Cardholder Alerts


Solution Overview

This robust and customizable value added feature allows alerts to be sent to cardholders using email or SMS text using the email and cell phone records maintained in SWITCHWARE®. In addition to providing real-time transaction alerts, alerts can be sent for various conditions to include:

  • For any transaction. Will send an alert for any type of transactions (financial transaction or non-financial, such as PIN change)
  • Foreign country transactions. Will send an alert for a transaction where the acquiring country code is different than the institution’s country code
  • ATM transaction count. Will send an alert when the ATM transaction count reaches the limit within a specified period of time (e.g. More than five (5) ATM transaction per day)
  • POS transaction count. Same as ATM transaction count but applies to POS transactions
  • Large POS transaction. Will send an alert when the POS transaction amount requested is greater than the specified limit
  • Card not present. Will send an alert if the cardholder performs a transaction where the cardholder is not physically present (e.g. internet transactions, or transactions over the phone, etc.)
  • Low balance for account. Will send an alert when the account balance following a transaction has fallen below a specified amount (e.g. less than $100)
  • Insufficient funds for account. Will send an alert when a transaction on an account has been declined due to insufficient funds
  • ATM transaction amount. Will send an alert when the total of ATM transaction amounts reaches a limit in a specified time (e.g. more than $1000 in a 3 day period)
  • POS transaction amount. Same as ATM transaction amount but applies to POS transactions

Effective October 16th 2016, Visa has required all U.S. Issuers to provide consumer cardholders with an option to enroll in a transaction alerting program for their credit, debit or pre-paid cards. In order to expand adoption of transaction alerts, this mandate will be applied to all Visa-branded card authorizations.

MasterCard has a similar requirement – where the issuer has dual brand issuing, they must also comply by October 2016; MasterCard-only issuers have until April 21, 2017. Importantly, unlike the EMV deadline which provided a liability shift for financial loss, these are real mandates which the issuers must comply with.

Solution Benefits

  • Increased account activity and fraud awareness
  • Customizable account specific notification parameters
  • Determines exactly when and where a card was used
  • Strengthens customer engagement
  • Contact data sourced from existing SWITCHWARE database

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