allows their credit card’s bank or issuing entity to use their mobile number to provide alerts regarding transactions made with the card abroad, at the same time as increasing effectiveness and reducing the number of denied operations. Additionally, pilots performed with “Travel Alerts” show a considerable reduction in operational costs and card management costs for the issuing financial entities.
After an alert is sent to the card’s bank or issuing entity when the user connects their mobile in a foreign country, the card issuer uses this alert to verify each of the payments made in that country with the associated credit card.
“Travel Alerts” works with any type of telephone, even the simplest of models, and it is not necessary to download any application or activate roaming calls.
As a service that is activated upon the user’s consent, the user maintains control of their information at all times, with the additional possibility to cancel the service by simply notifying their bank. Location information is only used to verify the user’s current country, and is processed through a secure system that uses information cyphering and strictly complies with data privacy policies.