The next October mandate: Cardholder transaction alerts. It’s coming October 14, 2016. Is your bank ready?
This October, it is the issuer who must deal with a mandate: cardholder transaction alerts. Issuers were recently informed by Visa will it require a transaction alert service to be made available to all cardholders by October 14, 2016. Visa also made the choice to opt all Visa issuers into the Visa Purchase Alerts program currently in development. To opt-out of the program paperwork must be submitted to Visa before April 29, 2016. MasterCard also issued a bulletin making Purchase Alerts a requirement for Issuers by Spring 2017.
In this live discussion on Monday, April 18th at 1:00 PM (EST), MPD’s CEO Karen Webster will lead a conversation with one of the innovators in this area, Rachna Ahlawat, Founder of Ondot Systems. She will review the checklist for opting into the program, important dates and milestones and what should you look for in a solution for Card-Controls and Alerts.
Networks are giving very little time for issuers to Opt-out from their service. The majority of banks and credit unions are unaware of the opt-out dates and they will be automatically be enrolled in Network-offered service. This discussion will provide an overview of how to choose a transaction alert provider.
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To attend this PYMNTS Live on Monday, April 18th at 1:00 PM (EST), please complete the registration form shown below.