Visa wants to put an end to those annoying calls you sometimes get from your bank when buying things online or far from home. The credit card company will roll out a new feature that allows cardholders to automatically let Visa know where they are using the location services built into nearly every smartphone.
The optional service will match up the coordinates of the smartphone with the location of the sale to more accurately predict instances of credit card fraud. To set up the location tracker, Visa has made deals with card-issuing banks to add the option to their mobile banking apps. Over time, the location service will plot out a home range with a radius of about 50 miles.Read more
With all the news about massive data breaches in the biggest retail chains and the ever-present risk of online fraud, you may be wondering whether or not it is really a good idea to use credit cards at all.
Of course it is! After all, it’s much safer than carrying lots of cash in your pockets, and you have no viable alternatives when buying something online – be it a new smartphone app or a car. So, banking cards are good, despite the possibility of security issues. You just have to make sure your “virtual pockets” are not wide open for a thief’s convenience. There are some tips for you to follow in order to protect your credit cards.Read more